Staikouras Welcomes OECD's Positive Forecasts for the Greek Economy


Greek Finance Minister Christos Staikouras. (Photo by Eurokinissi/ Sotiris Dimitropoulos)

ATHENS -- Greek Finance Minister Christos Staikouras on Monday welcomed the forecasts of the Organisation for Economic Cooperation and Development (OECD) about Greece "as another sign of confidence on the government's economic policy and the outlook of the Greek economy".

The FinMin added that the outlook "seemed significantly improved for this year, in comparison with the organisation's previous forecasts, and even more dynamic in 2022". The Paris-based OECD expects the Greek GDP to grow by 3.8 pct this year (up from 3.4 pct in the previous estimate and 0.9 pct six months ago) and to grow by 5 pct in 2022. Staikouras said that that the OECD was added to a long series of institutions, credit rating agencies, banks and analysts, who revised their forecasts on the Greek economy upwards and converge in their estimate that in 2022 Greece will more than cover the losses suffered during the pandemic crisis. The OECD report also envisages a decline in unemployment, higher investments and fiscal adjustment through a rapid recovery and strong economic growth. Staikouras added that the OECD also acknowledged the efficiency of focused measures to support households and enterprises during the pandemic and confirmed that the national recovery and resilience plan "Greece 2.0" included several measures which could act as tools to boost productivity, strengthen environmental sustainability and improve the business climate in the country.