x

Economy

Greek Economy Grew by 2.8% in Third Quarter

December 7, 2022

ATHENS – The Greek economy grew by 2.8% in the third quarter of the year compared with the same period in 2021, but fell by 0.5% on a quarterly basis compared with the second quarter, Hellenic Statistical Authority said on Wednesday.

More specifically, on a quarterly basis, the country’s Gross Domestic Product fell 0.5% in the third quarter after rising by 2.2% in the first quarter and by 0.6% in the second quarter. The statistics service attributed the third quarter reading to the negative effects of significant subsidies on energy products, which counterbalanced an increase in gross added value.

Final consumption spending grew 3.6% (households up 6.2% and general government down 3.9%). Private investments (gross fixed capital) rose 7.7%, exports of goods and services edged 0.9% up (goods fell 0.3% and services rose 3%), while imports rose 5.2% (goods were up 8.6% and services fell 4.6%).

On a quarterly basis, final consumption spending eased 0.6%, private investors rose 0.1%, exports fell 3.3% and imports eased 0.3%.

The Greek state budget envisages a GDP growth rate of 1.8% next year from 5.6% in 2022, with the country’s GDP expected to rise to 224.134 billion euros in 2023 from 210.170 billion this year.

RELATED

ATHENS - Prime Minister Kyriakos Mitsotakis called on the voters to send a message of stability in the European Parliament elections on June 9, noting that the country has a stable four-year government and that political instability is "the last thing it needs".

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

Sour Patch Kids Oreos? Peeps Pepsi? What’s Behind the Weird Flavors Popping Up on Store Shelves

Van Leeuwen Ice Cream usually draws customers with gourmet takes on classics like vanilla and pistachio.

WASHINGTON  — As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips & Clamps Industries, a Michigan auto supplier — raising its materials prices, making it harder to compete with overseas rivals and costing it several contracts.

NEW YORK  — Donald Trump’s legal team rested its case Tuesday in his hush money trial after calling just two witnesses and opting not to have the former president take the stand in his own defense.

Artificial Intelligence will provide us with one surprise – hopefully mainly good ones – after another far into the future, but for some people, especially writers and readers of science fiction, some of the news will be old news.

NEW YORK – Effie Lazaridou, CEO of New Agriculture New Generation (NANG), spoke with The National Herald about the organization which she has led since it began in 2018 and which aims to create employment and entrepreneurship opportunities for young people in the agrifood industry in Greece.

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.