Issue No 49 – October 2022



Executive Summary


1. Recent (macro-)economic developments

1.1. The evolution of the aggregate demand components during a period of energy and geopolitical uncertainty,
       Yannis Panagopoulos, Konstantinos Loizos, pages 6-13

1.2. The effect of high energy prices on inflation in Greece and the Euro area,
       Emilia Marsellou, Vassilis Lychnaras, pages 14-21


1.3. Factor model forecasts for the short-term prospects in GDP,

       Factor Model Economic Forecasting Unit Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, pages 22-24


1.4. International trends hold back the stock market,
       Fotini Economou, pages 25-28


1.5. Recent developments and prospects of global economic activity: Slowing rates of economic recovery amid geopolitical, economic and climate disruptions,
       Aristotelis Koutroulis, pages 29-31


2. Fiscal developments

2.1. State Budget, public debt and fiscal figures perspectives,
       Elisavet Nitsi, pages 32-38


3. Human resources and social policies

3.1. Recent developments in key labour market variables,
       Ioannis Cholezas, pages 39-45

3.2. Food and energy household expenditures in Greece: General price trends and their relative weight on household budgets,
       Vlassis Missos, pages 46-49


4. Reforms-Economic development


4.1. Overview of the evolution of the international travel receipts and the average expenditure per trip for the period 2003-2022,
       Nikolaos Rodousakis, George Soklis, pages 50-55


Special topics


The quest for economic development and growth through the aggregate supply
Prόdromos Prodromίdis, pages 56-70