Greece reported a record primary surplus of €8.6 billion in 2024, significantly surpassing the target of €4.6 billion. Economy Minister Kostis Hatzidakis attributed the success to increased revenues from reduced tax evasion and stronger-than-expected growth. Looking ahead to 2025, the government plans further tax cuts for the middle class and a focus on microeconomic policies to boost investments, exports, and economic competitiveness.
Tag: fiscal surplus
Greece has emerged as a global economic leader, joining Spain and Italy among the top five performers in 2024, according to The Economist. This marks the Mediterranean region's continued ascent in economic prominence, with Greece's GDP growth, share prices, and reduced unemployment contributing to its high ranking.
The European Bank for Reconstruction and Development (EBRD) forecasts Greece's economy to grow by 2.4% in 2024 and 2.6% in 2025, driven by strong tourism, private consumption, and investment. Greece's unemployment rate hit a 15-year low, and the country continues to maintain a fiscal surplus. While inflation has eased, core inflation remains high. The outlook remains positive as tourism is set to surpass last year's record performance.