Greece projects 1.8 pct GDP growth, 5 pct inflation in 2023

ATHENS, Nov. 21– The economy of Greece is forecast by the Finance Ministry to grow by 5.6 percent this year and by 1.8 percent in 2023, according to a revised estimate in the country’s final 2023 draft budget presented to Parliament on Monday. The projected growth figures in the initial draft, which was submitted in early October, were 5.3 percent for 2022 and 2.1…

ATHENS, Nov. 21 (Xinhua) — The economy of Greece is forecast by the Finance Ministry to grow by 5.6 percent this year and by 1.8 percent in 2023, according to a revised estimate in the country’s final 2023 draft budget presented to Parliament on Monday.

The projected growth figures in the initial draft, which was submitted in early October, were 5.3 percent for 2022 and 2.1 percent for 2023.

The forecast for the annual inflation rate has been increased to 5 percent from 3 percent for 2023. In the initial draft budget, the forecast for inflation in 2022 was 8.8 percent, rising to 9.7 percent in the new draft.

The primary surplus is expected to be 0.7 percent in 2023, up from a 1.6 percent deficit in 2022, the ministry said on Monday.

The budget highlights the Greek economy’s resilience during successive crises, but the government does not overlook the fact that the international environment remains “filled with high levels of uncertainty, rising dangers, new threats and great volatility, which affect our country as well,” Finance Minister Christos Staikouras said in a statement to Greek national news agency AMNA. Enditem

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