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Finance Ministry: Greece a champion in real GDP per capita growth in Europe

Greece is a champion in the increase of real GDP per capita growth in Europe, the National Economy & Finance Ministry's press office said on Wednesday, in response to the European Commission data released for 2023 and criticism by main opposition SYRIZA.

The ministry responded to data released as to real GDP per capita and GDP per capita in PPS (purchasing power parity).
Overall, the ministry said, for the 2019-2023 period the real GDP per capita in PPS in Greece rose at over twice the rate of the European average (2.1% against 1%), and the difference is even greater in the period following the coronavirus pandemic (2021-2023), or 5.9% average growth in Greece against 3.1% in European Union.

In terms of total (cumulative) growth, during 2019-2023 the real Greek GDP per capital grew by 9.9%, over double the rate of the EU average (4.8%). In terms of the last three years (2021-2023) that followed the outbreak of the pandemic in 2020, the cumulative growth of the real per capita income in Greece stood at the impressive 18.6% (the third highest outcome in EU), a rate that again is over double that of the European average (9.4%), the ministry's press office pointed out.

The difference in positive performance of Greece during the last five years, the ministry noted, is at absolute contrast with Greece's extremely negative performance during the rule of SYRIZA. Specifically, during 2015-2018, Greece was next to last in the growth of the real per capita income in EU (27), with an average growth of 0.9% against the more than double rate of the European average (1.9%).

"Despite the great, successive externally generated crises, (ruling) New Democracy implements an effective economic policy such as the one reflected in the rise in employment by nearly 367,000 new job openings from June 2019 to December 2023, and in the real increase of wages in the economy's private sector the last four years by 6.1%, in tandem with a drop in social security withholding, income tax, and tax on assets," the ministry's press office underlined.