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GDP
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Economy
BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead The Bank of Greece issued on Monday the Monetary Policy Report for 2020-2021, which was submitted to the Parliamentary Speaker and the Cabinet.
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EconomyMacroeconomy
MTFS forecasts growth of up to 6.2 pct in swift economic recovery from Covid The Finance Ministry submitted to Parliament the latest Medium-Term Fiscal Strategy (MTFS) for the 2022-2025 period, during which a strong economic and fiscal recovery is anticipated following the damage inflicted by the pandemic.
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PoliticsGreek Politics
PM looking to build on RRF approval to augment profile as moderniser Prime Minister Kyriakos Mitsotakis is beginning today a series of visits to various parts of the country to present the government’s Greece 2.0 recovery plan as he tries to build on the momentum of Thursday’s approval by the European Commission.
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EconomyMacroeconomy
PBO ups growth estimate to 3.6-4.8 pct, warns of complacency and inequality risks Following the positive developments in the first quarter of the year, when the economy only shrank by 2.3 pct on an annual basis, in its latest quarterly report the Parliamentary Budget Office shifted from its previous baseline scenario of annual growth of 2.7 pct, to the positive range of growth of 3.6 to 4.8 pct in 2021.
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EconomyMacroeconomy
GDP rises by 4.4 pct QoQ in Q1 and falls 2.3 pct YoY Greece’s seasonally adjusted (SA) GDP rose by 4.4 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2021 after an upward revised increase of 3.4 percent in the previous quarter, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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EconomyProgramme
Creditors give thumbs up for 10th post-MoU review, underline pandemic legacy The Greek authorities overcame one more hurdle in the post-programme surveillance process as the European Commission released on Wednesday the tenth report since the final programme was completed in the summer of 2018.
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EconomyMacroeconomy
OECD ups 2021 growth estimate by nearly 3 points, underlines RRF impact The OECD released on Monday its latest Economic Outlook, in which it significantly revised its growth estimate for Greece for this year to 3.8 pct, from 0.9 pct in the previous forecast last December.
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EconomyMacroeconomy
EC revises growth estimate upward to 4.1 pct this year, 6 pct in 2022 The European Commission updated its economic estimates for Greece in the context of the 2021 Spring Forecasts, where the estimates are slightly improved from the previous forecasts in February.
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EconomyMacroeconomy
Stability Programme reflects subdued expectations for 2021, high hopes for 2022 onwards Greece has submitted to the European Council and Commission its Stability Programme for the period 2022 -2024, which is based on the activation of the general escape clause that allows temporary violations of fiscal commitments due to the pandemic.
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EconomyMacroeconomy
FinMin sees favourable macro environment from next year, boosted by RRF As part of the wider effort to change the narrative that has often brought the government in an awkward spot during the pandemic handling since last summer, the finance minister presented at the cabinet meeting on Monday the objectives and policies that will restart the Greek economy.