kathimerini.gr
Greek Economy to Grow 2.3% in 2025 Despite US Tariff Risks
The Bank of Greece's annual report forecasts 2.3% Greek economic growth in 2025 despite US tariff risks potentially causing a global trade war and impacting investment, while highlighting the need for continued reforms to boost competitiveness and attract foreign investment.
- How might the indirect effects of a global trade war, triggered by US tariffs, affect the Greek economy and its growth trajectory?
- Increased global uncertainty, stemming from US tariffs, poses risks to the Greek economy, potentially impacting investment and growth through reduced demand for Greek goods and services. The report highlights the difficulty in quantifying these impacts due to various unpredictable factors.
- What is the Bank of Greece's assessment of the Greek economy's growth prospects amidst the potential global trade war sparked by US tariffs?
- The Bank of Greece maintained its 2025 growth forecast at 2.3%, significantly higher than the Eurozone average, despite concerns about US tariffs potentially triggering a global trade war. Greece's limited direct exposure to the US minimizes immediate impact, but indirect effects from global trade slowdown are possible.
- What structural reforms are crucial for Greece to enhance its economic competitiveness, investor confidence, and resilience against future crises, considering the challenges posed by global uncertainties and domestic issues?
- Greece's economic resilience depends on continued fiscal discipline, investment attraction, and structural reforms focusing on productivity, innovation, and a sustainable growth model. Delays in justice reform hinder investor confidence and economic stability, undermining competitiveness and attracting foreign capital.
Cognitive Concepts
Framing Bias
The framing emphasizes the negative potential consequences of a US-led trade war and the challenges facing the Greek economy, such as low competitiveness and slow judicial reforms. While the 2.3% growth prediction is mentioned, it's presented as a contrast to the overall negative tone, potentially downplaying its significance. The headline (if any) might also contribute to this framing.
Language Bias
The language used is generally neutral and factual, reporting on economic data and the Governor's statements. There is no use of overtly charged language. However, the repeated emphasis on negative aspects like 'challenges', 'risks', and 'weakening competitiveness' contributes to an overall negative tone.
Bias by Omission
The report focuses primarily on the potential negative impacts of a US trade war on the Greek economy. While it mentions the 2.3% growth prediction for 2025, it doesn't delve into the factors contributing to this positive outlook or explore potential counterbalancing economic strengths. The analysis of competitiveness also highlights weaknesses but lacks a balanced presentation of areas where Greece is performing well. Omission of positive economic indicators might lead to an overly pessimistic view.
Sustainable Development Goals
The article highlights Greece's economic growth projection of 2.3% in 2025, exceeding the Eurozone average. This positive outlook contributes to decent work and economic growth. However, the report also acknowledges risks from global trade tensions that could negatively impact this growth, thus impacting decent work and economic growth. The emphasis on attracting investments, implementing reforms to boost productivity and innovation, and diversifying the production base all directly support sustainable economic growth and job creation.