Greek economy at better level than other European economies

Nikos Vettas, Director General, IOBE and professor, Athens University of Economics, Grigoris D. Dimitriadis, managing director of the Superfund, Nikos Karamouzis, president, Grant Thornton and Haris Lambropoulos, president of the Hellenic Development Investment Bank, speaking at the Fortune Greece CEO Initiative, came to the common conclusion that despite the new challenges facing the Greek economy, it will stand at a better level than other European economies in 2023, despite the fact that the performance will fall short of 2022.

Mr. Vettas noted that Greece has “reservoirs” that will allow it to maintain the positive dynamics it has developed, but he pointed out that the country should also be prepared for the unfavorable scenario where the European environment will be derailed, due to the consequences of the war in Ukraine and the energy crisis. Greece’s steps should focus on extroversion and innovation. He pointed out that there is huge liquidity due to the Recovery Fund, pointing out the need for proper use of the funds. The Greek economy is potentially at the beginning of a positive cycle.

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An election year

Mr. Dimitriadis expressed his optimism that the economy will continue to grow, stressing that there must be a continuation of all efforts even though 2023 is an election year, something very important for continued FDI in Greece. He referred to the investment interest that exists for Greece with an emphasis on areas such as real estate development

Mr. Karamouzis emphasized that the ECB should not proceed with a front-loading increase in interest rates, given that the problem in Europe is a cost and supply problem. He referred to the small sizes of Greek SMEs compared to their European counterparts and spoke of the boldness on the part of businesses to seek capital to invest in their own businesses and not rely only on the state.

Mr. Lambropoulos pointed out that 2023 will be a year full of challenges pointing out that the dynamics of the Greek economy has taken a course and needs consistency in adapting to the fiscal goals. Speaking about the funds of the Recovery and Resilience Fund he said that they represent a historic challenge and a unique opportunity to be used and not just absorbed, emphasizing the same participation. Foreign funds have put Greece on their radar, they see Greek talent and development prospects, he added.