Germany takes the spotlight at the Thessaloniki International Fair
Germany is the “honored country” at this year’s Thessaloniki International Fair, highlighting the improved economic relations between Greece and Germany. Previously, Greece faced a severe debt crisis, but now the tables have turned, with Greece posting strong growth and expecting a 2% GDP increase this year. Despite this progress, challenges remain with a debt-to-GDP ratio forecasted at nearly 159% for 2024.
Greek Finance Minister aims to reduce this ratio to below 120% by 2027, emphasizing the importance of maintaining a primary budget surplus. Important reforms and privatization have been key factors in Greece’s economic recovery, attracting foreign investment such as the modernization of regional airports by Fraport Greece.
Although criticisms of “selling out” public assets to foreign investors persist, German investments have benefited both countries. As Greece seeks sustainable growth and prosperity, further investments, particularly in energy and transport sectors, are crucial. German investors play a significant role in Greece’s economic landscape, making Germany Greece’s most important economic partner.