Economy
Underspend and improving revenues lead to budget primary surplus of 2.67 bln in Q1
Greece’s budget primary surplus in the first quarter of 2016 was confirmed at 2.67 billion euros, which was 940 million higher than last year’s figure of 1.73 billion, according to the Finance Ministry’s final budget bulletin.
Stocks surge 5.4 pct during week amid hopes for swift conclusion of review
The Greek stock market traded in positive territory this week in almost all the sessions, ending the week up 5.4 percent as the investor sentiment improved in the aftermath of progress in most areas of the first programme review.
Travel receipts drop 6.7 pct in Feb, balance turns to deficit of 3.8 mln
Greece's travel receipts fell for the second straight month in February, when they declined by 3.8 percent to 133.7 million euros in February, Bank of Greece (BoG) figures showed on Thursday.
Greek 2015 primary surplus at 0.7 of GDP under programme method as Athens looks for boost
Greece’s statistical authority (ELSTAT) released on Thursday the final fiscal figures for the 2012 – 2015 period based on the ESA 2010 methodology.
Overdue contributions rise by 429 mln to 15.78 bln in Q1
Unpaid social security contributions increased by another 429 million euros quarter on quarter (QoQ) to 15.78 billion at the end of the first quarter (Q1) of 2016, the quarterly bulletin of the Center for the Collection of Social Security Arrears (KEAO) displayed on Wednesday.
Elektroniki’s bankruptcy reflects struggles of consumer electronics sector
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Last week, electronics retail chain Elektroniki Athinon declared bankruptcy, citing a combination of a drop in demand, the capital controls introduced last year and a lack of confidence in the Greek economy by foreign suppliers as causes.
Primary cash surplus widens to 2.85 bln in Q1
Greece’s central government primary cash balance improved to 2.85 billion euros in the first quarter (Q1) of 2016 from 1.19 billion last year, Bank of Greece (BoG) figures showed on Wednesday.
Current account deficit narrows by 45 pct to 804.3 mln in Feb
Greece's current account (C/A) deficit narrowed by almost 45 percent to 804.3 million euros in February from 1.45 billion a year ago, Bank of Greece (BoG) figures showed on Wednesday.
Stable credit standards for loans in Q1, small uptick in demand for SME and housing lending
Credit standards for both corporate and household loans remained broadly unchanged quarter on quarter (QoQ) in Q1 of 2016, according to the Bank of Greece’s (BoG) bank lending survey.
Gov't unveils bill to overhaul pension system, increase income tax revenues
One of the main interventions that the reform bill introduces is that all main pension funds are consolidated into the new National Security Body with a unified methodology applied for the calculation of social security contributions as of 2017, as well as for granting pensions as of 2016.