Greece's growth rate will remain "robust" and above the Eurozone and EU average in 2025 and 2026, according to the European Commission's Autumn 2024 Economic Forecast released on Friday.
GDP growth in Greece is expected to reach 2.1% in 2024, 2.3% in 2025 and 2.2% in 2026, supported by the implementation of the Recovery and Resilience Plan (RRP).
The Commission's forecast for GDP growth in 2024 in the euro area is 0.8%, while for the EU as a whole it is 0.9%. In 2025, GDP is forecast to accelerate to 1.3% in the euro area and 1.5% in the EU, while in 2026, these figures are forecast to be 1.6% and 1.8%, respectively.
Inflation in Greece is expected to run at 3% in 2024 and then decline gradually to 2.4% in 2025 and 1.9% in 2026. Inflation in the Eurozone in 2024 will be 2.4% and decline to 2.1% in 2025 and 1.9% in 2026.
The unemployment rate in Greece, now below 10%, is expected to continue to fall but more slowly than in the past. The general government deficit is expected to continue to shrink due to zero spending growth. Along with steady growth in nominal GDP, this is expected to contribute to a steady decline in Greece's public debt as a percentage of GDP, which is forecast to drop to 140% of GDP by 2026.ω
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