EU Commission sees Greece’s growth rate at 2.2% in 2024 and 2.3% in 2025

Greece's growth rate will reach 2.2% in 2024 and 2.3% in 2025, the European Commission said on Wednesday in its spring forecasts.

Harmonised inflation is estimated to fall to 2.1% next year while debt will further decline, it added.

"Following a very strong post pandemic recovery, in 2023, real GDP growth was still high at 2%. It remains well above Greece's long-term growth potential and the euro area average. Economic activity was driven by private consumption, that benefited from rising real disposable incomes, by investment in construction, and by net exports, while inventories were a drag on growth," the Commission said.

"With pent-up demand largely exhausted, private consumption is now mainly supported by rising real income and it is set to increase at a slightly lower rate in 2024."

The forecast said labour market segmentation set to slow...

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