Greece’s budget execution showed a primary surplus of 1.54 billion euros in the first quarter of 2014, three times higher than the 520 million posted in the corresponding period last year, according to the final data released by the Ministry of Finance (MoF).
Moody’s upgraded on Tuesday its outlook on Greek banks to stable from negative, reflecting its expectations for an economic recovery in 2014-15 after six years of recession.
The year on year (YoY) credit contraction in the Greek market slightly accelerated to 4.1 percent in March from 4 percent in the preceding two months, with balances reaching 215.88 billion euros, according to the BoG.
Greek private sector deposits rose 0.3 percent month on month (MoM) in March, with balances reaching 161.05 billion euros, according to the Bank of Greece (BoG).
The European Commission (EC) published on April 25 its fourth review on Greece’s Economic Adjustment Programme. This was the first report since July 2013 and follows the agreement reached between the troika and the Greek government in mid March after six months of negotiations.
Greece’s trade deficit rose 12.6 percent to 1.99 billion euros in February, resuming an upward trend for the first time since September 2013, according to the Hellenic Statistical Authority (ELSTAT).
Greece’s 2013 general government (gg) deficit reached 23.11 billion euros (12.7 percent of GDP), while debt stood at 318.7 billion (175.1 percent of GDP), according to first notification released by the Eurostat on Wednesday.
As had been rumoured, National Bank of Greece’s board (NBG) decided on April 16 to call an Extraordinary General Meeting for May 10 to approve a capital increase of up to 2.5 billion euros.
Greece's February current account (C/A) deficit rose by 3.6 percent to 709 million euros, according to the Bank of Greece (BoG).
Greece’s central government net balance to March on a cash basis showed a deficit of 1.14 billion. 59 percent lower compared to last year’s 2.76 billion, according to the Bank of Greece (BoG).