Budget primary balance confirmed at 495 mln in January
Retail turnover edged up by 0.2 pct in Dec, annual increase at 1.3 pct
Credit contraction unchanged at 0.6 pct in Jan, balance at 153.43 bln
Deposits drop by 2.16 bln in January
Economic sentiment at 113.2 in Feb, strong improvement in services and retail
Primary cash surplus at 132 mln in January
Bank of Greece study finds one in six local firms is strategic defaulter
In a separate section of the interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) discussed the issue of corporate strategic defaulters i.e. companies that have stopped servicing their loans despite having the ability to make the payments.
The study examined a sample of 13,000 firms with outstanding loan obligations of at least 1 million euros each between 2010–2015. The loan stock of that sample stood at 57 billion euros, of which 19 billion were classified as non-performing.
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