At 5.5%, which is almost two percentage points higher than market estimates, UBS sets the target for its growth Greek economy this year.
The analysts of the Swiss investment house declare themselves constructive towards the development prospects of Greece this year due to:
1) The strong carry over statistic (approximately 1.6 percentage points).
2) The tourist season that starts earlier.
3) The preliminary approval by the Commission for the installment of 3.6 billion euros from the Recovery Fund, with the total funds that will flow this year to be estimated at 16 billion euros.
4) The increasing savings of households (household deposits increased in the period 2020-2021 by 19 billion euros or about 10%).
At the same time, UBS notes that the implementation of the 2022 budget started with the right.
In particular, it continues to exceed the targets, with the primary surplus in January-February reaching 847 million euros or about 1.1 billion euros better than the target.
UBS, moreover, refers to the early repayment of the latter from the IMF loans (1.9 billion euros) until the end of the month.
For 2023, UBS expects growth of 4.7%, which is also 1.4 percentage points higher than the consensus.
On the inflation front, the house forecasts speak of 3.5% this year and 1.3% in 2023.
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