Greece: Olympic Games 2004 and EU transfers now stimulate economic activity - but then what?

Contrary to expectations, the Greek economy in 2002 performed better than the western European average. The real gross domestic product increased by around 4%. The situation on the labour market improved a little, and the unemployment rate decreased to 9.9% for the year. At an increase of 3.9%, inflation was worrying. In 2003 real GDP will expand by about 3% and the unemployment rate will fall to 9¾%. Prices will be around 3½% higher than the previous-year level. In 2004 GDP will grow by 3½%, prices will increase by 3½% for the year, and the unemployment rate will fall to 9¼%.