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Greece’s economy to grow by 2.3% this year, well above the euro zone’s average

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Greece’s economy to grow by 2.3% this year, well above the euro zone’s average

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„Greece’s economy is seen growing by 2.3% this year, well above the euro zone average”, Greek central banker Yannis Stournaras said on Monday.

„This projection falls below the government’s estimate of 2.9% expansion.”

“Private consumption and investment will continue to be the main driving forces of growth…while increased investment activity will lead to considerably higher imports,” Stournaras told the Greek central bank’s annual shareholders meeting in Athens.
“Slower growth in Europe and geopolitical challenges are expected to impact Greek domestic output,” he said.
The Greek economy, which has outpaced other euro zone countries since emerging from a decade-long debt crisis in 2018, expanded by 2.0% last year, according to seasonally unadjusted data. Lower-than-expected investment and the costs associated with devastating floods have weighed on public finances.

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