Budget Office

Nominal wage increases should not be excessive and should be proportionate to economy's ability to sustain them, the Greek Parliament's Budget Office warned in a report released on Monday on the fourth quarter of 2023.

The draft budget report 2022 presents marginal changes in relation to the draft, according to the Budget Office of the Parliament.

"The estimated growth rate of this year has increased to 6.9% (compared to 6.1% in the Preliminary Plan), while the forecast for 2022 has remained unchanged at 4.5%," it said.

In its annual report delivered to House Speaker Nikos Voutsis on Friday, the Parliamentary Budget Office issued a clear warning to the government that the economy needs its help if it is to recover.

"Unless uncertainty regarding the course of future policy is eliminated and the governance rules change, the economy will not recover," the report states.

The financial cost of the delays in the bailout review procedures could turn out to be greater that the possible benefits - that may also prove temporary - of a final agreement on the adjustment program, according to the quarterly report by the Parliament's Budget Office that was released on Friday.

Greek lawmakers passed the budget bill for next year, boosting state revenues through indirect taxation and cutting spending, Kathimerini English reports.

The Greek Parliament's Budget Office on Wednesday strongly criticized the government's forecasts for the economy and its planned policies as reflected in the draft budget.

 Report says there is no plan for the period after the bailout program, and monitoring will certainly continue