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EU and Greece Economic Outlook

Analysis of the European Union's economic outlook, including inflation projections and growth forecasts, with specific focus on Greece's economic performance.

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Greek

Greece

EconomyEuropean UnionInflationEuropeGreeceGrowth

European CommissionEuropean UnionEurozone

Paolo Gentiloni

What are the main risks and uncertainties affecting the European economy?: Uncertainty and increased risks for the European economy are noted, mainly due to the ongoing war in Ukraine and the Middle East, along with protectionist measures from trade partners and internal political and structural challenges.
What is the projected GDP growth for the European Union in 2024 and 2025?: The European Union's economy is returning to moderate growth after a period of stagnation, with inflation gradually decreasing. The Commission's autumn forecasts predict GDP growth of 0.9% for the EU and 0.8% for the Eurozone in 2024, accelerating to 1.5% and 1.3% respectively in 2025.
How is Greece's public debt and deficit expected to evolve from 2023 to 2026?: Greece's public debt-to-GDP ratio is projected to decrease, reaching 143% by 2026 due to primary surpluses and nominal GDP growth. The government aims to increase tax compliance through digitalization, potentially boosting revenue in 2025.
How is inflation expected to change in the Eurozone and the EU from 2023 to 2026?: Inflation in the Eurozone is expected to fall to 2.4% in 2024 from 5.4% in 2023, further decreasing to 2.1% in 2025 and 1.9% in 2026. The EU's inflation is projected to decrease more sharply, reaching 2.6% in 2024 from 6.4% in 2023.
What are the projected growth rates and inflation levels for Greece in 2024-2026?: Greece's economy is expected to grow at a stable rate of 2.1% in 2024, supported by its recovery and resilience plan. Unemployment will continue to decrease, albeit slowly, while inflation is predicted to fall gradually from 3.0% in 2024 to 1.9% by 2026.

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