Global economic activity may have slowed, but the risk of a synchronized recession has for now been removed.
Inflationary pressures are slowly easing, discounting further increases in the cost of money, according to the June 2023 Attica Economic Review prepared by Attica Bank, in collaboration with the Foundation for Economic and Industrial Research (IOBE).
Rising interest rates together with uncertainty due to ongoing war and rising costs of living and production, still pose barriers to household and business planning, respectively.
Meanwhile, the fact that the new government achieved an absolute majority has eliminated the risk of political instability in the short term. This has improved the investment climate, and has strengthened the expectations for the recovery of the investment grade in the second half of the year, according to the Attica Bank report.
