Greece's Recovery: Impressive, But Incomplete

Greece has achieved a strong economic rebound since its bailout exit, yet GDP per capita convergence remains stalled. Success now depends on shifting investment toward higher-productivity sectors and completing structural reforms.

Key Takeaways

• 1.Greece has seen a robust GDP rebound since 2018, outperforming the Eurozone, largely driven by RRF-funded investment.
• 2.Income convergence with the European average remains limited due to stagnant labour productivity and weak capital deepening.
• 3.Structural barriers, including small firm size, reliance on labour-intensive sectors, and inefficient capital reallocation, constrain growth.

Table of Contents

• Greece's recovery: impressive, but incomplete
• Strong GDP growth recovery...
• ...but limited progress in income convergence
• Structural gaps persist
• Completing the reform agenda

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