United States Office of Management and Budget

Greek tourism authorities and businesses are expressing reserved optimism regarding the sector's course in 2023.

This optimism is based both on the first indications from bookings for this season and the number of seats to Greece planned by the airline companies.

The economy will grow by 4%-4.3% this year, according to the baseline scenario of the Foundation for Economic and Industrial Research (IOBE), undercutting the more optimistic forecasts for a 4.8% expansion by the government, 5% by the European Commission and 5.7% by the International Monetary Fund.

Fitch Ratings announced on Friday that it has affirmed Cyprus' credit rating at "BBB" but has revised its outlook to stable.
Fitch said that the revision of Cyprus' outlook reflects the impact of the global Covid-19 pandemic on the country's economy and on its sovereign fiscal position.

The Bank of Greece's baseline scenario for 2020 is zero growth, compared with its previous estimate for 2.4 percent, according to a report released by Governor Yannis Stournaras on Friday.

The Eurogroup has postponed the "battle of forecasts" on the Greek budget until after the European elections. On June 5, the report of the European Commission on the third post-bailout assessment will reflect its own estimate of the Greek primary surplus (and the recent voting of measures for 2019). However, the big battle will take place this fall.