Greece's economy to grow 2.3 pct in 2025: central bank
ATHENS, June 19 (Xinhua) -- Greece's economy is projected to grow by 2.3 percent in 2025 and 2.0 percent in 2026, according to the Monetary Policy Report released Thursday by the Bank of Greece, the country's central bank.
The report was submitted to both the Greek parliament and the cabinet on the same day, reaffirming projections outlined in the 2025 state budget, which was approved by the parliament seven months ago.
The Greek economy grew by 2.2 percent in 2024.
According to the central bank, domestic consumption will remain the primary driver of economic growth, while investment and exports are also expected to make positive contributions.
The Bank of Greece commended the country's economic resilience in the aftermath of the 2009-2018 sovereign debt crisis, highlighting Greece's ability to maintain a steady pace of growth despite multiple external shocks.
However, the report also issued a warning about growing international risks.
"The global economy is set to slow further in 2025, weighed down by a more restrictive environment for international trade and a sharp increase in uncertainty due to U.S. trade and economic policies, as well as resurgent geopolitical tensions," it stated.
Potential threats include rising trade protectionism, a sharper-than-expected slowdown in the euro area, and heightened uncertainty in global markets and the energy sector. These factors, the report warned, could have adverse effects on Greece's economic trajectory, said the report.
In light of these challenges, the central bank called for the continued pursuit of prudent fiscal policy, the accelerated implementation of structural reforms, and the full absorption of available European Union (EU) funding.
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'To my younger self: Hold fast to your belief. To my future self: Do not forget your original aspiration,' he replied. – Xinhua
