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Economy
BoG sees 4.2% recovery in 2021, re-emphasises need for bad bank In the governor’s annual report issued on Tuesday, the Bank of Greece maintains its rather positive stance on the Greek economy, while it highlighted the challenges faced by the country’s banking sector.
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EconomyMacroeconomy
PBO sees just 2.7% growth this year, warns about private debt Parliament’s Budget Office (PBO) published on Tuesday its report for the fourth quarter of 2020, also updating its macro estimates for 2021.
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EconomyMacroeconomy
GDP falls 8.2 pct in 2020, but rises 2.7 pct QoQ in Q4 Greece’s seasonally adjusted (SA) GDP rose by 2.7 percent quarter-on-quarter (QoQ) in the fourth quarter (Q4) of 2020 after an upward revised increase of 3.1 percent in the previous quarter, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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EconomyProgramme
In 9th post-bailout review, EC sees reforms slowing due to pandemic The European Commission published on Wednesday the ninth post-programme report in the context of the enhanced surveillance agreed at the end of Greece’s third adjustment programme back in the summer of 2018.
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EconomyMacroeconomy
EC sees big drop for economy in 2020, expects milder recovery of 3.5 pct in 2021 Within the context of its Winter Forecasts, the European Commission gave on Thursday an updated outlook on the performance of EU economies, which suggest Greece suffering a deeper recession last year and slower growth for 2021.
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Economy
Fitch keeps Greece at 'BB' rating as risks remain on horizon As was broadly expected, on Friday night Fitch kept Greece’s credit rating and outlook unchanged, at ‘BB’ and stable.
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Economy
BoG insists on need for bad bank, sees EU funds boosting recovery from 2021 The Bank of Greece tabled its interim monetary policy report for 2020 on Monday, shedding light on how it expects the Greek economy and banking system to develop next year.
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EconomyMacroeconomy
GDP grows by 2.3 pct QoQ in Q3 and drops by 11.7 pct YoY as services exports crash Greece’s seasonally adjusted (SA) GDP showed an increase of 2.3 percent (QoQ) in the third quarter (Q3) of 2020 after a revised decrease of 14.1 percent in Q2 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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Economy
OECD sees heavy hit from pandemic, gradual recovery in 2021 picking up pace in 2022 The OECD has released its latest economic outlook showing that Greece is unlikely to escape a significant economic downturn due to the second wave of the virus.
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EconomyProgramme
Covid-19 leaves Greece facing 200 pct debt-to-GDP ratio in 2021, long road to sustainability The report for the eighth post-programme review published last week included an update of the debt sustainability analysis (DSA) for Greece, the first revision since the one conducted in the context of the fifth review at the start of the year, before the pandemic struck.