Greek GDP seen growing 6% in 2022

Greece’s economy will grow by nearly 6% in 2022, even with severe energy shortages toward the end of the year, driven by booming tourism and investments, Prague-based investment Wood & Company believes.

Wood takes a look at two likely outcomes based on disruptions in energy supplies; only occasional ones in the first and severe shortages in the second.

In the more optimistic scenario, Greek GDP will grow at a 6% clip in 2022 and 2.5% in 2023, with average inflation at 13% in 2022 and 7.5% in 2023. In the worst scenario, 2022 growth will remain at about 6%, but there will be a 2.6% contraction; also, inflation next year will be 9%.

In both scenarios, debt as a percentage of GDP will decline to 190% in 2022, from 198% in 2021, and 184% in 2023.

In both cases, Greece will far outperform the eurozone.