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GreeceBusinessFinMin Staikouras welcomes European Commission's forecasts for Greek growth rates

FinMin Staikouras welcomes European Commission’s forecasts for Greek growth rates

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Greek Finance Minister Christos Staikouras on Friday welcomed the European Commission’s autumn economic forecasts for Greece, saying they verified the fact that the Greek economy was growing steadily and strongly, showing remarkable resilience in the coming years, despite the energy crisis and intense inflationary pressures.

The Greek FinMin said that, according to the Commission, Greece will present a growth rate significantly higher than previous estimates and double the European average rate in 2022 (around 6%), while for 2023, a year of significant slowdown of the European economy – even of recession in some countries – Greece is expected to present the third highest economic growth rate in the eurozone (1 pct), three times greater than the European average.

Additionally, Greece is the leader in investment increase in the period 2022-2024, with a double-digit growth rate this year. The inflation rate is high in the current year and up compared with previous estimates, but lower in comparison with several other countries and it is expected to move within the European average rate in the coming years.

The European Commission noted that economic support measures taken by the government and a significant increase in the minimum wage are partly offsetting inflationary pressures on households’ and enterprises’ available income. The EU’s executive stressed that these measures were within the framework of the country’s fiscal capabilities, ensuring fiscal stability.

Τhe report confirmed the systematic and efficient effort made by the government to support citizens during the strong and continuing crises, to strengthen the economy and boost employment and social cohesion, Staikouras said, adding that the government will continue this effort to overcome international challenges.

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SOURCE; ANA-MPA

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