There is an investment gap of €67bn in Greek infrastructure investment from 2006 to 2017 which translates to of €2bn p.a.
Our key findings
- Infrastructure investments are vital for the Greek economy having a high economic multiplier of around 1.8x which can boost consumption and investment in other sectors.
- Slightly lower infrastructure pipeline mainly due to completion of major motorway projects in 2017.
From a total of 75 infrastructure projects that will be delivered until 2023, 27 refer to Roads and Ports, 17 to Rail and 10 to Waste Management.
- Most of energy and motorway projects are in progress, 4 rail projects are about to be delivered, while tourist product projects are still in initial development stage.
- Total available funds from the new NSRF 2014-2020 amount to €8.7bln for infrastructure projects until 2020. It is vital to revitalize infrastructure project investment through the effective use of the NSRF, the creation of incentives for private sector participation (concessions), as well as the gradual increase of state funding.
- The main factors contributing to the financing gap for infrastructure are poor planning, slow process of political consensus and delays.
- Private funding (PPPs and Project Bonds) will remain limited until the business environment improves and the political uncertainty decreases.
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Director, Internal Firm Services, Marketing & Communications, Athens, PwC Greece
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