Greece ranks 2nd in R&D budget allocations in Europe

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Greece comes second in the European Union regarding Government Budget Allocations for Research & Development (GBARD), according to Eurostat figures reported by the Development Ministry on Monday.

Between 2012 and 2022, noted the European Union's statistical office, all EU governments increased their budget allocations for R&D in terms of euros per person.

During that time, the most significant percentage increases were recorded in Latvia (+208% from 16.1 euros per person in 2012 to 49.6 euros in 2022) and Greece (+129% from 66.0 euros to 151.2 euros).

Specifically, the annual government expenditure on R&D in Greece amounted to 1 billion 581,43 million euros in 2022, compared to 1 billion 40 million euros in 2018 (an increase of 51%) and 731,94 million euros in 2012 (an increase of 116%).

Welcoming these figures, Greek Development Minister Kostas Skrekas said they "confirm the leap that has been achieved in research and development during the first term of Kyriakos Mitsotakis' government."

Investing in R&D, he added, is synonymous "to investing in a better future, with multiple benefits to the country's economy overall."

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