x

Economy

Budget: Growth Higher Than 5.3% in 2022, around 2% in 2023

November 6, 2022

ATHENS – The estimates for the 2023 budget figures are expected to be finalised over the following days with the main characteristic being the liquidity that exists in the international economic and political environment. It seems that despite the difficulties, Greece will maintain the positive momentum, while the GDP growth for 2022 will significantly exceed the initial forecasts.

According to the draft budget, Greece’s growth was expected to be around 5.3 pct. Banking officials, however, estimated that the GDP growth for this year would be above 6 pct.

Next Friday, November 11, the European Commission is expected to announce its estimates on how a series of important variables will move in the next year, which will be able to compose the final estimate for the course of the economy. These variables relate to the course of energy prices, the euro-dollar exchange rate, commodity prices, as well as the pan-European forecast for growth and inflation at EU level.

As soon as these forecasts are announced, in combination with the data available in the country, the Ministry of Finance will proceed with the final drafting of the text that will be submitted to the Parliament on November 20. According to the first available information, the growth rate for next year is locked around 2 pct after a positive performance in 2022, with the growth rate being well above the European average.

As for inflation in 2022, it is expected to be revised close to 10 pct from 8.8 pct that was included in the draft budget. Inflation is expected to be close to 5 pct in 2023 compared to 3 pct estimate in the draft budget.

RELATED

ATHENS, Greece  — Skies over southern Greece turned an orange hue on Tuesday as dust clouds blown across the Mediterranean Sea from North Africa engulfed the Acropolis and other Athens landmarks.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

A Palestinian Baby in Gaza is Born an Orphan in an Urgent Cesarean Section after an Israeli Strike

RAFAH, Gaza Strip (AP) — Sabreen Jouda came into the world seconds after her mother left it.

VENTURA, CA – Greek-American George Christie was featured on Fox News Digital (FND) for his time in the Hells Angels, recounting the moment he decided to quit the motorcycle club he had formerly led.

NICOSIA - The suspending of asylum applications from Syrian refugees on Cyprus has now been followed by President Nikos Christodoulides saying the island country that’s a member of the European Union can’t take any more in.

WASHINGTON - Although human rights groups have chided Greece’s record in dealing with refugees and migrants, alleging pushbacks the government denied happened, the US State Department said Greece’s record is essentially status quo.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.