The EU Commission on Wednesday revised, slightly upwards, its forecast for Greek economic growth for 2022, now projecting that GDP will rise by 6 percent. A 4.3-percent growth rate for the current year remained unchanged .
The forecasts were included in the Commission’s summer economic forecast.
Specifically, the EU’s executive said Greece managed raise the seasonally-adjusted real GDP by 4.4 percent in the first quarter of 2021, despite pandemic-related restrictions imposed throughout the quarter.
Conversely, private consumption fell by 1.3 percent on a quarterly basis, while a scheduled increase in property taxes, set for in 2022, caused a fillip in the construction sector.
Real GDP is forecast to grow by up to 4.3 percent in 2021 and 6 percent in 2022. The annual inflation rate is expected to fall by -0.4 percent this year and 0.5 percent in 2022. The Commission added that its forecasts were subject to a high level of uncertainty.
