Bank of Greece Governor Sees Limited Direct Impact from US Tariffs

08:55 30/4/2025 - Πηγή: iEfimerida

Bank of Greece Governor Yannis Stournaras said Tuesday that the direct impact of higher U.S. tariffs on the Greek economy will be limited.

Speaking at a CEO Club event, Mr. Stournaras also indicated that the European Central

Bank plans to further reduce interest rates to 2%.

Mr. Stournaras explained that Greece has low trade dependency on the U.S., so it is expected to face minimal direct effects from the tariff increase.

However, he cautioned that a global trade slowdown could reduce demand for Greek products and services, potentially limiting economic growth.

Increased market uncertainty could also deter investment.

Despite these risks, Mr. Stournaras highlighted recent credit rating upgrades for Greece, noting that the country stands out as a positive exception amid global volatility.

He also outlined other factors affecting Greece’s economic prospects, including delays in utilizing Recovery Fund resources, the impact of climate change on natural disasters, and a tightening labor market with rising wages.

Mr. Stournaras emphasized the need for a cohesive economic strategy focused on fiscal balance, financial stability, and boosting productivity.

He stressed that accelerating the absorption of Recovery Fund resources is critical to reducing the investment gap and strengthening Greece’s economic resilience.

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