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The Tsipras government is optimistic that the country’s GDP will exceed 200 billion euros based on the forecasts of the Medium-Term Fiscal Strategy (MTFS) 2020-2023 that is to be tabled in parliament in the coming months.

Alternate Finance Minister George Chouliarakis has requested all the government agencies involved (ministries, decentralised administration, supervised bodies etc) to provide specifics concerning the basic scenario of the new MTFS, which is based on the following forecasts:

– GDP rising to 200.467 billion euros in 2020, from 195.924 billion euros in 2019, with a GDP growth rate of 2.5 % in 2019, 2.3 % in 2020, 2.1 % in 2021 and 1.8 % in 2022-23.

– Unemployment will continue to decline, falling to 16.6 % in 2020 from 18.2 in 2019, and then 15.4 % in 2021, 14.3 % in 2022 and 13.2 % in 2023.

– Budget spending will increase to 58.113 billion euros in 2020 from 56.930 billion euros in 2019 and then remain roughly level, ranging between 58.5 and 58.8 billion euros until 2023.

– Inflation will increase, with the harmonised index rising to 1.3 % in 2020 from 1.2 % in 2019, and then to 1.5 % in 2021 and 1.7 % in 2022-2023.


GCT Team

This article was researched and written by a GCT team member.

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