Greek economy grew again after crashing in summer


Greek economy grew again after crashing in summer

But the economy is still well below pre-crisis levels

After the massive economic slump caused by the corona in the spring of summer, the Greek economy regained its footing. The gross domestic product (GDP) rose in the third quarter by 2.3 percent, as the statistics office Elstat announced on Friday. This means that the country is back on course for growth, but the drop in GDP of 14.1 percent in the second quarter has thrown the economy of the Aegean country far back.

Even the growth in summer cannot hide the fact that the economy is well below the level it was before the corona crisis. GDP in the third quarter was 11.7 percent lower than in the same period last year.

The country had come through the pandemic better than many other countries in Europe, having taken strict lockdown measures just weeks after the virus broke out on the continent in February. However, these had a powerful economic impact. The country is currently in lockdown again in view of the high number of cases, which should mean another setback for the economy.

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