Greek Economic Outlook June

Source: ELSTAT, Piraeus Bank Research

Having reached the middle of 2021 and especially after the announcement by ELSTAT of the GDP data for the first quarter of 2021, our forecast for growth at the level of 6% for 2021-2022 - which was initially considered optimistic - has now been adopted as the basic scenario of the majority of analysts of the Greek economy. Greek GDP can continue to grow at a rate of 3.5% -4% in the medium term, putting the Greek economy on a significantly higher growth trajectory than pre-COVID levels.