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Government scrambles for more cost‑of‑living relief as WSJ revelations open new front
The cost‑of‑living crisis, and in particular the surge in fuel prices, has become the central test of the government’s capacity to deliver tangible relief as it tries to build pre-election momentum.
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Building activity rebounds strongly with 21.5% YoY rise in June
Building activity accelerated in June, with a sharp rise of 21.5 percent year-on-year (YoY), after a marginal drop of 0.8 percent in the previous month, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Monday.
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Government struggles to shape narrative as rising costs compete with positive outlooks
Last week offered the kind of struggle the Greek government has become accustomed to: attempting to convince the public that the economy is performing strongly while simultaneously reacting to developments that intensify the cost‑of‑living crisis.
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Politics
Mitsotakis uses UN stage to project leadership as poll shows dip for ELAS
Prime Minister Kyriakos Mitsotakis used his address to the 81st UN General Assembly on Thursday to present Greece as a stabilising force in a turbulent international environment, combining messages of regional diplomacy, economic resilience and technological caution.
ND divided over arrogance in its ranks, as well as fuel costs and farm payments
PM launches tech “investment marathon” in US as fuel prices dominate domestic agenda
Economy
Credit growth picks up pace in Aug, with 7.1% YoY rise
Credit expansion in the Greek private sector slightly accelerated in August, rising by 7.1 percent year-on-year (YoY), from 6.8 percent the previous month, Bank of Greece (BoG) figures released on Friday showed.
Deposits rise to 224.43 bln, with 2.97 bln inflow in Aug
VAT continues to drive budget performance in Aug, at 1.21 bln above target
Society
OECD warns young Greeks face deep structural barriers to work, family and housing
The latest OECD report on the challenges faced by young people in Greece captures the complex landscape they must navigate and the hurdles they encounter in their efforts to achieve financial independence, find stable employment, start a family and secure housing.
EU report shows Greece entering new era of extreme ageing and population decline
Trust levels fall again as public perceptions trail economic progress
Agora
The making and unmaking of "Greek statistics"
Back in 2010, the term “Greek statistics” became synonymous worldwide with creative fiscal accounting and institutional failure. When Greece faced bankruptcy in late 2009, the international community discovered that the New Democracy government had understated the country’s fiscal deficit.
Magdeburg shocks Berlin
A summer tan can’t obscure Greek economic reality