IOBE reaffirms 2.4% GDP growth rate this year

Professor Nikos Vettas, head of IOBE, said while presenting the report that extetrnal challenges placed in danger the positive dynamism of the Greek economy.

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Τhe Foundation for Economic and Industrial Research (IOBE) on Thursday reaffirmed its forecast for a 2.4% GDP growth rate this year, on real terms, taking in view the slowdown of the European economy in conditions of high inflation, tighter fiscal and monetary policies and uncertainty. Consumption is expected to contribute significantly to economic growth with an 1.6% annual growth, combined with a 3.0% rise in investments (fixed capital investments up 10%).

The country is projected to record a slight improvement in its current account balance, with exports and imports rising by 3.5% and 2.6%, respectively, in 2023.

IOBE expects the Greek economy to grow by 2.4% also in 2024, with investments rising by 7.8%, consumption slowing to +1%, exports and imports rising by 2.6% and 2.3%, respecitvely.

Professor Nikos Vettas, head of IOBE, said while presenting the report that extetrnal challenges placed in danger the positive dynamism of the Greek economy.