The Hellenic Fiscal Council (HFC) publishes the Spring Report 2026 on the Greek economy. According to the latest data, it shows a solid fiscal position despite expansionary fiscal measures.
In 2025 the Greek economy grew at a rate of 2.1%, above the EU average, with a growth estimate of 1.9% for 2026 according to the HFC. The General Government balance recorded a surplus of 1.7% of GDP and public debt fell to 146.1% of GDP in 2025. This positive course was also confirmed in the first quarter of 2026, with an estimate for a primary surplus for the whole year at 3.2% of GDP.
This is a “virtuous” combination of primary fiscal surpluses and expansionary fiscal direction, the result of economic growth and increased revenues arising from improved tax compliance and the digital transformation of the tax system, which allows the Greek government to achieve a surplus while at the same time increasing net spending on support measures for the most vulnerable households facing cost-of-living pressures.
However, maintaining growth momentum in the coming years is the most significant challenge for the Greek economy. The chronic structural imbalances of the Greek economy, such as high unemployment, especially among young people, low productivity, and high external debt, combined with the expiration of the Recovery and Resilience Fund and increased geopolitical uncertainty, make it necessary to identify new drivers of growth.
The sustainability of economic progress therefore requires the continuation of prudent fiscal policy alongside the deepening of structural reforms, mainly in areas where Greece lags behind its EU partners, but which can serve as drivers of future growth.
* See the report in the Accompanying Material column.