Economist Intelligence Unit: Greek economy growth in 2022 at 4%

The Economist Intelligence Unit (EIU) maintained its forecast for the growth of the Greek economy unchanged at 4% in 2022, although it revised the corresponding estimates for the global and European economy downwards, in the shadow of the war in Ukraine and the galloping inflation in food and energy prices.

Referring to the "Greek exception", during her speech at the 26th Annual Economist Roundtable, the EIU's director for Europe, Joan Hoey, forecast 4% growth for the Greek economy this year, following growth around 8% last year. She opined that despite the blows the Greek economy and consumers will receive, growth will be supported by a possibly brilliant year for Greek tourism.

Besides tourism, Greece has access to EU recovery funds that will support the economy this year and in the years to come. Ms. Hoey believes Greek authorities have done very well in implementing this program, much more so than other countries.

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Referring to the forecast for Europe and the eurozone, during a discussion with Economist diplomatic editor Daniel Franklin, Ms Hoey pointed out that the region as a whole would be hit comparatively harder, taking a hit of almost 3%, with growth hovering at 2.2%, while before the war started the Economist had forecast 4%. She also noted that even if growth slows "to nothing" for the rest of the year, there will still be signs of recovery and "actually, historically speaking, 2.2% growth in the eurozone doesn't sound that bad."

Regarding the global economy, Ms. Hoey pointed out that based on the EIU estimates about 1 trillion. dollars will be lost this year from global growth, with its pace...