Would you say that Greece's economy will keep improving for the next 8 years? I am not expecting to sustain these high rates but a relatively steady economic growth.
I think it will continue growing albeit at a smaller rate. Key macro indicators are currently positive and improving. If we continue on a path of sustained reforms and pro-business policies, I think the next 4 years will be net positive. I am not sure about 8-10 years ahead, though. That’s too far away to make any cogent predictions. :)
This article must have been written by an official of the current government. Absolutely inaccurate article ! Just ask the average citizens and you will get the most accurate information on the poverty level that gets worse by days .Also , watch Naftemporiki .gr to get a better understanding of why Greece is still a bankrupt country! ( High Debts, High Inflation, High Interest, RED MORTGAGES, High cost of Energy, Low Wages, Lack ofJobs , Uncontrolled Real Estate Invastments , Massive Closures of Small Businesses , and Massive exodus of educated workers ... etc.)
Does the recent expansion in the current account deficit concern you? I know some of this is oil related but does seem to be at an unsustainable level and suggest a lack of competitiveness still
Yes, it is certainly concerning, although I am more concerned with the trade balance. Thankfully, we are seeing improvement there as well in terms of exports. Trade openness is also increasing (see #9 reason here: https://greekanalyst.substack.com/p/10-reasons-to-be-optimistic-about-greece) which is good and labour productivity is low but shows signs of picking up, even if slightly (https://twitter.com/GreekAnalyst/status/1650387467923595266). A lot more needs to be done, but we have seen progress that I hope continues irrespective of electoral result after Sunday.
Well done for a thorough analysis and overview. I think regarding FDI there are questions as to where is really the money going . It seems it is mainly in real estate and hotel development but not enough in productive sectors . Also the debt to GDP ratio is slightly misperceived as inflation favors liabilities even if there is no real growth . Overall a positive trend in Greece but as you rightly say a lot to be done .
Would you say that Greece's economy will keep improving for the next 8 years? I am not expecting to sustain these high rates but a relatively steady economic growth.
I think it will continue growing albeit at a smaller rate. Key macro indicators are currently positive and improving. If we continue on a path of sustained reforms and pro-business policies, I think the next 4 years will be net positive. I am not sure about 8-10 years ahead, though. That’s too far away to make any cogent predictions. :)
This article must have been written by an official of the current government. Absolutely inaccurate article ! Just ask the average citizens and you will get the most accurate information on the poverty level that gets worse by days .Also , watch Naftemporiki .gr to get a better understanding of why Greece is still a bankrupt country! ( High Debts, High Inflation, High Interest, RED MORTGAGES, High cost of Energy, Low Wages, Lack ofJobs , Uncontrolled Real Estate Invastments , Massive Closures of Small Businesses , and Massive exodus of educated workers ... etc.)
Does the recent expansion in the current account deficit concern you? I know some of this is oil related but does seem to be at an unsustainable level and suggest a lack of competitiveness still
Yes, it is certainly concerning, although I am more concerned with the trade balance. Thankfully, we are seeing improvement there as well in terms of exports. Trade openness is also increasing (see #9 reason here: https://greekanalyst.substack.com/p/10-reasons-to-be-optimistic-about-greece) which is good and labour productivity is low but shows signs of picking up, even if slightly (https://twitter.com/GreekAnalyst/status/1650387467923595266). A lot more needs to be done, but we have seen progress that I hope continues irrespective of electoral result after Sunday.
Well done for a thorough analysis and overview. I think regarding FDI there are questions as to where is really the money going . It seems it is mainly in real estate and hotel development but not enough in productive sectors . Also the debt to GDP ratio is slightly misperceived as inflation favors liabilities even if there is no real growth . Overall a positive trend in Greece but as you rightly say a lot to be done .