Macroeconomy
General govt primary cash deficit at 5.49 bln in Aug, arrears up by 172 mln
Greece’s general government (gg) primary cash deficit came to 5.49 billion euros in the first eight months of the year compared to a surplus of 2.78 billion in the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Draft budget sees EU funds fuelling recovery of 7.5 pct in 2021, after 8.2 contraction this year
The Finance Ministry tabled in Parliament on Monday the draft budget for 2021 in which the Greek authorities see a substantial recovery next year that will offset most of the losses suffered in 2020 due to the pandemic.
PMI rises to 50 points in September, signalling stabilisation
Greece’s manufacturing PMI increased to 50 points in September from 49.4 points in August, according to the latest data from Markit.
Retail turnover drops by 3 pct in July for fifth straight negative reading
Greece’s retail sales index decreased by 3 percent in July following a downward revised drop of 3.3 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Consumer confidence drops by 6 pts as economic sentiment declines in September
Greece’s economic sentiment (ESI) dropped by 1.2 points month-on-month in September to reach 89.5 points, European Commission (EC) figures showed on Tuesday.
Budget primary confirmed at deficit of 5.48 bln in August
The budget primary balance recorded a deficit of 5.48 billion euros in the first eight months of 2020, compared to a surplus of 2.91 billion noted in August 2019, the final Finance Ministry (MoF) budget execution bulletin for August showed on Friday.
Deposits rise by 421 mln in August as aggregate growth nearly doubles
Net deposit movements in the Greek banking system were positive by 421 billion euros in August, up from inflows of 3.32 billion in July, Bank of Greece (BoG) figures revealed on Friday.
Credit growth in August up by 1.9 pct
Credit movement in the Greek private sector rose by 1.9 percent in August after an increase of 1.5 percent in July, Bank of Greece (BoG) figures showed on Friday.
Apartment prices rise by 4.1 pct in Q2
The rise in the nominal value of apartments in Greece came to 4.1 percent year-on-year (YoY) in the second quarter (Q2) of 2020 from a revised increase of 6.6 percent in Q1 2020, Bank of Greece (BoG) data showed on Thursday.
Travel balance falls by 85.1 pct in July
Greece’s travel balance came to 516.4 million euros in July from 3.47 billion a year ago, Bank of Greece (BoG) data has shown. This is equal to an decrease of 85.1 percent year-on-year (YoY).