Newsletter March,2026,03

MARCH

Also in this issue:


  • Economic Growth – Greece’s GDP grew by 2.4% year-over-year and 0.8% quarter-over-quarter in the last three months of 2025, according to the latest data from the Hellenic Statistical Authority. For the full year, the Greek economy expanded 2.1% last year, in-line with European Commission forecasts. The composition of growth in the fourth quarter shifted towards greater investment and private consumption, offsetting lower public consumption. Investment activity was notably robust, as gross fixed capital formation rose by 14.0% year-over-year, due to RRF-funded initiatives, ongoing infrastructure projects, and corporate investment.
  • E-government Services – Greece’s suite of online public services has been ranked above average compared with the world’s most developed economies. According to the Digital Government Index (DGI) of the OECD, Greece was ranked 14th among 36 member countries surveyed in 2025 with an overall score of 0.71, compared with an average score of 0.70 in the OECD. Overall, Greece’s e-government services were ranked above average in four of the six sub-categories of the index including, among other things, citizen-oriented services.
  • Greek Film – Greece’s audiovisual sector generated almost €1 billion for the Greek economy over the last several years, according to a recent study by the Hellenic Film & Audiovisual Center (EKKOMED). The study says that between 2018 and 2025, the industry created €928.7 million in Gross Value Added and annually supported 2,900 full time jobs. The study comes as major foreign film productions featuring Hollywood stars like Brad Pitt and Daniel Craig are currently being filmed in Greece.
  • Private Universities – Five foreign universities have applied for licenses to establish and operate private universities in Greece, joining half-a-dozen previous applicants, following recent government reforms to liberalize higher education. The most recent applicants are Georgetown University, Iowa State University of Science and Technology, European University Cyprus, and Roger Williams University, all planning to start operations in the 2026-2027 academic year. The University of Sunderland intends to open a branch in 2027-2028. Additionally, five universities, who had previously applied but were rejected, have since requested a re-evaluation of their original applications.
  • Greek Extroversion – Greece’s Ministry of National Economy and Finance has approved 447 projects to boost export initiatives by small- and medium-sized businesses under the European Union’s 2021-2027 Competitiveness program with a total budget of €116.0 million, including public spending of €51.2 million. The approved projects are financed by the European Regional Development Fund of the EU and by the Greek government, with the aim of strengthening and supporting the export orientation of the country’s SMEs.
  • Greek Shipyards – Greece’s ONEX Shipyards & Technologies and South Korea’s Hanwha Power Systems group have signed a cooperation agreement on shipbuilding and energy, at a ceremony at the U.S. Department of Transportation and in the presence of Greek Foreign Minister George Gerapetritis and US Deputy Secretary of State Michael Rigas. Mr. Gerapetritis described the agreement as a “milestone” for a new era of trilateral cooperation between the Greece, South Korea and the U.S. The agreement comes as Greece, in conjunction with the U.S. and other allies, establishes itself as a regional energy hub for Southeast Europe.
  • Regional Security – Greece will extend air and missile defense coverage to neighboring Bulgaria by activating Patriot systems and deploying two F-16 fighter jets that will remain within Greek territory, a move officials say underscores Athens’ strategic role in security across Southeastern Europe and the Eastern Mediterranean. Greece also recently sent naval and air assets to Cyprus to help protect the island from missile and drone attacks. Separately, the Foreign Ministry has activated an emergency hotline to provide consular assistance to Greek citizens regarding the situation in the Middle East.
  • Nuclear Energy – Greece will establish a high-level government committee to examine the prospect of using nuclear power as part of its energy mix to complement the country’s growing capacity in renewable sources. “It is time to investigate whether nuclear energy, and in particular small modular reactors, can play a role in the Greek energy system,” Prime Minister Kyriakos Mitsotakis said during a visit to Paris. “Regardless of how much we expand renewable energy sources, we will need a long-term, predictable source for baseload generation. No technology can compete with what nuclear energy offers us.”
  • Offshore Hydrocarbons – Parliament has ratified exploration and production leases for four offshore blocks located southwest of Greece, originally signed by the government in February with a joint venture between U.S. oil major Chevron and HELLENiQ ENERGY. These blocks, which are believed to contain natural gas reserves beneath the seabed, encompass approximately 47,000 square kilometers. Exploration activities are expected to begin in the second half of the year.