Capital Link said that Athens has scored a remarkable economic turnaround and a significant amount of American and other private investments are coming in. “The trend is expected to accelerate given the county’s political stability, its growing economy, and its strategic geopolitical location,” it said in a statement.
In a written message, Prime Minister Kyriakos Mitsotakis stressed his government’s commitment to economic stability and structural reforms.“We have proven we can change and don’t have any doubts: We will continue on the same path of stability, consistency, and reforms, because this is the path that makes our country stronger,” he said. Despite global challenges like high inflation and the conflicts in Gaza and Ukraine, delegates said that Greece remains steadfast on its path towards tax reforms and privatizations, creating a conducive environment for foreign investment. They said Greece’s strong record in the tourism and energy sectors over the last couple of years will push the country’s economy to grow strongly going forward. The government expects the economy to grow by 2.9% next year following a 2.4% expansion this year. The country expects to get around $55 billion euros from EU structural and recovery funds over the next four years which will add one percentage point in growth annually. Investment is seen growing by about 15.1% in 2024 more than double compared with this year. Athens has forecasted a primary budget surplus next year of 2.1% of GDP and expects public debt, which is the highest in the eurozone, to fall to 152.3% of GDP in 2024 from 160.3% of GDP this year. Inflation is set to drop to 2.6% in 2024 from 4.1% this year and unemployment is seen declining to 10.6% from 11.2% “Major American companies like Pfizer, Google, Microsoft, Amazon, and Cisco have already invested in Greece. “I am confident that Greece’s message will resonate further, attracting additional investments,” national economy and finance minister Kostis Hatzidakis told the conference. The meeting was also attended by global investors as well as executives from Greek banks and companies. The U.S. government was represented by Geoffrey Pyat the under secretary of state for energy resources and Joshua Huck, the deputy assistant secretary for European affairs