Economy of Greece
The Greek stock market opened the new year with another eight-month high on Monday, even if trading was a fraction of its usual size, due to the festive season and the fact that Wall Street was closed.
The positive mood prevailed throughout the day at Athinon Avenue, with banks leading the way up and rising stocks outnumbering falling ones by a ratio of more than five-to-three.
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.
Over the last two years, after the great trial of the pandemic, Greece was gradually showing signs of recovery and of the restructuring of its forces.
The Greek economy, despite the post-pandemic difficulties and the additional problems piled up by Russia's war against Ukraine, appeared to retain its dynamism and a strong desire for a restructuring and change of its productive model.
The Economist Intelligence Unit (EIU) maintained its forecast for the growth of the Greek economy unchanged at 4% in 2022, although it revised the corresponding estimates for the global and European economy downwards, in the shadow of the war in Ukraine and the galloping inflation in food and energy prices.
Latsco Hellenic Holdings (the family office of Marianna Latsi) and Orasis (the fund of George Elliott) will invest about 25 million euros in Dimand as cornerstone investors, acquiring a total of 8.92% of the company after the increase of share capital and while the company will now be listed on the Stock Exchange.
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.