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||1995 - 2015
Greece has a service based economy and is one of the top tourist destinations in the world. Following the entry to the European Union in 1980 and the Euro Area in 2000, the Greek economy had been recording high rates of growth. Yet, as this expansion had been fueled mainly by the access to cheap credit and growth of public sector, in 2008 the budget deficit and sovereign debt had reached unsustainable levels. As a result, Greece faces the worst crisis since 1974 and tough reforms enforced by the IMF and the European Commission as part of the bailout programme are taking place. In 2014, the private final consumption expenditure was the main component of GDP accounting for 72 percent of its total use, followed by the government final consumption expenditure (20 percent) and the gross capital formation (12 percent). This page provides the latest reported value for - Greece GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - Greece GDP Growth Rate - was last refreshed on Thursday, September 3, 2015.