For the first time since 2014, the economic climate index in Greece surpassed that of the Eurozone average, as recorded in official Commission data in July 2019.
Following the victory by the conservative party, New Democracy (ND) in the July 7 national elections, expectations for the recovery of the Greek economy recorded a notable rise.
According to the European Climate Index published every month based on official European Commission data, in July 2019 Greece significantly exceeded the average of the corresponding euro area countries index, a feat achieved for the first time in 5 years.
Greece’s economic climate index climbed to 105.3% in July from 101% in June, as expectations for improved economic performance in trade, industry, services, and manufacturing grew substantially after the political change.
The positive shift in the economic climate index confirms that Greece is on the path of returning to normalcy after the SYRIZA government, and is projected to have a positive impact on drawing foreign investments in the country, provided the new government implements the reforms and program it announced.