Economy
Deposit inflows reach 1.30 bln in August on increased sight deposits
Net deposit movement in the Greek banking system strengthened in August with inflows of 1.30 billion from 840.6 million in July, Bank of Greece (BoG) figures revealed on Thursday.
Athens prepares 2019 draft budget amid pension cuts dilemma
The Greek government is set to take the next step in its efforts to call off next year’s pension cuts, when it submits the draft 2019 budget but finds itself in a delicate balancing act between domestic political pressures and the creditors’ concerns.
Credit contraction stays at 1.5 pct in August, balance reaches 177.44 bln
Credit contraction in the Greek market came to 1.5 percent in August, unchanged from July, Bank of Greece (BoG) figures showed on Thursday.
Economic sentiment drops in September to 101.3, consumer confidence picks up
Greece’s economic sentiment (ESI) fell by 3.9 points to 101.3 in September compared to 105.2 in August, European Commission (EC) figures revealed on Thursday.
Piraeus Port Authority posts net profits of 13.3 mln in H1
Piraeus Port Authority’s (PPA) results for the first half (H1) of the year show that revenues rose by 12.6 percent during the period.
Moody's explains cautious approach to Greek credit rating upgrade
Contrary to the expectations that it might upgrade Greece’s credit rating during a scheduled update last week, Moody’s announced that it would not make any change, keeping the country at B3 and the outlook positive.
PPC posts pre-tax loss of 26.9 mln in H1
The Public Power Corporation’s (PPC) results for the first half (H1) of the year showed that turnover decreased by 6.8 percent during the first six months of the year.
PDMA readies bond schedule for 2019, with eye on prepayment of IMF loans
Greece’s Public Debt Management Agency (PDMA) is expected to publish its issue schedule at the start of December, shortly after the budget for 2019 has been voted in Parliament.
Budget surplus confirmed at 3.16 billion in August
The budget primary balance was confirmed at a surplus of 3.16 billion euros in the first eight months of 2018, according to the final budget execution bulletin for August published by the Finance Ministry (MoF) on Monday.
VAT revenues up in 2016 but rate hikes fail to close gap of 29 pct
The European Commission's VAT Gap report has revealed that high rates of VAT in Greece appear to have fed tax avoidance rather than close the gap between expected and actual revenues.