IOBE sees growth at 2.4% in 2024
Greece will see an annual growth of around 2.4% in real terms in 2024 and an unemployment rate of around 10.5%, according to the assessment of the Foundation for Economic & Industrial Research (IOBE) and its quarterly report (4/2023) presented in an online press conference on Thursday.
IOBE said that the growth rate would be pushed by stronger investments and consumption of households, which would remain resilient despite inflationary pressure.
The rate of change in the general consumer price index was set at 3.5% in 2023, from 9.6% a year earlier. The strengthening of prices is mainly due to the positive impact of domestic demand.
IOBE estimates that prices will maintain a milder upward trajectory over the full year, in the region of 2.8%, mainly due to the resilience of consumer demand.
During the presentation of the IOBE Report on the Greek economy, IOBE’s director general, Professor Nikos Vettas, stressed that the domestic economy is on a steady footing, amid mixed external influences, but chronic domestic challenges and imbalances must be addressed for a production model shift.
