Greece's GDP to Surpass 200 Bln Euros in 2020, According to Medium-Term Fiscal Strategy
Monday, 25 February 2019
Greece's GDP is expected to surpass 200 billion euros in 2020, based on the forecasts of the Medium-Term Fiscal Strategy (MTFS) 2020-2023 that is to be tabled in parliament in the coming months.
A circular issued by Alternate Finance Minister George Chouliarakis has requested all the government agencies involved (ministries, decentralised administration, supervised bodies etc) to provide specifics concerning the basic scenario of the new MTFS, which is based on the following forecasts:
- GDP rising to 200.467 billion euros in 2020, from 195.924 billion euros in 2019, with a GDP growth rate of 2.5 pct in 2019, 2.3 pct in 2020, 2.1 pct in 2021 and 1.8 pct in 2022-23.
- Unemployment will continue to decline, falling to 16.6 pct in 2020 from 18.2 in 2019, and then 15.4 pct in 2021, 14.3 pct in 2022 and 13.2 pct in 2023.
- Budget spending will increase to 58.113 billion euros in 2020 from 56.930 billion euros in 2019 and then remain roughly level, ranging between 58.5 and 58.8 billion euros until 2023.