Alpha Bank weekly bulletin: Significantly improved Greek econ prospects paint favorable post-pandemic forecast

Increasing the level of economic freedom and freedom of fiscal policy exercise in the coming years

Greece’s significantly improved growth prospects in the post-pandemic landscape favorable affect the country’s public finances, increasing the level of economic freedom and freedom of fiscal policy exercise in the coming years, Alpha Bank’s weekly economic bulletin states this week.

According to the economic bulletin by the Athens-based and listed systemic bank, recent forecasts by the EU Commission and the country’s finance ministry, amid the coming vote on the 2022 budget, point to a possible “V-shaped” recovery, and with recession only affecting 2020 (-0.9 percent).

The bulletin forecasts a strong recovery, beginning with the ongoing year. The latter characteristic differentiates the pandemic-afflicted crisis from a previous Greek debt crisis, when GDP growth rates remained in negative territory for five years and were followed by zero to low growth.

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