Bank of Greece, 2.5% growth in 2025 - Economy will expand thanks to high investment and consumption
The Bank of Greece forecasts economic growth of 2.5% in 2025, supported by investment, high consumption and wage growth. Despite global uncertainty, the economy is expected to grow faster than the eurozone average.
The Bank of Greece projects that the country's economy will expand at a faster pace this year than in the next two years. The central bank believes that the acceleration of Gross Domestic Product in 2025 will be supported by rating upgrades from international credit agencies.
In more detail, the central bank sees the economy growing by 2.5% in the current year, marking an increase of 0.2 points compared to 2.3% in 2024. Projections for the following years show a slowdown, with growth rates predicted at 2.3% in 2026 and 2% in 2027. The monthly bulletin notes that the Greek economy will achieve significantly higher growth rates in 2025 and 2026 compared to the eurozone average.
The Foundation for Economic and Industrial Research agrees with these optimistic forecasts, predicting a growth rate of 2.4% for 2025. Despite the positive outlook, uncertainties in the international environment remain concerning.
The main drivers of economic activity in Greece will continue to be investment spending, boosted by European financing, and strong consumption. Consumption is expected to benefit from higher real disposable incomes due to continued employment growth, rising wages, and easing inflationary pressures.
Furthermore, the projected reduction in the public debt-to-GDP ratio, expected to fall below 150% by 2025, combined with the achievement of primary fiscal surpluses, is expected to further improve investor confidence.
Some risk factors that could affect are the worsening economic climate in the Eurozone, the increase in protectionist measures, and the escalation of conflicts in Ukraine and the Middle East.
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