Q4 2021 Motor Oil Hellas Corinth Refineries SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by. I am Poppy, your Chorus Call operator. Welcome and thank you for joining Motor Oil conference call and live webcast to present and discuss the full year 2021 financial results. At this time, I would like to turn the conference over to Mr. Tzannetakis Petros, Deputy Managing Director and Chief Financial Officer, and Ms. Psyllaki Mary, Investor Relations Officer. Mr. Tzannetakis, you may now proceed.
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Hello to all of you. Good evening and good morning from sunny Athens. We are back; it's spring -- after a very heavy winter, at least for our taste. Full-year 2021 results, Greek macros. During the fourth quarter of last year, Greece's GDP grew by 7.7% year-on-year on seasonally adjusted terms. For the whole of 2021, GDP expanded 8.3% reaching 181 billion in volume terms, exceeding both government and bank's forecasts.
The expectation for economic growth in Greece was strong in the start of 2022, but the war in
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