A report on the Greek economy released by the European Commission says that it has begun to boom in the first quarter of 2018. Real GDP growth in the country reached 0.8% in the said period. Growth stemmed from both exports (mainly agricultural products) and from declining imports.
For the rest of 2018, export rates are expected to be lower, although they will still move in a positive direction. Prospects also point to increases in the demand and import of goods.
The GDP is projected to reach 1.9% in 2018 and 2.3% in 2019. The key to the growth of the Greek economy will be the increase in foreign investment.
Also, according to EU figures, private investment has increased for the first time since 2016, although its contribution to growth remains low.
The labour market in Greece also continues to improve, according to the Commission. Unemployment fell to 20.1% in March 2018, while employment increased by almost 2% in the first three months of the year. This trend is expected to continue throughout the year.
Source: agrotypos.gr
