Greek economy expected to grow 5.2% in first half of 2022, survey finds

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The continuation of the pandemic continues to complicate forecasting the short-term trend of the country’s gross domestic product, but based on available data, Greek GDP is expected to grow by 5.2% in the first half of 2022 (7% in the first quarter and 3.5% in the second quarter), the Center for Economic Planning and Research said in a report Monday.

Specifically, the average annual growth rate of Greek GDP in 2021 will be 8.6%, while the average growth rate in the second half of 2021 will be 9.9%. These estimates incorporate official provisional data for the period January-September 2021 and a forecast of a growth rate of 6.4% in the fourth quarter of the year. For the first half of 2022, the growth rate is estimated at 5.2%.

These forecasts signal the recovery of the Greek economy in the fourth quarter of 2021 following the lifting of a significant number of urgent restrictive measures in the country. The survey noted that it was still difficult to accurately estimate both the negative impact of the pandemic and the impact of policy measures, such as the disbursement and phasing in of funds from the Recovery Fund. and resilience.

SOURCE: AMNA

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