R&D spending in decline

State spending on research and development declined in Greece in 2023, bucking European trends, Eurostat data gleaned from the member-states' budgets and released Tuesday show.

When one considers spending per capita, Greece ranks quite low among EU states, although it outranks Lithuania, Poland, Malta, Portugal, Slovakia, Latvia, Hungary, Bulgaria and Romania.

"In 2023, the total government budget allocations for R&D across the EU stood at €123.684 billion, equivalent to 0.73% of GDP. This was a 5.3% increase compared with 2022 (€117.424 billion) and a 54.8% increase compared with 2013 (€79.886 million)," Eurostat noted.

In Greece's case, research and development budget allocations declined about 17%, to €1.27 billion in 2023, from €1.53 billion in 2022. In terms of the country's gross domestic product (GDP), spending declined from 0.74% in 2022 to 0.58% in...