Our View: Road to Recovery
CEO, Enterprise Greece
Greece is on the road to recovery. Despite the global impact of the coronavirus pandemic, the Greek economy is proving to be surprisingly resilient thanks to strong export performance and continued investment.
On a quarter-on-quarter basis, Greek GDP grew 4.4% in the first three months of the year – one of the best performances in the European Union. Compared with a year earlier, the Greek economy contracted just 2.3% in the first quarter – markedly better than expectations of a 9% decline.
Other economic indicators – like consumer and business sentiment, and industrial production – are also looking up. This means that the Greek government’s official forecast of 3.6% growth this year is achievable. Both the European Commission and the OECD now think Greece’s economy will grow even faster in 2021.
Graph Source: Hellenic Statistical Authority