Greece already dropped its debt/gdp by 50 percentage points (!). During the pandemic it exceeded 200% (xD) . The country has its greatest chance since the early 2000s to establish its spot near the core. Post pandemic growth was around 8% in 2021, 6% in 2022, and projected around 2.5% in 2023 (Reminder that earlier this year everyone thought Germany will enter recession and that Greece would grow around 1%., now some [predict](https://www.ot.gr/2023/05/02/english-edition/ubs-surprise-explosive-4-1-growth-for-greece-in-2023/) growth as high as even 4%). The country is the worst perfomer in debt/gdp but in unemployment it managed to escape the first spot to Spain with unemployment in March being 10.9% ( The healthiest it has been since more than a decade).
Now this, this is a competition everyone should get into.
You can almost see who has an impeding election coming up. Let’s see how this looks in 2-3 years
I’m running away from my country because it’s dying.
PS: I’m italian
Smaller debt, easier to do
this is not comparable, italy is a G7 country.
pov : we have elections in 11 days
If I understand it correctly, this seems misleading. Italy debt growth wasn’t dissimilar to other countries, it’s that our GDP growth has been next to zero for quite a while. This graph represents the debt to gdp ratio. So it’s more like that Greece GDP is projected to grow at a faster rate than the Italian one. So it’s not that their debt is dropping faster, the debt/GDP ratio is.
Still, kudos to our Greek brothers. After all that shit, you deserve some peace
Do the Greeks often compare themselves to Italians with these kind of things ?
Because Greek economic growth is higher than Italy, and a larger economic size will lower debt to GDP ratio. Greece has launched a series of reform including reducing welfare in recent years, while in Italy no one dares to reduce welfare. In Milan the pensioners get monthly pension payment that higher than average net wage of graduates.
Well I guess it’s just pis now
First Spain overtook us in unemployment and now Italy will beat us in debt? Not fair.
good for them
I hope that in the future the debt of Greece will be practically absent, because such a country would really deal with problems like Turkey and Cyprus, when the debt only interferes.
16 comments
[Source](https://www.kathimerini.gr/economy/562401244/mikrotero-to-elliniko-chreos-apo-to-italiko/)
[Article in English](https://www.ekathimerini.com/economy/1210150/debt-to-drop-faster-than-italys/)
Greece already dropped its debt/gdp by 50 percentage points (!). During the pandemic it exceeded 200% (xD) . The country has its greatest chance since the early 2000s to establish its spot near the core. Post pandemic growth was around 8% in 2021, 6% in 2022, and projected around 2.5% in 2023 (Reminder that earlier this year everyone thought Germany will enter recession and that Greece would grow around 1%., now some [predict](https://www.ot.gr/2023/05/02/english-edition/ubs-surprise-explosive-4-1-growth-for-greece-in-2023/) growth as high as even 4%). The country is the worst perfomer in debt/gdp but in unemployment it managed to escape the first spot to Spain with unemployment in March being 10.9% ( The healthiest it has been since more than a decade).
Now this, this is a competition everyone should get into.
You can almost see who has an impeding election coming up. Let’s see how this looks in 2-3 years
I’m running away from my country because it’s dying.
PS: I’m italian
Smaller debt, easier to do
this is not comparable, italy is a G7 country.
pov : we have elections in 11 days
If I understand it correctly, this seems misleading. Italy debt growth wasn’t dissimilar to other countries, it’s that our GDP growth has been next to zero for quite a while. This graph represents the debt to gdp ratio. So it’s more like that Greece GDP is projected to grow at a faster rate than the Italian one. So it’s not that their debt is dropping faster, the debt/GDP ratio is.
Still, kudos to our Greek brothers. After all that shit, you deserve some peace
Do the Greeks often compare themselves to Italians with these kind of things ?
Because Greek economic growth is higher than Italy, and a larger economic size will lower debt to GDP ratio. Greece has launched a series of reform including reducing welfare in recent years, while in Italy no one dares to reduce welfare. In Milan the pensioners get monthly pension payment that higher than average net wage of graduates.
Well I guess it’s just pis now
First Spain overtook us in unemployment and now Italy will beat us in debt? Not fair.
good for them
I hope that in the future the debt of Greece will be practically absent, because such a country would really deal with problems like Turkey and Cyprus, when the debt only interferes.
pay debnts