The Greek economyretains strong growth momentum, which is expected to continue to support bank loan growth and investment activity in the coming years, according to Goldman Sachs analysis by economist Filippo Taddei and the firm’s European finance team.
As the house points out, the Greek economy appears more resilient than the rest of the eurozone, while the strong relationship between economic growth and credit expansion creates the conditions for a further boost to investment.
According to Goldman Sachs, recent economic activity indicators show that GDP growth in Greece remains above 2%, while confidence indicators are moving upwards.
The house’s key assessment is that, as long as the energy crisis does not derail the European economic recovery, the positive momentum of the Greek economy will continue to boost credit expansion and gradually extend to the construction sector.
In other words, the relationship between growth, bank lending and investment appears to be reactivating in Greece, creating a favorable context for continued investment recovery in the coming years.
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