Economic Outlook

Indications are growing that despite outperforming the European Union average in terms of growth and public finances, the Greek economy has not developed the momentum that would allow high performance to be achieved in the medium term. On the contrary, forecasts point to a slowdown after the Recovery and Resilience Fund's resources are exhausted.

Labor productivity in Greece is about a third lower than the average of its member-states, the Organization for Economic Cooperation and Development (OECD) said last week.

Greek economic growth will remain robust, with real GDP growth projected at 2.2% in 2023 and 1.9% in 2024, according to the Paris-based Organization for Economic Cooperation and Development (OECD).

The Organisation for Economic Co-operation and Development (OECD) issued a warning saying that the "uneven" global economic recovery provokes worse forecasts related to global economy. OECD lowered its 2021 growth forecasts for the world, including pessimistic expectations about US. Still the Organisation raised the outlook for Europe, EPA reported.

The OECD released its latest Interim Economic Outlook report on Tuesday

Greece's economy will end up among those hardest hit by the pandemic, according to the estimates of international organizations' recently published reports.

The global coronavirus pandemic is causing an unprecedented economic crisis and will require a massive response to secure a recovery, IMF chief Kristalina Georgieva said on Thursday, BGNES reports.

She warned that "global growth will turn sharply negative in 2020," with 170 of the International Monetary Fund's 180 members experiencing a decline in per capita income.

The Organization for Economic Co-operation and Development (OECD) has revised its growth forecasts for the Turkish economy for this year and 2020.

The International Monetary Fund has upwardly revised its short-term forecasts while lowering its medium-term forecasts for Greek growth in its October 2018 World Economic Outlook, which will be published on Tuesday in the context of its annual meeting in Bali, Indonesia this week. Finance Minister Euclid Tsakalotos will also be present at the event.

Fitch has reduced its economic growth forecasts for Turkey and increased its inflation forecast for the country in the wake of a significant loss in the Turkish Lira's value against the greenback in its latest global economic outlook.