ATHENS – Greece’s economy grew by 2.8 percent in the third quarter (Q3) of 2022 compared with the same period in 2021, the Hellenic Statistical Authority (ELSTAT) said on Wednesday.
On a quarterly basis, the country’s gross domestic product (GDP) fell by 0.5 percent in Q3.
ELSTAT said that the Q3 GDP result was “adversely affected by the significantly increased level of subsidies on energy-related products.”
Greece’s GDP growth was still higher than the European Union (EU) average, Finance Minister Christos Staikouras commented in a press statement.
According to a recently revised estimate in the country’s final 2023 draft budget, annual GDP growth will be 5.6 percent this year and 1.8 percent in 2023.