Greece’s budget execution showed a primary surplus of 835 million euros in January, which was almost double compared to the 415 million posted in the corresponding period last year, according to the final data released by the Ministry of Finance (MoF) on February 24.
Following a meeting last week between Bank of Greece (BoG) senior officials with the top management of the four Greek systemic banks (Alpha, Eurobank, National and Piraeus), where the central bank reportedly informed lenders that their capital needs amount to around 5 billion euros, a Financial Times report published on Monday puts things in a completely different perspective.
Senior officials from the Bank of Greece (BoG) met on Thursday with the top management of the four Greek systemic banks (Alpha, Eurobank, National and Piraeus) and informed them about the outcome of the Blackrock loan diagnostic and their individual capital needs.
Greece posted a current account (C/A) surplus of 1.24 billion euros (0.7 percent of GDP) in 2013 for first time in decades, following a deficit of 4.62 billion in 2012 (2.4 percent of GDP), according to the Bank of Greece (BoG).
The Turnover Index in Industry fell 11.8 percent in December, while the New Orders Index in Industry dropped 7.5 percent, according to the Hellenic Statistical Authority (ELSTAT).
Greece’s central government net balance on a cash basis showed the surplus widening by 53.8 percent to 603 million euros in January from 392 million last year, according to the Bank of Greece (BoG).
Greek non-seasonally-adjusted GDP contracted 2.6 percent in the fourth quarter of 2013, further decelerating from the 3 percent drop posted in the third quarter, according to flash estimates published by the Hellenic Statistical Authority (ELSTAT) on Friday.
The drop in Greece’s Consumer Price Index (CPI) slowed to 1.5 percent in January from 1.7 percent in December, according to the Hellenic Statistical Authority (ELSTAT).
The seasonally adjusted jobless rate continued heading north, reaching 28 percent in November from a downwards revised 27.7 percent the previous month, according to the Hellenic Statistical Agency (ELSTAT). The November rate now holds the new high.
Greek building activity (as measured by the number of building permits) soared 36.2 percent year-on-year (yoy) in November posting a positive growth for the second straight month, according to the Hellenic Statistical Authority (ELSTAT).