China News Service, April 15. According to a report by the Greek "China-Greece Times" on the 14th, a report by Moody's Analytics showed that the conflict between Russia and Ukraine has had various impacts on Greece, which is expected to drag down its economic growth rate and reduce possible Disposable income.
Tourism prospects for Greece in 2022 are also not optimistic.
According to reports, the company's vice president Michael Grammatikopoulos pointed out that according to the benchmark forecast, due to the Russian-Ukrainian conflict, Moody's lowered its 2022 growth forecast for the Greek economy by 0.8 percentage points to 4.5%, while the overall inflation rate in 2022 will reach a historical 7.7% highs before falling to 3% in 2023.
He added that the duration and extent of the energy shock has a strong impact on the Greek economy, and coupled with rising global food and commodity prices, inflation in Greece will exceed 8% in the second and third quarters.
Moody's expects the Greek tourism industry to face significant challenges in 2022 due to global inflationary pressures and the Russian-Ukrainian conflict, although it has exceeded expectations in 2021.
Analysts believe that the Russian-Ukrainian conflict has led to a slowdown in Greece's GDP growth, partly due to the lack of tourists from Russia, which means that Greece loses at least 400 million euros in annual revenue.