Stournaras: Growth on average annual close to 3% over the next decade


“In times of extreme uncertainty, the Greek economy, after the second quarter of the year, escaped the stagnation and restrictive form that it had in 2020, gaining favorable prospects for the future,” said the Speaker of the Hellenic Parliament, Konstantinos Tassoulas, receiving its Interim Report Bank of Greece for the Monetary Policy of 2021 by its commander, Giannis Stournara. According to a relevant announcement of the Parliament, the governor of the Bank of Greece stated characteristically: “I bring good news. Of course, the environment is very uncertain, but if we weigh the pros and cons, there are more opportunities than risks for the Greek economy today, as long as we respond positively. “

Receiving the Report, the Speaker of the Parliament pointed out that “the prospects of the Greek economy are obviously favorable in the medium and long term, as long as this health crisis, which affects both lives and health, as well as the economy, is left behind for some time.” Mr. Tassoulas referred to the very good growth rates of the economy, noting, however, that “the depressing shadow of the pandemic, with its new variant, Omicron, the great unknown, despite the first data we have, is a strong element of uncertainty that must to make us extremely careful. ” He also expressed the wish “all together in 2022 to overcome this problem of uncertainty and to allow the economy, unhindered by the economic demon, to gallop and bring what we all expect, prosperity and prosperity.”

On his part, Mr. Stournaras pointed out that “fortunately Greece, in this difficult environment, did very well in 2021 and the prospects are very good for the coming years.” He added that “in 2021 we will have a rate of economic growth of 8%, possibly more, but even more important is that next year we forecast a rate of about 5% and over time about 4%. So, we are able to achieve an average annual growth rate of around 3% in the next decade “.

It is noted that Mr. Stournaras placed the Exhibition together with the relevant removable memory (stick) in an envelope of “pre-modern era”, as he characteristically said, from the first term of Xenophon Zolotas, wanting to connect with this move, as he said, “The old with the new”.

In the introductory letter of the Governor of the Bank of Greece to the Speaker of Parliament, it is noted that “the Greek and world economy is recovering dynamically after the lifting of restrictions and the resumption of economic activity.” However, it is pointed out that “the possibility of a new outbreak of the pandemic from the Omicron mutation of the coronavirus and the existence of obstacles in the supply chains, increase uncertainty and create risks for the course of inflation and the recovery of the world economy.”

As stated, “despite the deterioration of epidemiological data in recent months, rising energy costs, raw material prices and inflationary pressures in general, the long-term outlook for the Greek economy remains very positive, aided by the start of investment projects and the implementation of the reforms associated with the National Plan for Recovery and Sustainability “.  

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