Staikouras for GDP – Strong recovery confirmed

On the occasion of the announcement of the Hellenic Statistical Service for GDP in the second quarter, the Minister of Finance Christos Staikouras stated that the strong recovery of the Greek economy is confirmed, a recovery which is even stronger than the initial forecasts.

Specifically, the Minister of Finance stated:

“Today, ELSTAT published the provisional data on the course of the Greek economy during the second quarter of 2021. The data show that GDP increased by 16.2% compared to the corresponding quarter of 2020.

Thus, for the first half of 2021, the growth rate is now around 7%. The strong recovery of the Greek economy is therefore confirmed. Recovery which is even stronger than the initial forecasts.

This development, on the one hand, certifies the correctness and effectiveness of the Government’s economic policy, and on the other hand, requires us to be vigilant and intensify our efforts.

These data, combined with the positive course of all components of domestic demand, ie private and public consumption, and especially investment, net exports, but also the continuous upward trajectory of leading indicators, such as the economic climate, industrial production, manufacturing, construction activity, tourist arrivals, show that the course of GDP, in the whole of the current year, will be better than the estimates made in the Medium-Term Fiscal Strategy Framework.

Therefore, it seems that the economy and the economic policy pursued, in the nebulous global environment, maintain their strategic orientation, for rapid recovery of those lost due to the pandemic, significant improvement of disposable household income and further sustainable development of the Greek economy, “for the benefit of all citizens.”