Greece economy at a glance

Latest figures for Greece: inflation, growth, interest rates, jobs, bond yields, debt and taxes. Updated 6 November 2026. Open Greece on the interactive map →

Key figures

Indicator	Latest	Period	Previous
Inflation (consumer prices, year on year)	5.6%	October 2026	5.1% September 2026
Core inflation (excluding food and energy)	4.7%	October 2026	4.6% September 2026
Real GDP growth (year on year)	1.9%	Q2 2026	2.0% Q1 2026
Policy rate (European Central Bank)	2.50%	November 2026	2.50% October 2026
Unemployment rate	7.6%	September 2026	7.4% August 2026
10-year government bond yield	4.23%	September 2026	3.87% August 2026
Manufacturing PMI (S&P Global Greece Manufacturing PMI)	53.3	October 2026	54.0 September 2026
Retail sales (year on year)	6.1%	August 2026	5.1% July 2026
Industrial production (year on year)	6.0%	August 2026	−1.0% July 2026
Wages (year on year)	3.9%	Q2 2026	6.4% Q1 2026
House prices (year on year)	5.5%	Q2 2026	6.6% Q1 2026
Stock market (Athens Stock Exchange General Index)	2,611	November 2026	+25.4% over 12 months

Questions and answers

What is the inflation rate in Greece?

Greece's annual inflation rate was 5.6% in October 2026, up from 5.1% in September 2026.

What is the interest rate in Greece?

The European Central Bank deposit facility rate is 2.50% (as of November 2026). The next rate decision is due on 17 December 2026.

How fast is Greece's economy growing?

Greece's real GDP grew 1.9% year on year in Q2 2026. The IMF's October 2026 World Economic Outlook forecasts growth of 1.8% in 2026 and 1.8% in 2027.

What is the unemployment rate in Greece?

Greece's unemployment rate was 7.6% in September 2026, up from 7.4% in August 2026.

What is Greece's 10-year government bond yield?

Greece's 10-year government bond yield averaged 4.23% in September 2026.

How much government debt does Greece have?

Greece's government debt is about 145.4% of GDP (latest annual figure), with a budget surplus of 2.0% of GDP.

What is Greece's credit rating?

Greece's sovereign credit ratings: S&P BBB, Moody's Baa3, Fitch BBB.

What is the VAT rate in Greece?

Greece's standard VAT rate is 24% (2026 rules).

What is the corporate tax rate in Greece?

Greece's corporate income tax rate is 22.0% (2026 rules).

Who leads Greece?

Greece is led by Prime Minister Kyriakos Mitsotakis (New Democracy); President Konstantinos Tasoulas (head of state). Next election: Parliamentary election due in spring 2027 (Mitsotakis ruled out a snap vote in 2026).

Outlook

The IMF (Oct 2026 WEO) sees growth of 1.8% in both 2026 and 2027, while the government's 2027 draft budget assumes 2.0% and 2.3%, driven by investment (+7.9% in 2027) as EU recovery-fund projects are completed. The main downside risks are the energy shock, which pushed HICP inflation to 5.1% in September, a possible tourism slowdown, the end of the RRF, and an uncertain spring 2027 election in which New Democracy may fall short of a majority. On the upside, S&P kept its BBB rating with a stable outlook on 23 Oct and sees growth of about 2.1% a year in 2027–29, and Fitch (6 Nov) could still follow Moody's and Scope with a positive move, as debt (145.4% of GDP at end-2025) is set to fall below 130% in 2027.

Why Greece matters for the world economy

Greece matters for the world mainly through shipping: Greek owners control the world's largest merchant fleet by tonnage, including a large share of crude and product tankers, so disruptions around Hormuz and the Red Sea run straight through Greek balance sheets and freight rates. The country is also a sizeable refined-fuel exporter, and its LNG terminals and the north-south gas 'Vertical Corridor' make it an energy gateway for Bulgaria, North Macedonia and onward to Ukraine. Tourism links it to demand from Germany, the UK and the US. Financially, most of its debt is held by official creditors (ESM/EU), so market contagion is limited. However, its turnaround from crisis to rising ratings is a bellwether for euro-periphery spreads, and Cyprus, Bulgaria and the western Balkans are most exposed to its economy and banks.

Politics

Mitsotakis's centre-right New Democracy has governed alone since 2019. Its support has slipped below 30% from 40.5% at the 2023 election amid cost-of-living anger and corruption allegations, so an outright majority in the spring 2027 election is uncertain. Ahead of the vote the government is pairing a €3.5bn multi-year package of tax cuts and bonuses (announced in September) with continued large primary surpluses and early debt repayment. That fiscal record has brought rating upgrades and kept Greek spreads tight despite the energy shock.

System: Unitary parliamentary republic.

Economy and taxes

GDP: US$281 billion
Population: 10.4 million
Government debt: 145.4% of GDP
Budget balance: 2.0% of GDP
Current account: −5.6% of GDP
Exports: 39.5% of GDP
Main exports: Refined petroleum products (about a quarter of goods exports), food and beverages (olive oil, fruit, dairy), chemicals and pharmaceuticals, aluminium and other metals, manufactured goods; services exports are dominated by tourism and shipping
Top export markets: Italy (9.1%), Germany (7.8%), Cyprus (6.8%), Bulgaria (6.5%), United States (4.9%)
IMF growth forecast: 1.8% in 2026, 1.8% in 2027
IMF inflation forecast: 4.2% in 2026, 3.6% in 2027
Currency: EUR
Freelancer tax: A self-employed person earning the average wage (EUR 29,652 a year) pays about 26.1% of it in income tax and social contributions (2026 rules)
Top income tax rate: 44.0%
Gold reserves: 114.7 tonnes (July 2026)
Energy self-sufficiency: 13% (2024)

Recent news

4 November 2026 Greek inflation jumps to 5.6%, among the euro area's highest Eurostat
Eurostat's flash estimate put Greece's annual inflation at 5.6% in October, up from 5.1% in September and well above the euro-area average of 4.0%, as energy prices across the bloc rose 20.8% on a year earlier.
2 November 2026 Greek factory growth slows as PMI eases to 53.3 S&P Global via Trading Economics
S&P Global's manufacturing PMI fell to 53.3 in October from 54.0, a second monthly drop. Output, orders and hiring still grew, but new orders rose at the slowest pace since May and Middle East disruption kept costs and delivery delays high.
30 October 2026 Greek unemployment edges up to 7.6% in September ELSTAT via Trading Economics
ELSTAT data showed the seasonally adjusted jobless rate rising to 7.6% from 7.4% in August, just above a near-18-year low, as employment fell by about 9,000. Women's unemployment, at 10.5%, stays about double the rate for men.
26 October 2026 Greece and partners reject Libya's move to ratify its maritime deal with Turkey Proto Thema
At the UN, Greece, the EU, Egypt, Cyprus, Bahrain and the UAE called the 2019 Turkey–Libya maritime memorandum null and void after Libya's parliament moved to ratify it. They say it ignores islands' rights at sea, a long-running source of tension in the eastern Mediterranean.
23 October 2026 S&P keeps Greece at BBB with a stable outlook Greek City Times
S&P affirmed Greece's investment-grade rating, citing strong tax receipts, growth led by tourism and investment, and falling debt, and expects a 3.8%-of-GDP primary surplus in 2026. It did not follow Moody's and Scope in signalling an upgrade; Fitch reviews Greece on 6 November.
16 October 2026 Energy costs lift Greek HICP inflation to 5.1% Eurostat
Eurostat data showed Greek harmonised inflation jumped to 5.1% in September from 3.7% in August, with prices up 1.9% in the month alone. This puts Greece well above the euro-area average of 3.8% as the ECB weighs its next move.

Headlines and summaries are compiled daily from the linked reports with AI assistance.