Greece is projected to experience economic growth of 2.1% this year, according to IOBE, the country’s leading think-tank. This forecast represents a downward revision from the previous estimate of 2.4% growth, made in January. Despite this adjustment, the Greek economy is expected to expand nearly 3% in 2021, approaching its pre-crisis size of 2009.
The government had originally estimated a growth rate of 2.9% for the current year, but the revised projection falls short of this target. Nonetheless, it still exceeds the euro zone average growth rate of just 0.8%. The key drivers of economic activity in Greece for 2021 are anticipated to be tourism, investment, and private consumption.
Looking ahead, while the outlook for Greece’s economy remains positive with strong growth expected in the near future, there may be challenges that could impact its performance. Nevertheless, with these key sectors driving expansion, Greece’s economy is well positioned for success in the coming months.
