IMF Staff Country Reports

Greece: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Greece

Publication Date:

June 21, 2022

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Greece has weathered the pandemic well, with a considerably stronger-than-expected recovery. Reforms progressed in several areas, including digitalization, privatization, improving the fiscal policy mix, and bank balance sheet repair. Greece finalized its early repayment to the IMF on April 4 and is expected to graduate from the quarterly European Institutions’ Enhanced Surveillance framework on schedule by August 2022. Despite the adverse impact of the war in Ukraine, growth is projected to remain robust at 3.5 percent this year. High energy prices are expected to push up average inflation to 6.1 percent. Public debt is on a downward trajectory and rollover risks appear manageable. The external position last year was moderately weaker than that consistent with fundamentals and desirable policies.

Series:

Country Report No. 2022/173

Subject:

Financial institutions Fiscal policy International organization Loans Monetary policy Nonperforming loans Public debt Revenue administration Tax administration core functions

Frequency:

regular