greek economy

The drop follows a significant uptick in the ESI in the second half of 2022 (69.5 units) and a slight decline in the first half of 2023 (66.7 units).

BofA projects growth of 1.1% in 2024 and 1.7% in 2025, compared to forecasts for eurozone growth at 0.4%/1.1%, respectively

"We are determined to continue, more or less, in the same way, proceeding with all necessary structural reforms, sending the message that this country is investment-friendly," Mr. Hatzidakis said

Greece's central bank said the total value of these types of loans decreased to 69.46 billion euros by the fourth quarter of 2023, down from 71.18 billion euros in the previous quarter

Investments and private consumption are expected to be the key drivers of economic activity in the coming years

However, despite this decline, the general index showed a positive trajectory, surging by 1.7% in January 2024 compared to December 2023

According to ELSTAT, the trade deficit in January 2024 amounted to 2,543.1 million euros, compared to 2,476.7 million euros in the same month of the previous year

The inflationary pressure on food continues to mount, with a significant uptick of 6.7%. Notably, olive oil saw a staggering 63.4% surge, while fruit prices spiked by 12.3%

Kostis Hatzidakis emphasized the government's dual role in the new era for the banking system: ensuring conditions for a resilient banking system and fostering competition among banks, akin to practices in advanced European nations.

Masoutis SA will be constructing a Grand Masoutis and two nine-storey apartment buildings in Athens valued at 30 million euros.

Ratings firm considered the strictest of its peers, and the only one that still hasn't restored Greece's sovereign rating to investment grade

KEPE underlines that the implementation of important reforms and investments through the utilization of funds from the Recovery and Resilience Facility and the new ESPA also play a role in the more positive outlook of the country’s economy

A total of 112,000 new businesses were started in 2023, up by 6.1% over 2022, mainly in construction, transportation and storage.

The record-breaking performance of the Greek tourism sector in 2023 is reflected in the Bank of Greece (BoG) provisional data published, as 32.73 million tourists visited Greece, compared to 31.34 million in 2019

European Commission says Greece is moving ahead with the implementation of key investments and reforms according to its National Recovery and Resilience Plan

The report notes that consumption growth remained notably reduced despite a robust recovery in 2022, adding however, that it remained one of the main drivers of growth last year

President of the Union of Agricultural Cooperatives of Naxos, Dimitris Kapounis, emphasizes that compared to other EU countries, Greece produces close to nothing, and there will be further degradation of the primary sector, whether it concerns fruits or vegetables

This interest extended to new domains such as agri-food, technology, and healthcare, in addition to the more traditional sectors.

Promises continued market inspections and the imposition of heavy fines to contain damage

Greece’s descent into economic turmoil in 2010 triggered a significant exodus, with both skilled professionals and unskilled workers setting off in search of a better life elsewhere in the E.U. and U.S., where economic prospects were more promising. However, emerging from the shadows of austerity over the last five years, Greece has undergone a remarkable […]