Macroeconomy
Credit expansion grows by 4.5 pct in Mar, driven by corporations
The credit expansion in the Greek private sector picked up even more pace further in March, rising by 4.5 percent year-on-year (YoY), up from 3.8 percent in February, Bank of Greece (BoG) figures released on Friday showed.
Deposits reverse contraction in Mar with 1.67 bln growth
The net private sector deposits in the Greek banking system increased in March with a rise of 1.67 billion euros, after a 1.07 billion euros drop in February, based on the latest Bank of Greece (BoG) figures released on Friday.
Building permits start year strongly with 15.1 pct rise in Jan
Building permits started the new year strongly with a rise of 15.1 percent year-on-year (YoY), after a modest 0.6 percent increase in December, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday.
March hirings balance hits new high, boosted by seasonal jobs in catering and accommodation
Greece’s employment balance was strong in March, with 63,689 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
Fiscal data for 2023 indicates that 2.1 pct of GDP goal is within reach
In the context of the first Excessive Deficit Procedure (EDP) notification of 2024, the fiscal data for the 2020-2023 period was released by ELSTAT on Monday. The figures contained encouraging signals for the Greek authorities as the fiscal framework becomes tighter and Greece aims to achieve large primary surpluses in the coming period.
Travel balance rises in Feb as arrivals jump by 20.7 pct in first two months
Greece's travel balance recorded a surplus of 111.7 million euros in February, compared to 112.6 million euros in January, according to data released by the Bank of Greece (BoG) on Monday.
Industrial turnover grows by 3.1 pct in Feb, led by mining and domestic market
Greece’s industrial turnover remained in growth in February, rising by 3.1 percent year-on-year (YoY) from a 3.1 percent increase in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Current account records sharp deficit of 3.16 bln in Feb as goods balance deteriorates
Greece’s current account recorded a deficit of 3.16 billion euros in February, from a surplus of 1.7 billion euros in January, Bank of Greece (BoG) data showed on Friday.
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF sees 2024 growth at 2 pct, debt on downward trend due to high primary surpluses
During the Spring meetings held by the International Monetary Fund and the World Bank in Washington this week, the IMF presented its latest global estimates as part of the World Economic Outlook and the Fiscal Monitor.
Government tones down fiscal pledges as tighter framework starts to bite
The tight fiscal framework imposed by the new Stability and Growth Pact rules and Greece's long-standing commitment to primary surpluses above 2 pct of GDP for decades are catching up with the Greek government, as the window that allowed for handouts and support initiatives thanks to the escape clause is now firmly closed.