The Greek economy expanded at a rate of 2.3% during the second quarter of 2024, according to data released by ELSTAT, on Monday, Sept. 16. This development has prompted a revision of economic forecasts for Greece up to 2028.
For 2024, the growth rate of the country’s economy is now expected to reach 2.14%, up from the previous estimate of 2.09%.
In the following years, the Greek economy is projected to grow by over 1.5% annually, with rates of 1.72% in 2025, 1.96% in 2026, 1.86% in 2027, and 1.50% in 2028.
Notably, investment growth in 2024 is expected to be significant, with a total increase of 9.26% year-on-year while private investments are projected to rise by 2.25%, whereas private consumption is expected to grow by 2.09%.
In contrast, public spending is expected to decrease by 0.8% compared to 2023.
Furthermore, Greece’s debt as a percentage of GDP is forecast to stand at 155.29% in 2024, decreasing to 138.34% by 2028.
Additionally, 2025 is expected to mark the first time the unemployment rate will fall below 10%, while inflation is projected at 1.76% falling below the 2% target.
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