BoG: Growth rate to pick up in 2024-2025

The Bank of Greece forecasts slightly accelerated growth rates in 2024-2025, in its "Note on the Greek Economy" report, published on Monday. It forecast an increase in the country's gross domestic product by 2.2% from 2% in 2023, while in 2025 the rate is expected to increase to 2.5% of GDP before easing back to 2.3% in 2026.

According to BoG estimates, the full execution of the EU Recovery Plan will contribute to a significant increase of 7% in real GDP by 2026, primarily due to the increase in total investment and total factor productivity. At the same time, it will contribute to the increase of employment, private investment, exports and tax revenue.

The implementation of reforms associated with the NextGenerationEU (NGEU) is projected to bring about a permanent increase of real GDP and total factor productivity (in the course of 10 years)

Looking ahead,...