Greeks More Optimistic over Economic Developments, Survey Shows

Αssociated Press

(AP Photo/Iliana Mier)

ATHENS - Greek business people were more optimistic over economic developments in the country in the second half of 2019, Grant Thornton said in its IBR survey released on Thursday. The survey showed that optimism among Greek business people over the economic outlook in the next 12 months rose 24 pct, to 68 pct, while optimism among European business people, by contrast, fell 5.0 pct to 45 pct in the second half of 2019. On a global scale, optimism rose from 56 pct to 59 pct.

In Greece, economic uncertainty fell 8.0 pct to 39 pct, the lowest level since 2013. Vasilis Kazas, CEO in Grant Thornton Greece, said that following a deep crisis, Greece shows the first signs of leaving economic uncertainty, stagnation and disinvestment. The IBR survey showed that Greek enterprises were expected to support an increase in productive opportunities in the market in the next 12 months, but this requires primarily the continuation of reforms and to strengthen credibility and confidence in the market.

Despite a positive climate and optimism, Greek business people expect both revenue and profitability to remain unchanged compared with the previous six-month period, with expectations for revenue at 64 pct and expectations for profitability rising 2 pct to 59 pct. Greek business people were also more pessimistic over exports, with expectations falling to 49 pct from 52 pct. Greek employers recorded a 3.0 pct increase in their intention to raise salaries to 24 pct in the second half of 2019, from 21 pct in the first half of 2019.