The European Commission "sees" Greece's economic growth at 2.4% in 2023 and 2.2% until 2025, above the eurozone and EU average, in its autumn economic forecasts released on Wednesday, pointing out that this growth is supported by the implementation of the Recovery and Resilience Plan and a resilient labour market.
Overall, the Commission noted that Greece's core inflation is estimated at 4.3% in 2023 and around 2.1% by 2025, as tighter labour market conditions add upward pressure on prices.
The general government deficit is expected to shrink further due to moderate spending growth and higher revenues. The lower fiscal deficit, together with steady nominal GDP growth, will support the reduction of the high public debt-to-GDP ratio, the Commission said.
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