GREEK ECONOMY

The disbursement will provide state coffers with 1.72 billion euros in subsidies for 'Greece 2.0', bringing the funding Greece has received from the RRF to a total of 12.8 billion euros.

Tax returns totaled 2.129 billion euros, up 390 million from targets, while Public Investment Programme revenue totaled 1.756 billion euros, up 341 million from targets.

The country's harmonized inflation rate slowed to 4.5% in April this year from April 2021, after a 9.1% increase recorded in the same months in 2022/2021. The harmonized inflation rate rose 1.1% in April from March 2023.

ELSTAT's risk of poverty report says that the population at risk of poverty or social exclusion decreased by 2.0 percentage points compared to 2021, while the projected risk of poverty fell further by around 3 percentage points and is at its lowest level since 2010.

In March 2023, deposits placed by households and private non-profit institutions increased by 738 million, compared with a decrease of 202 million in the previous month; the annual growth rate increased to 3.6% from 3.2% in the previous month.

The figures, approved by Eurostat, said that the general government's debt dropped by 23 percentage points to 171.3% of GDP in 2022 from 194.6% of GDP in 2021.

In February, the capital account surplus increased relative to February 2022 and stood at 275.3 million euros, mainly as a result of net receipts, instead of net payments, recorded in the other sectors of the economy excluding general government.

The general government balance showed a suplus of 211 million euros in the January-March period from a budget target for a deficit of 2.602 billion and a deficit of 3.884 billion in the corresponding period last year.

The improved growth outlook for Greece comes amid a volatile recovery of the global economy, with the IMF noting that global growth outlook for the next five years was the lowest in some decades.

The Finance minister underlined the fact that the government has managed to keep the society standing and the economy alive during its four-year term, despite the great difficulties it faced, such as the pandemic, the energy crisis, and others.