No final decision on Greek debt relief is expected at Thursday’s Eurogroup, although Athens has received assurances that an agreement will be reached by June 21, when eurozone finance ministers are due to meet in Luxembourg.
Greece’s travel balance rose by 48.2 percent year-on-year in March, recovering from a 135.2 percent drop noted in February, Bank of Greece (BoG) data revealed on Tuesday.
Athens Stock Exchange’s (ATHEX) first quarter (Q1) results showed that group turnover grew 29 percent year-on-year.
Prime Minister Alexis Tsipras outlined at a cabinet meeting on Monday the growth strategy for the post-programme era, confirming that this task has now been completed and that his government can focus on the other parts of the fourth review that need to be taken care of.
Greece’s industrial turnover increased by 3.4 percent in March after February’s growth was revised upward to 3.9 percent, Hellenic Statistical Authority (ELSTAT) data published on Monday showed.
Greece’s current account (C/A) balance recorded a deficit of 955.8 million in March, improving against February’s deficit of 1.29 billion, Bank of Greece (BoG) figures showed on Monday.
After Greece and the institutions reached a staff-level agreement on Saturday, attention is turning to the implementation of the fourth review’s prior actions and the discussion on debt relief and post-programme monitoring between the creditors.
Greece and the institutions confirmed on Saturday that they have reached a staff-level agreement (SLA), which paves the way for a global agreement between all sides by June 21, the date targeted by Athens and the lenders.
Greece’s central government debt rose by 15.04 billion to 343.74 billion euros quarter-on-quarter (QoQ) in the first quarter (Q1) of 2018, from 328.70 billion in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Friday.
There appears to have been a breakthrough in the negotiations between Greece and the institutions regarding fiscal issues, which would remove one of the biggest obstacles towards reaching a staff-level agreement on May 24.