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IMF Sees 3.8% GDP Growth in Greece for 2021

Photo source: Hellenic Parliament

The International Monetary Fund (IMF) is forecasting that the Greek economy will grow by 3.8 percent in 2021 despite the ongoing coronavirus (Covid-19) pandemic.

The latest edition of the IMF’s World Economic Outlook report foresees that GDP growth will reach 6.9 percent in Greece in the last quarter of 2021.

Furthermore, for 2022, the IMF predicts an annual GDP growth rate of 5 percent for Greece.

It is reminded that the coronavirus crisis had severely affected Greece’s economy in 2020, when recession reached 8.2 percent.

Greece -2021 Projected Real GDP (% Change).

Source: IMF

IMF’s latest data is slightly lower than its previous forecast for Greece, announced last fall. Then, the Fund had predicted that Greece’s GDP would grow by 4.1 percent in 2021.

According to the IMF, the impact of the pandemic on Greece’s GDP is milder compared to other EU countries. The Fund’s data for 2021 indicate that Eurozone countries will see a GDP growth of 4.4, compared to a 5.2 percent growth predicted in late 2020.

Global growth is projected at 6 percent in 2021, moderating to 4.4 percent in 2022.

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