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Greece Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
10,761,523 (July 2018 est.)
GDP (PPP)
$299.3 billion (2017 est.)

GDP growth rate
1.4% (2017 est.)

The Country is still recovering from a prolonged recession

GDP (PPP) per capita
$27,800 (2017 est.)

Medium. Drastically reduced in the last years due to the economic crisis (more than 20% GDP pro capita was lost from 2008)

Local currency
Euro (EUR)

The second most importat currency in the world after the USD

Financial stability (Public debt)
181.8% (2017 est.)

Very high, the second highest in the world after Japan. It is stable thanks to strong austerity measures and financial helps from EU, ECB and IMF

Inflation
1.1% (2017 est.)

Still low but recovering from deflation

Language
GreekĀ 

English is spoken as a second language in the main urban or touristic areas

Corruption perception index (Source: Transparency International)
Rank 67/180

High level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
24% standard VAT rate
Reduced rates: 13% (listed food, care to children/elderly/disabled, hotels), 6% (listed entertainment services, medicines, books, electricity and gas) VAT reduced on some islands (Chios, Kos, Lesvos, Leros and Samos)
Corporate Tax
28% standard rate (should be reduced to 27% in 2020)
29% corporate tax rate for financial institution Special taxation for shipping companies (very advantageous)
Duties
European Union customs duties/import tariffs apply

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