Showed remarkable resilience industry in 2022, she claims Alfa Bank in the Weekly Economic Development Bulletin, adding, however, that this year it still faces a number of challenges. According to bank analysts (Chief Economist Panagiotis Kapopoulos), despite the unfavorable international environment, formed due to high energy and raw materials costs, supply chain disruptions and geopolitical uncertainty, the industry continued to move on an upward trajectory. This is set according to the following criteria:

• The overall index of industrial production, which expresses output (value added of inputs at constant prices), increased by 2.3% in 2022 (2021: 10.1%).

• The overall industry turnover index, which aims to measure industry activity in value terms (sales of goods and services), increased by 33.1% (2021: 25.6%).

• The number of people employed in manufacturing exceeded half a million people in the third quarter of 2022 for the first time since the end of 2010, up 5% year on year.

• Industrial exports increased by 14.1 billion euros in 2022 (or 39.7%), representing 96% of the increase in our country’s total exports, which was formed at a historically high level.

Fiscal support and prudent wage cost adjustments contributed to these positive results, according to the newsletter. It is noted that uncertainty remains for 2023 due to geopolitical events, while the cost of energy is still at a relatively high level. Therefore, it is noted that the preservation in each country of fiscal support for industrial enterprises is still an important factor in overcoming the consequences of the energy crisis and ensuring their competitiveness in the international environment. In addition, in 2023, the growth rates of the Greek and European economies are expected to slow down. The bulletin also mentions the US Inflation Reduction Act (IRA), which provides for measures in the EU, with a relaxation of the rules of state aid and, possibly, funding. To this end, the Green Deal industrial plan was presented in early February.