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GreeceBusinessBudget Office warns against 'excessive nominal wage increases' in 4Q2023 report

Budget Office warns against ‘excessive nominal wage increases’ in 4Q2023 report

Hellenic News of America
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Nominal wage increases should not be excessive, the Greek parliament’s Budget Office warned in a report released on Monday on the 4th quarter of 2023.

The Budget Office said these raises should be proportionate to economy’s ability to sustain them. It also said that the Greek economy continues to grow, while the growth rate of real GDP in the 4th quarter of 2023 at 1.2% compared to the 4th quarter of 2022 (2.0%) and 2023 overall.

Greece’s growth rate (2.0%) is significantly higher than the respective one for the eurozone, as assessed by Eurostat for 2023 (0.4%).

In its assessment, the Budget Office said the annual forecast of annual growth for 2024 is 2.5% for the economy and 2.9% for inflation, consistent with other updated forecasts by the European Commission, the International Monetary Fund, and the Bank of Greece. The latter three assess the Greek economy’s growth rate for 2024 between 2.1% and 2.9%.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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