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Yannis Stournaras: The Greek economy - investment gap and the financing of investment needs

Yannis Stournaras: The Greek economy - investment gap and the financing of investment needs
Opening remarks by Mr Yannis Stournaras, Governor of the Bank of Greece, at the presentation of the EIB Investment Survey Results 2023 for Greece titled: "The Greek economy: investment gap and the financing of investment needs", Athens, 30 May 2024.

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Yannis Stournaras, Governor of the Bank of Greece, recently presented the results of the 2023 EIB investment survey for the Greek economy. The Greek economy grew by 1.2% in the fourth quarter of 2023, but this was a slowdown from the previous quarter. Despite this, the Greek economy has grown faster than the euro area average since 2021. Investment spending is crucial for the future of the economy, but Greece has faced an investment gap compared to the EU. The timely absorption and disbursement of RRF resources is crucial for the achievement of projected growth rates. Ambitious reforms are needed to close the investment gap and accelerate the growth rate of the Greek economy. The availability of bank credit and other forms of private investment financing should be considered to meet business investment needs. Continuous efforts are needed to accelerate the growth rate in the coming years.

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