Greek growth stays above EU average

The European Commission sees Greece’s economic growth at 2.4% in 2023 and 2.2% until 2025, above the eurozone and EU average, in its fall economic forecasts released on Wednesday, pointing out that this growth is supported by the implementation of the Recovery and Resilience Plan and a resilient labor market.

Overall, the Commission noted that Greece’s core inflation is estimated at 4.3% in 2023 and around 2.1% by 2025, as tighter labor market conditions add upward pressure on prices.

The general government deficit is expected to shrink further due to moderate spending growth and higher revenues.

The lower fiscal deficit, together with steady nominal gross domestic product growth, will support the reduction of the high public debt-to-GDP ratio, the Commission said.