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Economy
OECD adds to strong recovery forecasts, sees 6.7 pct growth this year and 4.8 pct in 2022 The OECD is the latest international organization to affirm the view that Greece is experiencing a strong economic recovery this year and will see continued expansion into 2022, assisted by the RRF.
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EconomyMacroeconomy
Amidst Covid and inflation uncertainty, 2022 budget looks forward to solid growth Amidst growing concerns about the impact of the latest pandemic wave and ongoing pressures on the inflation front, led by energy prices, the Finance Ministry tabled a revised final budget for 2022 in which most macro variables and assumptions are improved compared to the draft tabled at the start of October.
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EconomyMacroeconomy
EC sees strong recovery in 2021, solid growth in coming years underpinned by RRF The European Commission continued to revise upwards its estimates for Greek growth in 2021, moving up to 7.1 pct in the autumn forecasts released on Thursday, from 4.3 pct growth seen in the summer forecasts in July.
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EconomyMacroeconomy![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF ups 2021 growth forecast to 6.5 pct, but keeps modest outlook for longer term The International Monetary Fund, within the regular cycle of its World Economic Outlook (WEO) publication, was the latest international organisation to adopt a more optimistic view about Greece’s growth this year.
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EconomyMacroeconomy
FinMin tables recovery budget, foreseeing across-the-board improvement in key numbers The Finance Ministry submitted to Parliament on Monday the draft budget for 2022 in which Greece is seen leaving behind the impact of the pandemic.
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Economy
Some key tasks pending as Greece edges closer to completing post-programme process Greece formally completed the eleventh post-programme review, which took place remotely in mid-July and was followed by regular consultations, with the report published on Wednesday by the European Commission.
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Economy PBO highlights exceptional factors supporting recovery, cautions against complacency The Parliamentary Budget Office (PBO) issued its latest quarterly report on Tuesday, noting the economic recovery but warning against complacency as the factors behind the solid GDP rebound in the second quarter are circumstantial and transitory.
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EconomyMacroeconomy
GDP shows strong recovery from lockdowns with 3.4 pct growth QoQ in Q2 Greece’s seasonally adjusted (SA) GDP rose by 3.4 percent quarter-on-quarter (QoQ) in the second (Q2) quarter of the year, from a slightly upwards revised 4.5 percent in the first quarter (Q1) of 2021, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
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Economy
Fitch maintains Greek 'BB' rating with stable outlook amid some lack of visibility As anticipated, Fitch kept its credit rating for Greece steady at ‘BB’ with a stable outlook.
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EconomyMacroeconomy
EC summer forecast sees growth edging up to 4.3 pct, driven by RRF The European Commission continues to marginally revise upwards its forecasts for Greece’s growth: In the latest summer forecasts released on Wednesday it sees the economy growing by 4.3 pct in 2021, from the 4.1 pct expected in May.