Growth beats forecast in 2022

The Greek economy outperformed the European Union average for a second year in succession in 2022, securing a growth rate of 5.9%, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday. According to Eurostat's provisional data, the growth rate in the eurozone was 3.5% and in the European Union 3.6%.

The government's estimate according to the budget was for a growth rate of 5.6%.

Based on these figures, this year's growth is also expected to perform better than the budget estimate: While the budget foresees a rate of 1.8%, it is estimated that it will eventually be more than 2%.

According to an analysis by National Bank of Greece and its chief economist Nikos Magginas, "the implied positive carryover effect from the 2022 growth result to the gross domestic product increase in 2023 is revised upward to +1.5% on an annual basis, compared to a previous...