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 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.
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.
Healthier tourist flows to Greece over the summer helped the Greek economy reclaim a significant part of Covid-19-induced losses, according to the European Commission.
Greece is moving faster towards growth approaching pre-Covid-19 crisis levels, said European Commissioner Paolo Gentiloni during an IOBE virtual event.
The European Commission revised down its initial growth forecast for Greece to 9% percent in 2020, due to the impact of the pandemic on tourism and exports.
Greece is looking to capitalize on dozens of public assets in an attempt to boost state coffers and drive the economy, according to Public Properties Company (ETAD) CEO Stefanos Vlastos.
