Greek GDP revised to 2.4% in 2020: European Commission winter report

14 February 2020
505 Views

Greece’s economy is estimated to have grown by 2.2% in 2019 and is expected to grow at or above 2% over the forecast horizon, provided that reforms efforts continue to be implemented, according to the 2020 European Commission winter forecast.

As the report says, despite slower growth in some of Greece’s main export markets,
export growth remained resilient, indicating further market share gains, including in the tourism sector.

Real GDP in Greece is forecast to reach 2.4% in 2020 and 2.0% in 2021. With business and
consumer confidence at pre-crisis levels at the end of 2019 and disposable income increasing,
investment and consumption are expected to be the main drivers of growth. Export growth is expected to remain positive but is likely to ease, due to moderate growth in export markets and slower growth in export market shares. The labour market continued to improve with
unemployment falling to 16.6% in October 2019 (LFS data), down from 18.5% a year ago, though it remains the highest in the EU. The recent rise in the number of people in employment, on average.

You may be interested

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices
GREECE
shares17 views
GREECE
shares17 views

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices

Panos - May 07, 2021

The first upgraded Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy today, Thursday 6 May. The work on…

Foreigners looking to buy Greek property amid Covid-19 pandemic
FINANCE
shares29 views
FINANCE
shares29 views

Foreigners looking to buy Greek property amid Covid-19 pandemic

Panos - May 07, 2021

Despite the pandemic, the demand for a permanent holiday home in selected destinations in Greece by foreigners is on the…

Greek Taxisnet services not available for citizens over weekend
FINANCE
shares21 views
FINANCE
shares21 views

Greek Taxisnet services not available for citizens over weekend

Panos - May 07, 2021

Online services on the Taxisnet platform system will not be available to taxpayers over the weekend due to scheduled upgrading.…

Leave a Comment

Your email address will not be published.