Foundation for Economic and Industrial Research

Greece's pharmaceutical industry is going from strength to strength, registering a new high in output last year and continuously expanding production, according to a study by the Foundation for Economic and Industrial Research (IOBE).

The short- and long-term car rental sector is estimated to directly contribute 1.3 billion euros to Greece's gross domestic product, based on 2022 data.

Greece's food and drink industry remains the largest domestic manufacturing domain, as it was during the crisis. This is reflected not only in the number of businesses and employees, but also in the gross added value of these industries in Greek manufacturing.

High plot rates, combined with the realization by some house builders that the prices of newly built properties are unlikely to keep rising at the same pace, seem to have put a brake on new housing construction.

Based on the seasonally adjusted data of the Hellenic Statistical Authority (ELSTAT), in this year's first quarter investments in housing decreased by 14% on an annual basis.

The number of card transactions carried out in Greece grew 20-fold in the period 2014-2022, with their value increasing nine times at the same time.

The IOBE was added to the organizations that have downwardly revised their forecasts for this year's Greek growth, placing it at 2.1%, against a previous estimate of 2.4%, its General Director Nikos Vettas said on Tuesday while presenting the report of the Foundation for Economic and Industrial Research for the first quarter.

Accountability and transparency are severely lacking in the National Health System.

A study of 90 hospitals and their accounting statements from 2012-20 by the Foundation for Economic and Industrial Research (IOBE) has found rudimentary reporting that focuses on what state subsidies are spent on and makes no mention of how supplies are used and the state and age of the inventory.

Funds of more than 52 billion euros are to be mobilized in the construction sector (public, private projects and residential property building) in the period 2024-2026, through the Recovery Fund, the National Strategic Reference Framework and bank lending.

The increase in the minimum wage also creates pressures for salary increases for other employees in Greece, especially in small businesses and some industries, such as services.

Demographics is a matter of "major importance" for Greece due to the serious challenges it causes both in terms of economic development and social stability, according to the Foundation for Economic and Industrial Research (IOBE).