FT: Greece one of the seven economic wonders of an anxious world

The country is recovering and has received a particularly big boost from foreign investment and tourism, writes the president of Rochefeller International

526654FB 47A8 46EB A25E 20E4E77F10DF

The seven countries that stand out globally for their economic achievements, in a period of absolute pessimism, due to recession and inflation, is referred to in an article in the Financial Times by Rushir Sharma, President of Rochefeller International.

Greece is not missing from the list of countries characterized as "economic miracles", while the list is completed by Vietnam, Indonesia, India, Portugal, Saudi Arabia and Japan. As the Financial Times columnist points out, the countries included in the list of modern economic miracles are characterized by relatively strong growth, moderate levels of inflation and high yields – contrary to the global trend.

Referring to Greece, Rushir Sharma emphasizes that the country is recovering and has received a particularly big boost from foreign investments and tourism, which due to Covid had reached 15% of GDP, from 20%. During the financial crisis, non-performing loans had reached 50%, while now this percentage has recorded an incredible reduction and is less than 10%. The country's growth is over 4%, while inflation is falling fast, which is leading the country to a rapid economic recovery.

Rushir Sharma notes that both Greece and Portugal – also on his list of economic miracles – are on the mend, having reduced their deficits, while being less exposed to Russia-related supply chain disruptions.

The conclusion of the article is also interesting, with the author stating that despite the significant achievements, these countries could lose their momentum if there was a change in leadership, the policy being implemented or if complacency prevailed. In any case, thanks to existing conditions, Greece, Vietnam, Indonesia, India, Portugal, Saudi Arabia and Japan have emerged as winners amid a period of international concern.

SOURCE: newmoney