Despite a Covid-induced 8.2% contraction in GDP last year, compounding over a decade of economic decline, Greece serves as an unexpected source of optimism within the southern and eastern Europe region. Despite losing its title as the largest regional economy to Romania in recent years, it is set for a semi-swift bounce back, with the EU recently forecasting growth of 4.3% for 2021.
Supporting the buoyancy is the fact that, throughout its many years of economic torment, Greece has reformed its economy into a sustainable one which, in the words of Bernitsas Law managing partner Panayotis Bernitsas, is a ‘safe and welcome option for international investment’. Bernitsas adds that his firm has been heavily involved in a number of ‘legislative changes aimed at cutting back the red tape’ and ‘creating a more business-friendly environment’.
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