Between June 2012 and June 2014, Greece attracted a total of 37.6 billion euros in investments, finds a new study published by the Centre of Planning and Economic Research (KEPE).
The study, which remains ongoing, was recently discussed by KEPE’s president, Nikolaos Filippas, in an interview with the Greek daily Eleftheros Typos.
Filippas noted that the 37.6 billion figure doesn’t even accurately reflect the amount that has been invested into Greek markets in the last two years. “We have many examples, like those of (former) Hellenikon (airport) and Oxia (island) properties, which have been postponed due to court proceedings,” he said.
“Concerning privatizations, there were definitely significant delays while the interest was limited, mainly because of the increased risk and low credit rating of the country.”
Regarding the growth rate of the economy, Filippas says that KEPE’s estimates are similar to those presented in the government’s draft budget for 2015 – 2.9 percent.
For the first two quarters of 2015, KEPE anticipates growth rates of 1.85 percent and 2.07 percent, respectively.
The GDP growth rate will have substantial psychological effects on markets and on Greek society generally; people will come to believe that their sacrifices were not in vain, says Filippas.
The KEPE president also praised Greece’s successful return to international markets in 2014 and its “twin” surpluses – the country’s first since 1948.
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