Economist: Greece had the best performance among 34 developed countries in 2022

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Apart from Greece, other countries of the European South, such as Portugal and Spain, also had high performances. On the contrary, Germany had a low performance, which was ranked 30th

The best performance among 34 countries, mostly rich, was Greece in 2022, according to an analysis by the Economist.

The ranking of countries was based on the data of five economic indicators related to GDP, inflation, the range of inflation, i.e. the percentage of products that increased by more than 2%, the performance of the stock market and public debt.

Apart from Greece, other countries of the European South, such as Portugal and Spain, also had high performances. In contrast, Germany underperformed, ranking 30th, while Estonia and Latvia were in the last places.

Greece’s GDP in the period from the fourth quarter of 2021 to the third quarter of 2022 increased by 2.2%, while in Italy it increased by 1.8%, in Spain by 1.5% and in Germany (1.3%) . In contrast, in Estonia GDP decreased by 3.1% in the same period.

Consumer prices increased by 7.8% in Greece in the first 10 months of 2022 and 82.4 of the products increased by more than 2%. In Italy, inflation rose 10.8% but the range was 64.7%. In France, price increases were 5.6% and price range 76.5%. In Germany, prices increased by 10% in the same period and the range of increases was 88.2%, while the highest inflation was in Estonia (16.7% with a range of 94.1%).

Stock prices on the Athens Stock Exchange rose 0.8% in the 11th month of 2022, while prices fell in most countries. In international markets, shares plunged 15% over the same period.

Shares in Germany and South Korea have fallen nearly 20% this year, double the decline seen in the US.

Greece was the champion in the reduction of net public debt, which is estimated, as reported by the Economist, to have decreased by 16% as a percentage of GDP, while other countries saw a smaller decrease or increase.

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