Greece’s remarkable comeback – which hasn’t helped everyone – got a boost with the Economist Intelligence Unit (EIU) ranking the country first in a list of 10 countries with the quickest turnaround in improving their business environment.
That was a jump of 28 spots with Prime Minister Kyriakos Mitsotakis’ pursuit of foreign investors helping bring a return to investment grade status and 5.9 percent growth, expected to be about half that in 2024.
The findings are based on a vector autoregression (VAR) model, which measured two decades’ worth of data in 82 countries and territories that are “on the verge of notable economic growth,” and “favorable destinations to direct future investment spending.”
Greece was ahead of Argentina and India, which were trying to expand exports and making deals with Greece after Mitsotakis went there to return a visit to Athens by Prime Minister Narendra Modi to improve relations between the countries.
“Greece has witnessed the most significant improvement, showing the country’s pro-business government, which has implemented reforms, cut taxes and initiatives to enhance business confidence,” the report said.
The VAR model used by the EIU “suggests that these improvements may result in an uptick in real GDP per capita growth, investment spending and foreign direct investment,” it said.
Read more at thenationalherald.com
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