By Tasos Dasopoulos
In a significant upward revision of growth, which is expected to reach 4% this year, as well as annual inflation, which is expected to reach 8.9%, the Commission proceeded with its estimates for Greece, in the context of the summer forecasts it published a little while ago time.
Two months earlier, in mid-May, in its spring estimates, the European Commission predicted a growth rate of 3.5% and inflation of 6.3% for Greece this year. Due to the significant revision to the 2022 figures the growth rate for 2023 has been revised to 2.1% from 3.1% forecast in the spring estimates.
More important perhaps is the revision of the annual inflation forecast for next year which is expected to reach 3.5% from 1.9% forecast in the spring estimates. This is an indication that high fuel and food prices will continue to weigh on households and businesses throughout the coming year.
As far as the EU is concerned, despite the information leaked in the last few days, the Commission proceeded with a marginal revision of growth for the Eurozone to 2.6% from 2.7% predicted in May while for the EU as a whole the forecast for 2.7% remained unchanged.
In the size of inflation, there is a revision for the Eurozone to 7.6% from 6.8% predicted in May while for the EU to 8.3% from 8.4% predicted in May.
Source: Capital
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