The IMF presents improved forecasts for Greece in its spring economic forecasts, setting growth at 2.6% compared to 1.8% in its autumn estimates. At the same time, the forecast for growth in the Eurozone is at the level of 0.8%. However, in its report, the IMF also “raises” the inflation estimate to 4% from 3.2% in October last year. It should be noted that the Ministry of Finance predicts growth this year at 2.3% and average annual inflation at 4.5%.

At the same time, for 2024, the IMF predicts that growth in Greece will decline to 1.5% from 1.4% earlier, while inflation predicts a slowdown to 2.5% from 4% this year. According to the Fund, unemployment is expected to fall to 11.2% this year from 12.2% last year, while it predicts it will remain just above 10% (specifically at 10.2% ) and in 2024.

However, the current account deficit continues to widen, which the IMF estimates at 8% of GDP in 2023 (from 9.7% of GDP last year) and at 6% of GDP in 2024.

In terms of debt, the IMF predicts that from 177.4% of GDP in 2022, it will decline to 166% of GDP this year and reach 160.5% of GDP in 2024, and reach 143.6% of GDP by 2028. The Fund stresses that Greece is a pleasant surprise in terms of reducing its debt, which has fallen from 200.7% of GDP in 2021 to 177.4% in 2022.

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