December 7, 2022

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Commission: Shocking forecast for inflation of 10% this year and 6% in 2023

launch it inflation to 10% for Greece in 2022 commissionAccording to the winter forecast that was announced some time ago. At the same time, he “sees” that it will remain at a high level of 6% for 2023, which is cause for concern. At the same time, he estimates that Greek growth will reach 6% this year, falling only to 1%.

It is noteworthy that the growth is higher than the average of the euro area and the European Union.

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Specifically, for Greece, the Commission expects growth of 6% in 2022, 1% in 2023, and 2% in 2024.

For the eurozone, the Commission expects growth of 3.2% in 2022, 0.3% in 2023 and 1.5% in 2024, compared to growth in the European Union of 3.3% in 2022, 0.3% in 2023 and 1.6% in 2024.

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It should be noted that the Commission’s forecast for Greek economic growth has been revised upwards for 2022 compared to July (4% was the forecast for 2022) and downwardly revised for 2023 compared to July (the forecast for 2023 was 2.4%).

Regarding inflation, the Commission expects inflation in Greece to reach 10% in 2022 and decrease to 6% in 2023 and to 2.4% in 2024. For the Eurozone, the Commission expects inflation to be 8.5% in 2022, to 6.1 % in 2023 and to 2.6% in 2024. In the European Union, inflation is expected to reach 9.3% in 2022 and drop to 7% in 2023 and 3% in 2024.

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Greece’s fiscal deficit is expected to reach (-4.1%) in 2022 and decrease to (-1.8%) in 2023 and (-0.8%) in 2024. For the Eurozone, the Commission expects the budget deficit to reach to a higher level. Average (-3.5%) in 2022, (-3.7%) in 2023 and (-3.3%) in 2024. For the EU, the Commission expects a budget deficit of up to (-3.4%) in 2022, to (-3.6%) in 2023 and to (-3.2%) in 2024.

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Greece has the highest public debt in the European Union.According to the Commission, public debt is expected to reach 171.1% of GDP in 2022 and fall to 161.9% in 2023 and 156.9% in 2024. For the eurozone, the Commission expects Financial debt will reach 93.6% of GDP in 2022, 92.3% in 2023 and 91.4% in 2024.

In the European Union, fiscal debt is expected to reach 86% in 2022, 84.9% in 2023, and 84.1% in 2024.

Unemployment in Greece is expected to remain stable at 12.6% in 2022 and 2023 and decrease to 12.1% in 2024. In the Eurozone, unemployment is expected to reach 6.8% in 2022 and rise to 7,2% in 2023 to decline to 7% in 2024. In the European Union, unemployment is expected to be 6.2% in 2022, 6.5% in 2023, and 6.4% in 2024.