Economy
General govt primary cash surplus at 3.51 bln in August, arrears fall by 306 mln
Greece’s general government (gg) primary cash surplus came to 3.51 billion euros in the first eight months of the year, reduced by 750 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
FinMin sets out how it would alter policy mix to prevent pension cuts
In its efforts to avoid the politically sensitive issue of cutting pensions further, the Finance Ministry presented in the draft budget this week an alternative scenario consisting of a significantly different fiscal policy from the one included in the Medium-Term Fiscal Strategy (MTFS) this summer.
Hole in Folli Follie’s accounts leads to resignations and spooks investors
Beleaguered Greek jewellery and fashion accessory retailer Folli Follie Group limped to the end of the summer with no end in sight to their troubles.
Eurogroup suggests there is scope for pension cuts to be called off
The Greek government was given the clearest indication yet on Monday that its European lenders may agree to its request to scrap the pension cuts that are due to be implemented from the start of next year.
Draft budget contains two scenarios on pensions, charts course within agreed fiscal targets
The Finance Ministry (MoF) tabled on Monday afternoon in Parliament’s Economic Affairs Committee the draft budget for 2019, which contains its fiscal estimates as well as the underlying macro assumptions.
Banks submit new NPL targets to SSM, with sales leading way in reduction drive
Greece’s four systemic banks have submitted new Single Support Mechanism (SSM) guidelines on Friday, under which the banks’ bad loans will be tackled.
EYDAP net profits rise to 17.9 mln in H1
The Athens Water Supply and Sewage company (EYDAP) has released its first half (H1) results for the year which revealed that turnover rose by 1.1 percent.
Manufacturing PMI dips slightly to 53.6 pts in September as sentiment remains strong
Greece’s Manufacturing PMI declined slightly to 53.6 points in September from 53.9 points in August, staying over the 50-mark threshold for almost a year and a half as confidence in the sector continues to hold.
Question mark over pension cuts in 2019 draft budget as Athens looks to lenders
The Greek government will not include next year’s pension cuts in the 2019 draft budget due to be submitted to Parliament on Monday as it steps up its efforts to scrap the measure, which was pre-legislated last year.
GEK Terna's H1 net profits hit by stagnant construction sector
Greek construction and energy group GEK Terna’s results for the first half (H1) of 2018 showed that sales increased by 13 percent compared to the same time last year.