The Commission is forecasting 6% growth for Greece this year, double the eurozone average, but sees high energy costs and inflation leading to a considerable slowdown to 1% in 2023.
Some 6 million homeowners and 1.2 million businesses in Greece faced with repeatedly increasing electricity bills will receive double the aid offered in previous months for September.
Greece regained more freedom over its economic policy and entered a new era on August 20, leaving behind the European Union’s enhanced surveillance framework.
Greece exits enhanced surveillance status on August 20 two years ahead of schedule and after the early repayment of bailout loans to the International Monetary Fund (IMF).
The iconic Xenia Hotel and two thermal springs on the Greek island of Kythnos has been awarded to Israeli entrepreneur Avraham Ravid for a period of 99 years.
Tourism is Greece’s “strong card”, set to generate revenues in 2022 that will boost the economy despite the challenges, said Tourism Minister Vassilis Kikilias.
A total of 722 million euros in support to Greeks hit by the energy crisis will apply to all users irrelevant of income this month, said Greece's Energy Minister Kostas Skrekas.
The European Commission approved the release of the next tranche of debt relief to Greece, as the country prepares to exit enhanced surveillance status in August.
Greece’s real GDP will grow by 3.5% in 2022 and remain high at 3.1% in 2023, driven by a full tourism comeback, the European Commission said in its Spring Economic Forecast.
The Greek government is considering extending to the end of the year a reduced VAT scheme that currently applies to tourism, transport and F&B services.
Greek Prime Minister Kyriakos Mitsotakis on Thursday announced a 3.2-billion-euro energy scheme, in efforts to ease the impact of soaring energy costs on households and businesses.
The General Panhellenic Federation of Tourism Enterprises presented Finance Minister Christos Staikouras with 8 proposals during a recent working meeting, citing the challenges of Covid-19.
Greece completed the early repayment of bailout loans to the IMF two years ahead of schedule and could transit out of EU “enhanced surveillance” this summer.
