## Greece: 2026 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Greece

_IMF Staff Country Reports, May 27, 2026_

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## Bibliographic details
- Published: May 27, 2026
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229047340.002

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### Macroeconomic overview and outlook
- The energy price shock from the war in the Middle East is described as a "considerable headwind."
- Strong investment and ongoing reforms in the context of the Next Generation EU (NGEU) are supporting growth.
- Public sector balance sheets continue to improve, with the public debt-to-GDP ratio "declining rapidly," creating some policy space to meet external challenges.
- Private sector balance sheet repair is incomplete.
- Structural impediments that weigh on medium-term growth and external balances:
  - low overall investment
  - sluggish productivity growth
  - unfavorable demographics

### Financial sector and stability
- The report is categorized under "Financial sector policy and analysis" and "Financial sector stability."
- Private sector balance sheet repair remains incomplete, implying residual vulnerabilities despite improving public sector positions.

### Growth drivers and risks
- Supporting factors:
  - strong investment
  - ongoing reforms under NGEU
- Downside risks:
  - energy price shock linked to the war in the Middle East
  - structural constraints (investment, productivity, demographics)
- The combination of improving public finances and persistent private-sector and structural weaknesses frames the medium-term growth and external balance outlook.

### Policy implications and priorities
- Leverage the policy space created by rapidly declining public debt-to-GDP ratio to address external challenges.
- Continue implementing reforms linked to NGEU to support investment and growth.
- Prioritize measures to:
  - accelerate private sector balance sheet repair
  - raise overall investment
  - boost productivity
  - address unfavorable demographic trends

*Source: Greece: 2026 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Greece, May 27, 2026 (IMF Staff Country Reports 2026, No. 108).*

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_Source: https://www.imf.org/en/publications/cr/issues/2026/05/26/greece-2026-article-iv-consultation-press-release-staff-report-and-statement-by-the-576344_