greek economy

More than half of Greek CEOs (54%) express high confidence in their company’s growth potential

Singapore is the most competitive economy out of 67 across the world’s eight major regions.

Meanwhile, the Production Index in Construction (IPC) in the 1st quarter of 2024 recorded an increase of 5.0%

The 15.7% surge in April 2024's output price index is primarily attributed to a substantial 23.7% hike in the crop output group, driven mainly by the price increases in olive oil and fruits.

The positive balance of expectations for employment witnessed a marginal decline, while the index for production forecasts also recorded a mild drop

Besides Greek GDP inflation is expected to drop by a substantial 2.4% in 2024, settling at 2.8% from 4.2% in 2023 with 2025 recording a further decline to 2.1%.

Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries

Goldman Sachs sees an upgrade of the Greek stock market

Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.

Annual inflation is expected to reach 3%, up from the previous forecast of 2.8%

Nevertheless, the article also highlights some of the challenges facing the country, with a falling birthrate and labor shortages posing a threat to the long-term outlook, whereas natural disasters partially attributed to climate change, such as major wildfires and unprecedented flooding, are straining state finances

Projected consumer prices are forecast to rise by 2.7%

Gentiloni praised the Greek PM for the "economic success story"

General inflation is expected to further decline in 2024 to 2.8%

The shortages are due to a combination of factors including the annual hunt for seasonal employees at the start of the tourist season, persistent skills gaps in the IT sector, and a shortage of hands in Greece's booming construction industry.

The French bank recommends a long position in Greek bonds against Belgian ones

In 2021, the accommodation and food services sector in the EU witnessed the operation of 1.9 million enterprises, accounting for 6.1% of all enterprises in the business economy.

The increase in private consumption accelerated faster than anticipated, rising by 1.4% quarterly in the last quarter of 2023, while exports also provided an upward surprise, recording a 0.4% increase

Greeks’ purchasing power is under pressure, ranking 26th among 27 EU member states.

According to the Bank of Greece corporate deposits decreased by 912mln euros, compared to a 3.167bln euros decrease the previous month