The average annual rate of change of Greece’s real Gross Domestic Product (GDP) is estimated at 2.2% for the year 2023, according to the forecasts of the factor model for the short-term GDP prospects of the Greek economy of the Center for Planning and Economic Research (KEPE).

KEPE today announced the forecasts of the factor model and, in addition, notes that, at the same level of 2.2%, the average annual rate of change of the country’s GDP for the year 2024 is predicted to be formed. This assessment, as mentioned, suggests that the Greek economy will remain on an upward trajectory, maintaining a satisfactory growth rate.

It is also noted that “based on the volatile conditions that prevail at the present time, the forecasts for the development of the real GDP of Greece are subject to a significant degree of uncertainty. As in the year 2023, so in the year 2024 the EU economies are facing significant inflation challenges and interest rates, while at the same time the risks arising from geopolitical tensions and the climate crisis also appear serious. On the other hand, the possibilities of the country to achieve a more favorable development of the GDP, through the opportunities offered by the gradual improvement of the economic conditions in the EU, the continuous positive outlook of the main branches of the Greek economy, are also remarkable at the present stage. the upgrading of the country’s creditworthiness and the implementation of reforms and investments by utilizing the resources of the Recovery and Resiliency Fund and the new NSRF”.