Greece’s Economy Projected to Grow Nearly 3% this Year, Despite Downward Revision in Forecast
Greece’s economy is projected to grow by 2.1% this year, according to the country’s think-tank IOBE. This forecast has been revised down from the previous estimate of 2.4% in January. The new projection is lower than the government’s estimate of 2.9% growth for this year.
Despite the downward revision, Greece’s economy is still expected to grow nearly 3% this year, approaching its pre-crisis size in 2009. This growth rate far exceeds the euro zone average of 0.8%. Key drivers of economic activity in Greece this year are expected to be tourism, investment, and private consumption.
With tourism, investment, and private consumption driving growth, Greece’s economy is on track for a solid performance in the near future. However, there may be challenges ahead that could impact the country’s economic performance. Despite these challenges, overall the outlook for Greece’s economy remains positive with strong growth expected in the coming year