Economy
EC autumn forecast lowers growth for 2019 on pending budget finalisation
The European Commission (EC) issued on Thursday its regular autumn forecasts for 2018, the first forecast since 2010 that Greece is not in an adjustment programme.
Unemployment at 18.9 pct in August, unemployed remain under 1 mln
Greece’s seasonally adjusted (SA) unemployment rate fell just below 19 percent to 18.9 percent in August, from an upward revised figure of 19.1 percent in July, the Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
Backpay for civil servants gets "positive" measures rolling for government
The Greek government has submitted to Parliament draft legislation that paves the way for thousands of civil servants to receive millions of euros in backpay, marking the start of a period of intense activity for MPs as the coalition plans to follow this up with other measures promised by Prime Minister Alexis Tsipras at the Thessaloniki Expo in September.
Titan Cement turnover falls but profits rise by 51.8 pct in nine-month period
Titan Cement’s nine month (9M) results revealed that turnover fell by 3.7 percent compared to the same period in 2017.
OTE’s revenues rise by 0.5 pct in nine-month period
The Hellenic Telecommunications Organization S.A (OTE Group) has reported that revenues in the nine-month (9M) period of 2018 edged up by 0.5 percent year-on-year.
Coca-Cola HBC net revenues rise by 1.2 pct in nine-month period
Coca-Cola HBC’s results for the first nine months (9M) of 2018 showed that net sales revenue grew by 1.2 percent year-on-year.
Trade deficit jumps by 39.1 pct in September and rises by 1.4 pct in 9-month period
Greece’s trade deficit jumped by 39.1 percent year-on-year (YoY) in September compared to an increase of 15.1 percent in August, according to data from the Hellenic Statistical Authority (ELSTAT) released on Wednesday.
Appeals over past pension cuts sow confusion about potential fiscal impact of backpay
Two recent decisions by first instance courts in Thessaloniki and Athens that awarded pensioners backpay for income lost due to the pension cuts in 2012 has put the spotlight back on a decision by the Council of State (CoS) in 2015 that deemed the pension cuts which were legislated in two instances in 2012 as unconstitutional.
Sarantis Group turnover rises by 12.7 pct in nine-month period
Consumer product producer and retailer Sarantis Group’s nine-month results show that sales improved by 12.7 percent during the nine-month (9M) period.
Lenders focus on closing any fiscal gap for 2019 ahead of November 19 Eurogroup
Monday’s Eurogroup did not provide any definitive answers regarding the negotiations between Greece and the institution over the 2019 budget but the indications are that Athens will be allowed to scrap next year’s pension cuts if it can re-assure the lenders that the 3.5 percent of GDP primary surplus will not be put at risk.