Greece’s economy grows and exceeds expectations. There Central Bank of Greece recently updated its economic growth forecasts for 2023, setting them at 2.2%. This figure is higher than the euro area average and represents a slowdown compared to 2022, when an increase of 5.9% was recorded.
The main factors contributing to the growth ofGreek economy are domestic consumption and investment. The latter, in particular, continue to provide positive impulses for growth. Furthermore, the tourism sector maintains favorable prospects for 2023 as well, despite the uncertainty that still characterizes the international context.
The upward revision of Greek economic growth for 2023 compared to previous estimates is attributable to the carryover effect recorded in 2022, the year in which the country’s economy outperformed expectations. This is what emerges from the annual report of the Central Bank of Greece, led by Governor Yiannis Stournaras.