SAWT BEIRUT INTERNATIONAL

| 30 November 2021, Tuesday |

Greek economy set to grow 4.5% in 2022 on tourism rebound

The Greek economy is expected to grow by 4.5% next year, following a stronger-than-expected rebound this year due to higher tourism revenues and a boost from state support measures, according to the country’s fiscal council on Friday.

According to Finance Minister Christos Staikouras, the government expects the economy to grow by 7% this year, up from 6.1% projected in the draft budget released in October.

The fiscal council, an independent body that evaluates macroeconomic projections, said it agrees with the government’s projections but warned of risks in 2022.

“Fiscal risks may arise from any resurgence of the pandemic, necessitating new measures to support the economy,” the report stated.

“Long-term inflationary pressures, particularly in the energy sector, may necessitate compensatory measures.”