Greece’s economy is projected to continue growing steadily, with a growth rate of 2% in 2024 and 2.5% in 2025. This growth is fueled by rising employment rates, increasing real wages, and a robust tourism industry that is boosting consumption. Despite a slowdown in new job creation, the employment rate and labor force shortages are at historically high levels.
Inflation is expected to continue declining, albeit at a slower pace, with a forecasted easing to 2.1% in the last quarter of 2025. The report predicts a primary surplus of 1.8% of GDP in 2024 and 2.1% in 2025, as efforts to reduce public debt are showing progress. Public debt is estimated to decrease from 161% of GDP in 2023 to 151% in 2025, with economic growth and improved tax collection boosting public revenues.
Wage growth in Greece reached 5.5% in the fourth quarter of 2023, with the minimum wage also seeing significant increases in April 2023 and April