National Economy & Finance Ministry sources: Greek economy remains steadily rising rate of growth, convergence with EU average

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Today’s announcement by the Hellenic Statistical Authority (HSA) confirms the fact the Greek economy remains at a steadily rising rate of growth, National Economy & Finance Ministry sources said on Friday.

The sources said that the rate of growth, led by investments, continues the trajectory of the Greek economy’s convergence with the European average, the sources added, commenting on preliminary first-quarter data of the GDP by the HSA, and the related announcement by Eurostat on GDP in eurozone and EU countries.

HSA had said earlier in the day that Greece’s GDP rose 2.1% in the first quarter of 2024 compared to the corresponding quarter of 2023 and reached 56.637 billion euros at current prices, according to provisional data. According to the HSA, GDP increased by 0.7% in comparison with the fourth quarter of 2023.

The changes compared to the fourth quarter of 2023 were attributed to the following:

*Total final consumption expenditure increased by 0.2% (household consumption increased by 0.2% and that of the General Government decreased by 2.7%).

*Private investment (gross fixed capital investment) increased by 7.1%.

*Exports of goods and services showed a decrease of 2.4%. Exports of goods fell 2.7%, while exports of services rose 0.5%.

*Imports of goods and services dropped 0.6%. Imports of goods fell 1.7%, while imports of services rose 2.1%.

Source: ANA-MPA

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