The Greek economy has registered significant progress during the last five years, winning first place in a series of basic economic indexes indicating the tangible improvement in citizens’ quality of life, the National Economy & Finance Ministry said on Monday.
“Greece has achieved the fastest – at least, one of the fastest – rates of progress in the entire European Union in a series of critical sectors,” it said in a statement.
The ministry said the government was aware of difficulties households faced from 2022 on due to the global inflationary shock and the fact that wages and salaries remained below the European average, but “it cannot accept the undermining of citizens’ achievements and seeing a miserly picture presented that many times is based on faulty and incomplete economic facts.”
It then cited data to show that in the European Union, among 27 countries, Greece has come first in seven sectors during the last five years (2019-2023), as follows:
1. The greatest reduction in unemployment rates from any other EU country.
2. The lowest cumulative increase of consumer prices, that is the lowest cumulative inflation in all of Europe.
3. The greatest percentage rise in investment volume.
4. The greatest reduction in the ratio of public debt to GDP.
5. The greatest percentage rise of share in global export goods.
6. The greatest increase in competition level, as defined and measured by the OECD, and
7. The greatest reduction of spread against the German 10-year bond.
The progress of the Greek economy is recognized by all large international organizations, global markets investing billions through shares and bonds, and the reclaiming of investment grade after 13 years. The latter, in particular, has resulted in savings of nearly 800 million euros for a decade ahead, which can be invested in health, education, and the social state, the ministry asserted.
SOURCE; ANA-MPA
