Editorial Ta Nea: The dynamic of the Greek economy

The figures regarding the rise of Greece’s GDP in the first quarter of this year are extremely encouraging.

Undoubtedly, the Greek economy’s good Q1 performance is based on exports and in part on domestic consumption, which reflects its dynamic and endurance, despite the fact that the country had not yet completely freed itself of restrictive measures instituted for the management of the pandemic.

In assessing this accomplishment, which indicates that the economy is on a growth path, it is important to note that it contributes to strengthening the social fabric and extroversion, which is a primary objective.

Investments, which also appear to have taken a positive course, will also play a pivotal role.

On the other hand, in the current quarter, which has also exhibited an initial positive dynamic in the tourism sector, inflationary pressures and skyrocketing petrol prices already pose a great danger, which derives from the Russian invasion of and war against Ukraine.

That supranational issue has to do with the EU’s management of the “Russian [energy] vacuum” as it is shaping up today, and is linkage with the terms of global demand.

We must take into account that this overarching unfavourable environment, to the extent that there is no immediate solution (such as a new OPEC strategy), will be long-lasting.

That is yet another reason to continue on our positive track with ever greater intensity.