PM revises economic growth to 5.9% this year, from 3.6%
Greece’s economy is expected to grow 5.9% this year, faster than the 3.6% growth previously forecast, Prime Minister Kyriakos Mitsotakis said in his annual economic speech on Saturday.
Greece emerged from a decade-long financial crisis in 2018, but saw its economy collapse again by 8.2% last year due to restrictions aimed at curbing the spread of the COVID pandemic. 19.
“Today we are announcing the revision of the (growth) target for 2021 from 3.6% to 5.9%,” Mitsotakis said. “In an economy that will give opportunities to every citizen, without leaving anyone behind. “
As Mitsotakis spoke in Greece’s second-largest city of Thessaloniki, more than 15,000 people demonstrated there on issues ranging from economic policy to coronavirus vaccines. Short-lived clashes erupted between anti-vaccine protesters and police, who fired tear gas and water cannons to disperse the crowds.
The Greek economy grew by 3.4% in the second quarter of this year, beating forecasts and giving the government fiscal leeway to make tax relief measures.
Its annual expansion rate reached 16.2%, thanks to a pickup in consumer spending and investment.
Analysts attributed the second-quarter growth primarily to the lifting of lockdowns, pent-up demand and a boost from state support measures, and less to tourism, the impact of which is expected to show in the future. third trimester.