Nine years after almost being forced out of the Eurozone over debt and bailout needs, Greece’s accelerating recovery will see 2.3 percent growth in 2024, the fourth-best rate in the Eurozone.
But that is far less than the 2.9 percent the government said it was expecting after 5.9 percent growth in 2023 on the back of record tourism bringing in more than 20 billion euros ($21.54 billion.)
For 2025 the forecast is for 2.3 percent, up slightly from a previous estimate of 2.1 percent but still showing growth after Greece lost 25 percent of its annual Gross Domestic Product in a 2010-18 economic crisis.
The Commission said the 2023 inflation rate was 4.2 percent compared to 5.4 percent in the Eurozone of the 20 countries using the euro as a currency. There are 27 countries in the European Union.
“What we have is solid growth and good forecasts for 2024-2025, which is very interesting if we compare them with the average in the eurozone,” Economy Commissioner Paolo Gentiloni said.
“Of course, promoting investment and implementing the recovery and resilience plan are essential to sustain growth,” Prime Minister Kyriakos Mitsotakis’ seeking foreign investors paying off.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
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