The Parliamentary Budget Office (PBO) reported a significant increase in the manufacturing industry’s contribution to Greece’s GDP, reaching 10.4% in the second quarter of the year, up from 8.6% in 2009. This growth is attributed to investments and increased productivity in the sector.
The report emphasized the sector’s strong export nature, significant investments from the Recovery Fund, and expenditures on research and development, resulting in higher labor productivity and average wages in manufacturing exceeding the national average.
The PBO predicts a 2.3% growth rate for the Greek economy in 2024, slightly higher than the government’s forecast but lower than previous estimates. The report underscores the need to strengthen the manufacturing sector to diversify the economy and ensure long-term growth.
The forecast indicates restrained growth after 2026, prompting calls for consideration of investment maturity and productivity to achieve sustained economic development.