The Governor of the Bank of Greece, Yannis Stournaras, is submitting the Report on Monetary Policy to the Parliament today.

The country’s central bank, according to information, predicts that the GDP will increase this year by 2.2% and by 2.7% – 3% in 2024, with the help of the resources from the Recovery Fund and the NSRF.

In terms of reforms, it is recommended to continue the effort in order to improve the competitiveness of the Greek economy.

Special mention is made of the course of the country’s Current Account deficit, which has widened.

On the fiscal policy front, the BoE estimates that a prudent policy should be continued with the achievement of primary surpluses in the coming years, thus contributing to the de-escalation of the Public Debt which reached 171.3% of GDP in 2022, remaining the highest within the EU.

With reference to the course of the banks, the significant improvement that has been achieved is highlighted, however, it is emphasized that the effort to further reduce non-performing loans should be continued, as the relative index, which was around 8% at the end of 2022, remains much higher in compared to the EU average which is 1.8%.