The statistic shows the ratio of government expenditure to the gross domestic product (GDP) in Greece from 2020 to 2023, with projections up until 2029. In 2023, Greece's government spending amounted to about 49.55 percent of the gross domestic product. Greece's financial turmoil In 2011, the ratio of government expenditure to GDP in Greece started to decrease significantly from 53.73 percent to 46.36 percent in 2014. However, looking at Greece’s ratio compared to the other member states of the European Union, it shows that Greece - while still having a relatively high ratio - is not at the top of the list of countries with a high public ratio. Yet, Greece has a history of spending significantly more than it has been acquiring in government revenue. This unbalanced spending vs revenue situation is expected to change at some point between 2015 and 2016. When spending more than it received, Greece covered its yearly deficits by borrowing money to make up the difference. The accumulation of these deficits resulted in Greece’s growing debt, which in 2014 amounted to a total of 317.31 billion euros, and with the economic crisis, the country has had difficulties in paying back its large debts. However, it appears as if Greece is beginning to keep government spending below revenue in the near future. In order to recover, the country also needs economic growth, and according to the IMF, GDP is expected to increase after 2015 and along with it, Greece will likely see positive growth rates.

Government Spending in Greece decreased to 9015.70 EUR Million in the first quarter of 2025 from 10551 EUR Million in the fourth quarter of 2024. This dataset provides the latest reported value for - Greece Government Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This statistic shows the government revenue and spending in Greece from 2020 to 2023, with projections up until 2030. In 2023, the government revenue in Greece amounted to around 108.62 billion euros, while government spending came to around 111.58 billion euros.

Greece recorded a Government Budget surplus equal to 1.30 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Greece Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Government spending in Greece was last recorded at 48.0 percent of GDP in 2024 . This dataset provides the latest reported value for - Greece Government Spending to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Greece education spending for 2021 was 7.11%, a 0.43% decline from 2020.

<ul style='margin-top:20px;'>

<li>Greece education spending for 2020 was <strong>7.54%</strong>, a <strong>0.82% decline</strong> from 2019.</li>
<li>Greece education spending for 2019 was <strong>8.36%</strong>, a <strong>0.1% decline</strong> from 2018.</li>
<li>Greece education spending for 2018 was <strong>8.46%</strong>, a <strong>0.42% increase</strong> from 2017.</li>
</ul>General government expenditure on education (current, capital, and transfers) is expressed as a percentage of total general government expenditure on all sectors (including health, education, social services, etc.). It includes expenditure funded by transfers from international sources to government. General government usually refers to local, regional and central governments.

Greece GR: Civil Budget R&D: % of Total GBARD data was reported at 98.252 % in 2022. This records a decrease from the previous number of 98.544 % for 2021. Greece GR: Civil Budget R&D: % of Total GBARD data is updated yearly, averaging 98.759 % from Dec 1981 (Median) to 2022, with 41 observations. The data reached an all-time high of 99.911 % in 2015 and a record low of 96.557 % in 1984. Greece GR: Civil Budget R&D: % of Total GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Greece – Table GR.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Greece, in 2011, the following methodological improvements resulted in a break in series: in the business enterprise sector, a new population frame was defined to cover all R&D-performing firms; in the government sector, the coverage was extended to also cover public hospitals as well as all institutions administered by the Ministry of Culture; in the higher education sector, all Technological Educational Institutes (TEI) and post-secondary establishments were included. These methodological changes were also applied to estimate the total GERD, BERD, GOVERD, and HERD between 2008 and 2010.

The methods for estimating R&D in the Higher Education sector changed in 1983, 1989, and 1995.

From 2008, GBARD data are exclusively based on R&D funders. Part of the increase in 2008 is also explained by a better identification of GBARD for cultural and archaeological activities.

Greece GR: Defence Budget R&D: % of Total GBARD data was reported at 1.732 % in 2023. This records a decrease from the previous number of 1.748 % for 2022. Greece GR: Defence Budget R&D: % of Total GBARD data is updated yearly, averaging 1.247 % from Dec 1981 (Median) to 2023, with 42 observations. The data reached an all-time high of 3.443 % in 1984 and a record low of 0.089 % in 2015. Greece GR: Defence Budget R&D: % of Total GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Greece – Table GR.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Greece, in 2011, the following methodological improvements resulted in a break in series: in the business enterprise sector, a new population frame was defined to cover all R&D-performing firms; in the government sector, the coverage was extended to also cover public hospitals as well as all institutions administered by the Ministry of Culture; in the higher education sector, all Technological Educational Institutes (TEI) and post-secondary establishments were included. These methodological changes were also applied to estimate the total GERD, BERD, GOVERD, and HERD between 2008 and 2010.

The methods for estimating R&D in the Higher Education sector changed in 1983, 1989, and 1995.

From 2023 onwards, the EU contribution regarding projects financed by European Structural and Investment Funds (ESIF) is no longer included in GBARD data. From 2008, GBARD data are exclusively based on R&D funders. Part of the increase in 2008 is also explained by a better identification of GBARD for cultural and archaeological activities.

Greece GR: Revenue and Grants: Revenue: Taxes on Goods and Services: % Value Added of Industry and Services data was reported at 18.445 % in 2016. This records an increase from the previous number of 16.971 % for 2015. Greece GR: Revenue and Grants: Revenue: Taxes on Goods and Services: % Value Added of Industry and Services data is updated yearly, averaging 14.540 % from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 18.445 % in 2016 and a record low of 13.084 % in 2004. Greece GR: Revenue and Grants: Revenue: Taxes on Goods and Services: % Value Added of Industry and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Greece – Table GR.World Bank.WDI: Government Revenue, Expenditure and Finance. Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD value added estimates.; ;

Government Revenues in Greece increased to 34385 EUR Million in June from 28969 EUR Million in May of 2025. This dataset provides - Greece Government Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Greece GR: Net Lending (+) / Net Borrowing (-): % of GDP data was reported at 0.134 % in 2016. This records an increase from the previous number of -5.999 % for 2015. Greece GR: Net Lending (+) / Net Borrowing (-): % of GDP data is updated yearly, averaging -6.223 % from Dec 1972 (Median) to 2016, with 41 observations. The data reached an all-time high of 0.134 % in 2016 and a record low of -19.648 % in 1990. Greece GR: Net Lending (+) / Net Borrowing (-): % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Greece – Table GR.World Bank: Government Revenue, Expenditure and Finance. Net lending (+) / net borrowing (–) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or from abroad.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; Weighted Average;

In Europe, funding for research and innovation largely comes from the business enterprise, government, higher education, and non-profit sectors. Private companies that outsource their research needs – spending on research facilities by the business enterprise sector – are the largest backers. Belgium, Sweden, Austria, Germany and Finland are all home to lots of companies in the biotechnology, pharmaceutical and healthcare sectors that spend on R&D. Government spending on R&D in 2021 was largest in Germany, Czechia, Greece and Belgium. Revenue in Europe's Natural Science and Engineering Research and Development Activities industry is expected to grow at a compound annual rate of 2.1% to €154.7 billion over the five years through 2024. Research activity dropped further in the two years through 2021 because the COVID-19 outbreak caused capital expenditure by the private sector to plummet in 2020, leading to lower private research expenditure and weakening demand for research activities. The need for a speedy vaccine rollout in response to the COVID-19 outbreak boosted R&D activity in medical and health-related sciences, but revenue is anticipated to fall by 2.9% in 2024. Profit tends to be low since it largely depends on the level and reliability of funding from governments and institutions. The average profit margin is set to be 7.0% in 2024. Revenue is projected to swell at a compound annual rate of 4.1% to €189.2 billion over the five years through 2029. The EU has plans to encourage more R&D activity through Horizon Europe and Next Generation EU, which aims to digitalise European economies, supporting demand for natural science and engineering research services.

We exploit the act of the conservative Greek government (2004-2009) to fiddle the books as a natural experiment in order to document a causal link between government spending and electoral fragmentation and identify the mechanism via which it operates. The retrospective revision of Greece’s deficit figures just prior to the 2010 regional elections constituted an information shock which generated expectations for reduced pork-barrel spending. We decompose the resulting effect and uncover the main mechanism taking place: rent-seeking voting and patronage (client-voters abandoning the dominant parties due to less expected rents). We find that expected spending cuts caused a steep decline (increase) in the electoral support for dominant parties (fragmentation). This effect is significantly more pronounced in patronage-intense regions. Using the size of public sector as a proxy for patronage (Hicken 2011) we find that support for dominant parties declined differentially by 5 percentage points more on those regions. That is, at least one in six voters that abandoned the big parties did so out of purely opportunistic motivations. Overall, our work highlights the importance of institutional constraints in affecting electoral and political power-sharing.

Greece GR: Net Lending (+) / Net Borrowing (-) data was reported at 234.000 EUR mn in 2016. This records an increase from the previous number of -10,577.000 EUR mn for 2015. Greece GR: Net Lending (+) / Net Borrowing (-) data is updated yearly, averaging -6,943.000 EUR mn from Dec 1972 (Median) to 2016, with 41 observations. The data reached an all-time high of 234.000 EUR mn in 2016 and a record low of -35,926.000 EUR mn in 2009. Greece GR: Net Lending (+) / Net Borrowing (-) data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Greece – Table GR.World Bank: Government Revenue, Expenditure and Finance. Net lending (+) / net borrowing (–) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or from abroad.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

Greece GR: GERD Performed: Government Sector data was reported at 20.987 % in 2022. This records a decrease from the previous number of 22.310 % for 2021. Greece GR: GERD Performed: Government Sector data is updated yearly, averaging 23.773 % from Dec 1981 (Median) to 2022, with 30 observations. The data reached an all-time high of 63.080 % in 1981 and a record low of 19.834 % in 2004. Greece GR: GERD Performed: Government Sector data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Greece – Table GR.OECD.MSTI: Gross Domestic Expenditure on Research and Development: OECD Member: Annual.

In Greece, in 2011, the following methodological improvements resulted in a break in series: in the business enterprise sector, a new population frame was defined to cover all R&D-performing firms; in the government sector, the coverage was extended to also cover public hospitals as well as all institutions administered by the Ministry of Culture; in the higher education sector, all Technological Educational Institutes (TEI) and post-secondary establishments were included. These methodological changes were also applied to estimate the total GERD, BERD, GOVERD, and HERD between 2008 and 2010.

The methods for estimating R&D in the Higher Education sector changed in 1983, 1989, and 1995.

From 2008, GBARD data are exclusively based on R&D funders. Part of the increase in 2008 is also explained by a better identification of GBARD for cultural and archaeological activities.

The long-term interest rate on government debt is a key indicator of the economic health of a country. The rate reflects financial market actors' perceptions of the creditworthiness of the government and the health of the domestic economy, with a strong and robust economic outlook allowing governments to borrow for essential investments in their economies, thereby boosting long-term growth.

The Euro and converging interest rates in the early 2000s

In the case of many Eurozone countries, the early 2000s were a time where this virtuous cycle of economic growth reduced the interest rates they paid on government debt to less than 5 percent, a dramatic change from the pre-Euro era of the 1990s. With the outbreak of the Global Financial Crisis and the subsequent deep recession, however, the economies of Greece, Italy, Spain, Portugal, and Ireland were seen to be much weaker than previously assumed by lenders. Interest rates on their debt gradually began to rise during the crisis, before rapidly increasing beginning in 2010, as first Greece and then Ireland and Portugal lost the faith of financial markets.

The Eurozone crisis

This market adjustment was initially triggered due to revelations by the Greek government that the country's budget deficit was much larger than had been previously expected, with investors seeing the country as an unreliable debtor. The crisis, which became known as the Eurozone crisis, spread to Ireland and then Portugal, as lenders cut-off lending to highly indebted Eurozone members with weak fundamentals. During this period there was also intense speculation that due to unsustainable debt loads, some countries would have to leave the Euro currency area, further increasing the interest on their debt. Interest rates on their debt began to come back down after ECB Chief Mario Draghi signaled to markets that the central bank would intervene to keep the states within the currency area in his famous "whatever it takes" speech in Summer 2012.

The return of higher interest rates in the post-COVID era

Since this period of extremely high interest rates on government debt for these member states, the interest they are charged for borrowing has shrunk considerably, as the financial markets were flooded with "cheap money" due to the policy measures of central banks in the aftermath of the financial crisis, such as near-zero policy rates and quantitative easing. As interest rates have risen to combat inflation since 2022, so have the interest rates on government debt in the Eurozone also risen, however, these rises are modest compared to during the Eurozone crisis.

In Europe, funding for research and innovation largely comes from the business enterprise, government, higher education, and non-profit sectors. Private companies that outsource their research needs – spending on research facilities by the business enterprise sector – are the largest backers. Belgium, Sweden, Austria, Germany and Finland are all home to lots of companies in the biotechnology, pharmaceutical and healthcare sectors that spend on R&D. Government spending on R&D in 2021 was largest in Germany, Czechia, Greece and Belgium. Revenue in Europe's Natural Science and Engineering Research and Development Activities industry is expected to grow at a compound annual rate of 2.1% to €154.7 billion over the five years through 2024. Research activity dropped further in the two years through 2021 because the COVID-19 outbreak caused capital expenditure by the private sector to plummet in 2020, leading to lower private research expenditure and weakening demand for research activities. The need for a speedy vaccine rollout in response to the COVID-19 outbreak boosted R&D activity in medical and health-related sciences, but revenue is anticipated to fall by 2.9% in 2024. Profit tends to be low since it largely depends on the level and reliability of funding from governments and institutions. The average profit margin is set to be 7.0% in 2024. Revenue is projected to swell at a compound annual rate of 4.1% to €189.2 billion over the five years through 2029. The EU has plans to encourage more R&D activity through Horizon Europe and Next Generation EU, which aims to digitalise European economies, supporting demand for natural science and engineering research services.

The majority of demand for weapons and ammunition manufactured by European companies comes from the European defence sector and allied militaries like the US. Domestic and international defence budgets are the primary driver of revenue, typically increasing during geopolitical tension and conflict. Yet, the industry faces intense global competition from US manufacturers, which produce the lion's share of ammunition and weapons globally. Imports increased strongly over the past few years, totalling €4.6 billion in 2024, as the Russia-Ukraine conflict encouraged a flood of US weapon and ammunition imports to assist Ukraine with the war effort. Over the five years through 2024, industry revenue is expected to fall at a compound annual rate of 3.6% to €23.6 billion. Industry revenue has fallen despite rising geopolitical tensions and conflict in Europe, dragging European defence spending to historical highs. Soaring inflation over 2022 lowered European manufacturers' competitive advantage relative to the US and weighed on revenue growth. The war supported a 2.3% hike in revenue over 2023, with European governments sealing deals with weapon manufacturers to safeguard the defence sector. Over the five years through 2029, industry revenue is expected to soar at a compound annual rate of 5.3% to reach €30.5 billion. The Russia-Ukraine conflict has led to more government spending pledges, sustaining orders for defence contractors, with the UK government planning to spend £242 billion (€289.9 billion) on defence equipment procurement over the next 10 years (starting February 2023). Supported by the European Defence Fund, many European governments and NATO countries have committed to spending over 2% of annual GDP on defence, boosting innovation within the industry and fuelling revenue growth. The profit is 16.6% for 2024.

National Strategic Reference Framework (N.S.R.F.) 2007-2013, Greece Data for R&D projects: Indicators of absorption, evaluation and effectiveness Primary Research Data for all R&D projects Public expenditure by R.T.D.I. sector and beneficiary, by Sector and subsector R.T.D.I, by Region and Beneficiary, by Operational Program, by Regional Operational Program, public expenditure by beneficiary Descriptive data of result indicators for the implemented research projects of the programming period 2007-2013

Greece GR: Government-Financed GERD: % of GDP data was reported at 0.648 % in 2021. This records an increase from the previous number of 0.645 % for 2020. Greece GR: Government-Financed GERD: % of GDP data is updated yearly, averaging 0.278 % from Dec 1981 (Median) to 2021, with 29 observations. The data reached an all-time high of 0.648 % in 2021 and a record low of 0.116 % in 1981. Greece GR: Government-Financed GERD: % of GDP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Greece – Table GR.OECD.MSTI: Gross Domestic Expenditure on Research and Development: OECD Member: Annual.

In Greece, in 2011, the following methodological improvements resulted in a break in series: in the business enterprise sector, a new population frame was defined to cover all R&D-performing firms; in the government sector, the coverage was extended to also cover public hospitals as well as all institutions administered by the Ministry of Culture; in the higher education sector, all Technological Educational Institutes (TEI) and post-secondary establishments were included. These methodological changes were also applied to estimate the total GERD, BERD, GOVERD, and HERD between 2008 and 2010.

The methods for estimating R&D in the Higher Education sector changed in 1983, 1989, and 1995.

From 2008, GBARD data are exclusively based on R&D funders. Part of the increase in 2008 is also explained by a better identification of GBARD for cultural and archaeological activities.