Upwards of 5% GDP growth in 2021

Eurobank CEO Fokion Karavias on Tuesday added his voice to a growing chorus of key decision-makers and analysts citing a better-than-expected and earlier recovery for the once-benighted Greek economy.

Κaravias’ statements were featured in the August edition of Time.

In qualifying his position, the Greek banking executive said the country is now sporting the friendliest environment for business since the 1980s, pointing to tax breaks and an “aggressive” reform agenda by the current center-right Mitsotakis government.

Karavias, who leads one of four systemic banks in the country, said business opportunities are also not restricted to the tourism sector. In citing two examples, he said Microsoft has chosen Greece for one of its big data hubs while advanced planning aims to build, in northern Greece, Europe’s biggest lithium battery production unit.

Asked about the country’s macro-economic course, he said the climate at the moment is very positive, mainly due to certain encouraging growth indexes and due to the overall management of the pandemic.

He forecasts that Greek GDP will grow at roughly 5 percent for the year, and even higher in 2022.

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