Greece ranks among this year’s economic winners

Greece is among the economic winners of 2022, with the best overall performance among 34 relatively wealthy countries, according to an analysis by The Economist based on five key indicators.

The countries were ranked on the basis of GDP, inflation, inflation breadth (the number of products that increased by more than 2%), stock market performance and government debt.

Other countries of the European South, such as Portugal and Spain, were also strong performers, while Germany ranked low in 30th place, and Estonia and Latvia were ranked last.

Greece’s GDP increased 2.2% between the fourth quarter of 2021 and the third quarter of 2022, while that of Italy was up 1.8%, Spain’s grew 1.5% and Germany’s 1.3%.

In Estonia, GDP shrank 3.1% over the same period.

Consumer prices increased 7.8% in Greece in the first 10 months of 2022 and 82.4% of products increased by more than 2%.

Greece was one of the few countries where stock market prices rose (0.8%) over the first 11 months of 2022, with stock markets nosediving as much as 15% worldwide.

Greece was also a champion in the reduction of net government debt, which fell by 16% as a percentage of GDP, while in other countries it increased or fell by much smaller amounts.