The draft state budget for 2024, which will be tabled in the Parliament on Monday, sees higher pensions by 3.1%, lower inflation compared to the initial forecasts and growth rate higher than 2% in 2023 and close to 3% in 2024.
The draft budget will also include all the measures related to the increase in salaries in the private and public sectors.
The financial staff estimates that:
- Inflation this year will be close to 4%, lower than the 5% predicted in the 2023 budget. For 2024, inflation is estimated to fall further to 2.5%.
- Growth rate at 2.2%-2.3% in 2023, i.e. without deviating from the estimates of the Stability Program. As for 2024, with investments and funds from the Recovery Fund as the main vehicle, the Greek economy is estimated to grow at an even higher rate of 3%.
National Economy and Finance Minister Kostis Hatzidakis has revealed that the rate of increase for pensions in 2024 will reach 3.1%. He also estimated that the primary surplus will reach 0.7% for 2023.
The budget reflects the Greek economy’s return to normalcy after four difficult years marked by the coronavirus pandemic, the Ukraine war, and high prices. Prime Minister Kyriakos Mitsotakis and National Economy & Finance Minister Kostis Hatzidakis asserted that Greece is fully keeping its commitments, and its fiscal performance will be within the framework of the Stability Program.
