Recovery Fund

Investments via the Recovery Fund will be in full swing in 2023 and if the elections do not stop the momentum that has developed, the Finance Ministry calculates that only the private investments that will have been launched by the end of the year with its loans or subsidies will reach 14 billion euros.

The Kryoneri Observatory in Corinth is being upgraded with the aim of turning into the largest space hub in southeastern Europe.

More specifically, the Development and Investment Ministry is funding the institution with 10.8 million euros from the EU-backed Recovery Fund for the purchase of new radars, lasers, a state-of-the-art robotic telescope and other necessary equipment.

Information technology mergers and acquisitions did not show the same intensity in terms of value in 2022 compared to other years. For example, in 2021 for a single acquisition, that of Intrasoft from the Danish Netcompany, a price of 225 million euros was recorded, with the value of all acquisitions in 2022 not even half of that amount.

Barring extreme scenarios, the Greek economy is not expected to enter a recession in 2023. Or will it? For Greece, numerous analyses predict that in 2023 a strong growth of around 6% will be recorded, and for 2023 close to 2%, while the Eurozone and Germany are entering recession. Recently, there is a major outlook revision for the Eurozone economy.

Swiss bank UBS proceeded to an upward revision of the growth for Greece to 5.7% this year, from 4% which was the previous forecast, mainly as a result of the strong impact of tourism, also foreseeing that in 2023 the growth rate of the GDP will reach 4% (from 4.7% which was the previous estimate).

Deputy Minister of Finance, Theodoros Skylakakis, referred to the progress made in the absorption of the resources of the National Recovery and Resilience Plan "Greece 2.0".

The unique advantage of wine tourism in Greece, which offers a complete tourism experience, was highlighted by the Minister of Rural Development and Food, Mr. Giorgos Georgantas, in his address at the "Wine Tourism: the next day" event, organized by "Achaic Development" at the Achaia Claus facility.

As the government measures its fiscal stance to announce new consumer-intervention measures, a week of revelations is coming starting tomorrow, both on the inflation front and on GDP. The financial staff expects to see the impact on the economy from the high levels of inflation in the economy and revenue.

There are too many problems that young people have to face in Greece, as the latter has not been a hospitable place for many decades, and that was one of the main reasons why many young people decided to leave. This was also stressed by the Minister of State, Mr Akis Skertos, speaking to ERT channel about the brain drain and how it will be reversed.

Taxation

The Vice President of the European Commission, Margaritis Schinas and the Minister of Labor and Social Affairs, Kostis Hatzidakis visited the Vocational School of the Public Employment Service - D.Y.P.A. in Egaleo, on the occasion of Europe Day.