National Economy and Finance Minister Kyriakos PIerrakakis [InTime News].
The Greek economy grew at a rate of 1.7% in the second quarter, on an annual basis, compared to a growth of 2.2% in the first quarter of the year, according to the figures the Hellenic Statistical Authority (ELSTAT) released on Friday.
That means the average growth rate of the year’s first half barely reached 2% on annual basis, although the government speaks of a 2.3% growth rate in the current period.
ELSTAT data also show growth of 0.6% on a quarterly basis in the April-June period.
According to the statistical service, consumption is slowing down, showing an increase of just 1% on an annual basis and a decrease of 0.1% compared to the previous quarter. However, investments are showing high rates, with an increase of 6.5% on an annual basis and 7.4% compared to the previous quarter.
Exports of goods are on a downward trajectory, although exports of services continue to rise, due to tourism. Exports increased by 1.9% compared to the second quarter of 2024: Exports of goods decreased by 1.1%, while exports of services increased by 3.9%.
Addressing an Economist event in Thessaloniki on Friday, National Economy and Finance Minister Kyriakos PIerrakakis stated that the Greek economy is currently growing at an annual rate of 2.3% that is far above most other European economies.
“Of course we can do better, we will make more reforms. The world wants more from us,” and reforms “are the only way to move forward,” the minister said.