Greek GDP expected to grow by 2.3 pct in 2025: budget

ATHENS, Nov. 20 (Xinhua) -- The Greek gross domestic product (GPD) is expected to grow by 2.3 percent in 2025, according to the draft budget submitted to the parliament on Wednesday.

The budget presented by Minister for National Economy and Finance Kostis Hatzidakis also projected a 2.2 percent GDP increase for 2024.

"The Greek economy is proving to be resilient in an unfavorable and uncertain international environment," the budget noted.

In addition, the government debt-to-GDP ratio is expected to decline, dropping to 147.5 percent in 2025 from 154 percent in 2024.

"It reflects that, in Greece, fiscal prudence and growth are harmoniously combined," the Ministry of National Economy and Finance said in a statement.

In addition, key economic indicators also point to a positive trajectory

Inflation, which reached 3.5 percent in 2023, is projected to drop to 2.7 percent in 2024 and further down to 2.1 percent in 2025. Similarly, the unemployment rate is foreseen to drop to 9.7 percent in 2025 from 11.1 percent in 2023 and 10.3 percent in 2024.

Private investments have grown steadily, accounting for 6.6 percent of the total investments in 2023. The figure is expected to climb to 6.7 percent and 8.4 percent respectively in 2024 and 2025.