Greece ranks second in the European Union in terms of government spending on Research and Development during the period 2012-2022, and is now the sixth country among the “27” in government spending on R&D as a percentage of GDP.
More specifically, according to Eurostat data, the annual government expenditure on Research and Development in Greece amounted to 1.581 billion euros in 2022 compared to 1.4 billion euros in 2018 (up 51%) and 731.94 million euros in 2012 (up 116%).
In 2022 government spending on R&D in Greece as a percentage of GDP amounted to 0.76%, above the EU average which was at 0.74%, a performance based on which Greece ranks sixth among the “27”, after Germany, Finland, Austria, Denmark and the Netherlands.
In 2012, government spending on R&D in Greece amounted to just 0.39%, below the EU average (0.69%), a performance based on which the country was ranked 18th among the EU member states.
Moreover, Greece ranks second in the growth rate of per capita government spending on R&D with a 129% rise to 151.2 euros in 2022 from 66 euros in 2012 (Latvia is first, but starting from a lower base).
Commenting on Eurostat’s figures, the Minister of Development, Kostas Skrekas, underlined that “the official figures of the European Statistical Authority confirm the progress that has been made in the field of research & development during the first term of the government of Kyriakos Mitsotakis”.
Skrekas added “we are rapidly advancing our program for even more positive results in the second term of the government, always keeping in mind that the investment in Research & Development is an investment in a better future, with multiplier effects on the entire economy.”
