Greece’s Economy Set for 2.9% Growth in 2021 Due to Strong Investment

Greece’s economy is set to experience a significant boost in growth in 2024, thanks to the projections of increased tourism, higher investment and domestic demand. The government’s 2024 final budget shows an expected economic output increase of 2.9%, up from the 2.4% expansion projected for this year. This growth is expected to be fueled by European Union recovery funds, with Greece set to receive more than 55 billion euros from EU structural and recovery funds by 2027.

Investment is projected to grow by about 15.1% in 2024, more than double compared with the current year. With Greece regaining investment grade status for its debt, the economy is strengthening and attracting investment. The government has also announced plans for public asset sales, and there are pay raises for civil servants and pensioners included in the budget.

The country expects to achieve a primary budget surplus of 2.1% of gross domestic product in 2024, which is crucial for debt sustainability. While public debt remains high, it is anticipated to decrease from 160.3% of GDP this year to 152.3% of GDP in

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