Greek Minister compares economic trajectories of Greece and France

Greek Minister of State Akis Skertsosos has highlighted the diverging economic paths of Greece and France since 2019. According to data and projections through 2026, Greece has seen a cumulative real GDP increase of approximately 13%, more than double France's 6.2% growth.

Skertsos noted that Greece's public debt is projected to fall to 136.7% of GDP this year, down from a peak of nearly 210% during the pandemic, whereas France's debt has risen from 98.2% to 119.3%. While Greece is expected to maintain a budget surplus of 0.6% of GDP by 2026, France faces a 5.4% deficit, necessitating spending cuts.

Regarding labor markets, Skertsos pointed out that as of August, Greece recorded lower unemployment rates than France, with a general unemployment rate of 7.4% compared to 8.2%, and youth unemployment at 15.6% versus 20.6% in France. He emphasized that in 2019, Greece had the highest unemployment rates in Europe, significantly higher than those of France.