OECD report: Greek economy stays resilient

TornosNews.gr 03.05.2024 | 23:04
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OECD report: Greek economy stays resilientInflation will continue to decline, but at a slower pace and is forecast to ease to 2.1% in the last quarter of 2025

The Greek economy remains resilient and is expected to grow at a rate of 2% in 2024 and 2.5% in 2025 as rising employment and real wages and strong tourism boost consumption, according to the OECD's six-monthly report (Economic Outlook), ANA reports.

Despite the slowdown in new job growth, the employment rate and labor force shortages remain at historically high levels, it was pointed out.

Wage growth reached 5.5% in the fourth quarter of 2023 on an annual basis, the OECD said, with the minimum wage increasing by 9.4% in April 2023 and a further 6.4% in April 2024.

The absorption of Recovery and Resilience Fund resources and continued improvement in bank soundness will support investment, in spite of tight financial conditions, the report added, with investment forecast to grow 9% in 2025.

RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report

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