According to the annual report by the Union of Greek Shipowners (UGS), shipping is by far the most extrovertedsector of the Greek economy, with a total economic impact ranging between 7% and 8% of GDP each year.
Finance Ministry data shows robust tax revenue, lower expenditures and early income tax collections boosting fiscal performance beyond expectations
Tax Revenue Performance in the State Budget
The announcement noted that an amount of 1,993 million euros which refers to the time differentiation of payments from ordinary budget and an amount of 499 million Euros which refers to the time differentiation of investment expenditure, do not affect the General Government outcome in fiscal terms.
The ministry noted that an amount of 468 million Euros which refers to the time differentiation of payments from the ordinary budget and an amount of 473 million euros which refers to the time differentiation of Public Investment Programme payments, do not affect the General Government outcome in fiscal terms.
A significant part of the difference in relation to the target was due to an increase of cash revenue from the Public Investments Programme by 612 million euros and from the rollover of military procurement payments to 2025.
Inflationary pressures, however, are present, mainly triggered by the services sector, while no one can rule out a sharp increase in energy and food prices in the near future, given the fragile geopolitical environment and the impact of the climate crisis.
The Prime Minister at the 3rd Greek Investment Conference organized by Morgan Stanley in collaboration with the Athens Stock Exchange
By 2026, the reduction in public debt is expected to bring it close to 140% of GDP.
Over six in ten (65%) of households said that their financial situation worsened over the past year
The country remained in the same spot from last year's list and is sandwiched between Belgium (26th) and Denmark (28th). For the 11th year in a row, Estonia ranked 1st on the Index
Additionally, a 300 million euro Guarantee Fund will be created with the European Investment Bank, leading to 1.5 billion euros in leverage
For 2024, the growth rate of the Greek economy is now expected to reach 2.14%, up from the previous estimate of 2.09%
