Economy
Trade deficit up by 30.9 pct in June as imports grow faster than exports
Greece’s trade deficit jumped by 30.9 percent year-on-year (YoY) in June, reversing the decline of 15.8 percent noted in May according to data from the Hellenic Statistical Authority (ELSTAT) released on Tuesday.
ESM releases final tranche of third bailout, boosting cash buffer ahead of exit
The European Stability Mechanism confirmed on Monday that it has made the fifth and final disbursement of the third programme, marking the penultimate step in the MoU era for Greece.
General govt primary cash surplus at 1.45 bln in June as expenditure picks up
Greece’s general government (gg) primary cash surplus came to 1.45 billion euros in the first six months of the year, down by 1.15 billion euros compared to the first half of 2017, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Last bailout tranche just days away as pension discussion looms
All the hurdles have been cleared for Greece to receive the last tranche of the third and final bailout as focus shifts to the discussions that Athens is due to have with the institutions in the coming weeks, particularly on the issue of next year’s pension cuts.
Banks try to build on growing confidence
With the programme exit now just around the corner and as credit rating agencies and investors start to view Greece’s banks through a more positive lens, the country’s lenders are taking steps to make the most of the current sentiment.
Greece on track for bumper tourism year, figures show
Greece is anticipating another record-breaking year of tourism arrivals this year according to reports from several industry bodies as well as the Bank of Greece. An estimated 30 million visitors are expected to visit the country this year.
PMI at 53.5 pts in July as optimism holds, export orders slow down
Greece’s Manufacturing PMI remained unchanged at 53.5 pointσ in July, staying over the 50-mark threshold for 14 straight months as confidence continues to strengthen.
New overdue taxes rise by 428 mln in June, total stock above 102 bln
Greece’s new tax debt’s month-on-month rise came to 428 million in June, slowing from May’s rise of 610 million euros, data from the Independent Authority of Public Revenues (IAPR) has shown.
Grivalia Properties net profits rise 6 pct in H1
Grivalia Properties’ results for the first half (H1) of 2018 showed that turnover increased by 10.7 percent.
IMF voices concerns over long-term debt, sees more relief being needed
In the report of the Article IV consultation with Greece, the International Monterary Fund (IMF) updated its Debt Sustainability Analysis (DSA) to incorporate the debt relief measures that were agreed by the Eurogroup in June.