The Foundation for Economic and Industrial Research (IOBE) forecasts a 2.1 percent growth for Greece's economy in 2024, slightly exceeding the previous year's rate.
The projected growth is expected to be driven by strong investments, particularly in fixed assets, and continued household consumption, according to the study. While the report predicts a deterioration in the current account deficit due to increased imports and slightly decreased exports, unemployment is expected to fall to 10.3 percent by year-end.
Inflation is projected to remain at a moderate 3.0 percent for the year, mainly due to higher energy costs. The banking sector is showing positive signs, with increased credit to businesses and improved profitability, but challenges such as rising non-performing loans and high interest rate margins remain.
Professor Nikos Vettas, IOBE's General Director, highlighted the crucial role of investments in maintaining economic momentum. He stressed the need for significant investment growth and timely execution of the National Recovery and Resilience Plan to achieve long-term growth targets.