Stournaras: Reform fatigue is the biggest challenge for the Greek economy

“The growth momentum of the Greek economy will continue in the coming years. The growth rate of the Greek economy is expected to reach 2.2% in 2024, accelerate to 2.5% in 2025 and decline slightly to 2.3% in 2026, according to the BoG’s forecasts,” Bank of Greece Governor Giannis Stournaras said in an interview with the special edition of Kathimerini’s “CEOs 2025”.

Furthermore, when asked “Where do you see Greece and its economy after 5 years”, Mr. Stournaras pointed out that “the Greek economy will continue, after 5 years, to grow at a satisfactory rate, higher than the eurozone average, if economic policy continues on the same path of reforms, effective use of available European resources and fiscal responsibility.

“The drivers of economic activity in the coming years will continue to be investment, private consumption, and exports. Overall, I believe that the Greek economy will continue, after 5 years, to grow at a satisfactory pace, above the euro area average, provided that economic policy continues on the same path of reforms, efficient use of available European resources, and fiscal responsibility. This development will lead to a further decline in the public debt-to-GDP ratio and will help to bring the credit rating of the Greek government closer to the euro area average.”

Also, as Stournaras said, “Reform fatigue is the biggest challenge for further strengthening the resilience of the Greek economy in an international environment where new uncertainties are accumulating. Geopolitical instability, technological challenges, the green transition, and the productive use of artificial intelligence are just some of the areas that call for strengthening the resilience of the economy to external shocks and make it necessary to maintain high growth rates in the medium term. In this direction, economic policy should focus on sustaining the momentum of reforms by strengthening national ownership of the planned changes.”

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