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Country Forecast Greece Updater Product Image

Country Forecast Greece Updater

  • Published: July 2014
  • Region: Greece
  • 17 Pages
  • The Economist Intelligence Unit

The Economist Intelligence Unit expects the fragile two-party coalition of the centre-right New Democracy (ND) and the centre-left Panhellenic Socialist Movement (Pasok) to fall, probably in 2015, leading to a new election. The left-wing Syriza Unifying Force (Syriza) could narrowly beat ND in a snap election, but would struggle to form a coalition.

Despite Greece's re-entry into financial markets from 2014, the public debt/GDP ratio will remain high, at just below 180% of GDP in 2014. A restructuring deal involving extending maturities will provide temporary relief, but a debt write-off by official creditors may be needed in the longer term.

Although the outlook has improved slightly, with a return to growth forecast for 2014, there remains a risk that political instability and social unrest, borne of economic hardship, high unemployment and anti-austerity sentiment among voters, could trigger a disorderly debt default and an exit from the euro area.

Country Forecast Greece Updater

Country forecast overview: Highlights

Country forecast overview: Key indicators

Country forecast overview: Business environment rankings

Country forecast overview: Greece's business environment at a glance
Policy towards private enterprise and competition
Policy towards foreign investment
Foreign trade and exchange controls
The labour market

Fact sheet

Outlook for 2014-18: Political stability

Outlook for 2014-18: Election watch

Outlook for 2014-18: International relations

Outlook for 2014-18: Policy trends

Outlook for 2014-18: Fiscal policy

Outlook for 2014-18: Monetary policy

Outlook for 2014-18: Economic growth

Outlook for 2014-18: Inflation

Outlook for 2014-18: Exchange rates

Outlook for 2014-18: External sector

Data summary: Global outlook

Data summary: Gross domestic product, current market prices

Data summary: Gross domestic product, at constant prices

Data summary: Gross domestic product by sector of origin

Data summary: Growth and productivity

Data summary: Economic structure, income and market size

Data summary: Fiscal indicators

Data summary: Monetary indicators

Data summary: Employment, wages and prices

Data summary: Current account and terms of trade

Data summary: Foreign direct investment

Data sources and definitions
Global data
Domestic data

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