The Greek economy is currently facing a structural productivity problem that limits its potential for sustainable growth and convergence with Europe. Despite the recovery of recent years, labor productivity in 2024 remains roughly at the 2000 level, while the gap with the EU average has widened. At the same time, the growth of the Greek economy has been driven mainly by an increase in employment and less by improvements in productivity, a fact that limits the potential for sustainable income growth and long-term convergence with Europe. Boosting productivity has a positive impact on wages and is an essential prerequisite for their sustainable growth.

Productivity varies significantly across sectors, in line with their productive characteristics, capital intensity, and technological base. The study highlights the importance of investment, technological upgrading, skills development, business expansion, as well as institutional and structural interventions—such as faster access to justice, reducing bureaucracy, and improving the business environment—as key prerequisites for boosting the productivity of the Greek economy.