Energy crisis will hurt Greek economic growth this year -fin min
ATHENS (Reuters) – Increased vitality costs can have a adverse affect on Greece’s financial progress this 12 months, the nation’s Finance Minister mentioned on Wednesday, including that he plans to submit a supplementary finances for 2022 to incorporate additional spending.
He didn’t present particulars or a brand new projection however mentioned there’ll nonetheless be important progress this 12 months. Greece’s 2022 finances tasks financial progress of 4.5%.
“There shall be a adverse affect in progress in contrast with the 4.5% (projection) and in addition a major rise in inflation,” Christos Staikouras, instructed an financial discussion board in Athens.
He mentioned projections could be made public within the coming weeks when the ministry will ship its new estimates to Brussels.
The supplementary finances will embody 2 billion euros of additional spending to assist households going through increased vitality prices, if wanted, the minister mentioned.
This 12 months’s finances tasks a deficit of 1.2% of gross home product (GDP) and inflation of 0.8%. Greece’s annual shopper inflation surged to 7.2% in February, a 25-year excessive. [nL5N2VD36U]
(Reporting by lefteris Papadimas, modifying by George Georgiopoulos, Alexandra Hudson)
