A scientific paper on Covid mortality in Greece’s hospitals has prompted a fresh round of questioning of the government’s claims of success in handling the pandemic, as well as allegations of concealment over access to official statistics.
Greece’s economic sentiment (ESI) reversed the recent declines and posted a solid rise by 3.4 points in September, moving up to 105.1 points after a marginal drop of 0.1 points to 101.7 in August, according to European Commission figures released on Thursday.
There was a reversal of the recent decline in building permits in June as the number of licences issued rose by 3 percent year-on-year (YoY), after falling by 0.4 percent in May, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Wednesday.
Credit movement in the Greek private sector gathered more pace in August, rising by 5.8 percent year-on-year (YoY), from 5.5 percent year-on-year in July and 4.5 percent rise in June, Bank of Greece (BoG) figures released on Tuesday showed.
Apart from turning a primary deficit into a surplus in what is expected to be a low-growth environment next year, the government is also facing another challenging balancing act as it will have raise social security contributions for the self-employed despite pledging lower levies for employers and employees.
The net private sector deposit movement in the Greek banking system in August slowed down further to 89 million euros, from 483 million euros in July, and a jump of 2.72 billion euros in June, based on Bank of Greece (BoG) figures released on Tuesday.
The latest living conditions published by ELSTAT on Friday shows that poverty resumed an upward trend in 2021 after a series of declines that started in 2014, with 2020 marking the most recent annual low.
As in our previous five monthly blogs, we continue to trace the progress of modern-day Odysseus, who started a long voyage in 2018 to help bring Greece back home to a sustainable and prosperous economy. He is seeking to navigate the winds of a high debt ratio of 185 percent of GDP towards a debt ratio of 60 percent of GDP. The plan that Odysseus had developed in 2018 is described in a book on the macroeconomy of Greece.