EU sees Greek GDP rising 4.1%

EU sees Greek GDP rising 4.1%

The European Commission has upgraded its projections for Greek growth this year and next, in line with its upwardly revised gross domestic product projections for the entire European Union.

Brussels said in its spring forecasts on Wednesday that the Greek economy will grow 4.1% this year, against a previous estimate for 3.5%, and jump 6% in 2022, up from 5% previously. The government projections are for a 3.6% GDP advance in 2021 and 6.2% in 2022.

The major upgrade of Greece’s prospects is thanks to the incorporation for the first time in Commission projections of the expected inflows from the Next Generation EU fund, which has also led to a rise in estimates for the entire bloc: Growth is now seen coming to 4.2% in the EU this year, rising to 4.4% in 2022.

Brussels said the NGEU cash constitutes “the backbone” of Greece’s recovery, as the country is now set to witness the highest rate of investment growth among all EU member-states, amounting to 12.9% in 2021 and 15.15% in 2022. Unemployment will remain at 16.3% this year and ease to 16.1% next year.

However, the Commission also sounded some warnings as it recorded the fiscal deterioration in the Greek economy due to the pandemic and the support measures.


Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.