ELSTAT: 2.1% annual growth of the Greek economy in the first quarter of 2023

A decrease of 0.1% compared to the fourth quarter of 2022, according to the data published today Wednesday by the Hellenic Statistical Authority (ELSTAT).

Forecasts for GDP growth of 2% in 2023 and 2024

An important factor that had a positive effect for this year is the course of reduction in natural gas prices, which continues, which “leaves” more resources in the budget and gives more points to the rise of the Greek GDP. At the same time, the data shows that there is a significant improvement in exports, while tourism also shows a large increase compared to the first quarter of 2022, which affects the Greek economy.

In addition, the deficit in the current account in the period January-March this year amounted to 6.36 billion euros from 8.12 billion euros in the corresponding period last year. The difference of 1.8 billion euros is important for the strengthening of the GDP, although the size of the deficit remains high and dangerous for the course of the Greek economy.

Even the figures of the turnover of the companies show a significant increase, of the order of 8.3% compared to last year, with the percentage being significantly higher than the inflation of the specific period, which is expected to strengthen the growth.

Eurostat’s forecasts also give a positive signal, as the eurozone economy recorded marginal growth in the first quarter.