State Department report highlights Greece’s positive prospects

Greece has rebounded since the 2009-2018 financial crisis that saw real GDP decline by 25 percent. Modest growth began to return in 2019 and unemployment dropped from its crisis peak of 35 percent in 2013 to 12 percent in 2022, the State Department said in the 2023 Investment Climate Statements.

"The Government of Greece has implemented reforms and attracted investment by cutting red tape, boosting innovation and entrepreneurship, digitizing government services, and enabling more rapid growth in the renewable energy sector. Greece's debt-to-GDP ratio decreased by more than 20 percent in 2022 - reflecting robust growth, fiscal adjustment, and higher inflation - and it benefits from relatively low debt servicing rates that should allow Greece to easily service its debt for the foreseeable future. Most major ratings agencies upgraded Greece's sovereign debt rating to one notch...