The Economist rated Greece as the top-performing economy in 2023. Euronews Business breaks down the study and considers how the rest of Europe performed last year.
Greece led The Economist’s annual ranking of rich-world economies in 2023.
The study gathers data on five indicators: “core” inflation – which excludes volatile components such as energy and food; GDP; employment, and stock market performance for 35 global mostly rich countries.
For the second year in a row, Greece has achieved remarkable results. With a GDP growth rate at 1.2%, Greece stands out among other countries for its sharp growth in the real value of the stock market, which rose by 43.8% from 2022 to 2023.
According to The Economist, investors have re-evaluated Greek companies due to the government’s implementation of a set of pro-market reforms.
Greece expects to receive more than €55 bn from EU structural and recovery funds by 2027, which economists estimate will contribute one percentage point in growth annually. Investment is seen growing by about 15.1% in 2024 more than double compared with last year.