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Scant recognition of energy crisis in draft climate law, but EU package may force tougher targets
Greece’s first climate law made its way to Parliament this week, with only minor changes in light of public consultation and the unfolding energy crisis. The legislation was tabled on the same day that the European Commission presented its REPowerEU package aimed at cutting dependence on Russian fossil fuels.
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Public debt jumps by more than 6 bln in Q1, nearing 395 bln in total
Greece’s central government debt increased by more than 6 billion euros in the first quarter of 2022 to 394.55 billion euros, from 388.34 billion euros in the final quarter of last year, the Finance Ministry's (MoF) debt bulletin showed on Thursday.
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Central govt cash balance records surplus of 714 mln in April, improves by 5 bln YoY in first four months
Greece’s central government recorded a primary cash surplus of 714 million euros in April, from a deficit of 2.23 billion euros in the same month of 2021, according to figures released by the Bank of Greece on Wednesday.
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Labour market on mend as March unemployment rate eases to 12.2 pct
Greece’s seasonally adjusted (SA) unemployment rate dropped marginally to 12.2 percent in March, from a slightly downward revised 12.7 percent in February, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
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Podcast - Rising sun: How will PASOK's revival affect Greek politics?
With national elections due in the next 12 months, The Agora podcast takes a closer look at PASOK’s return to the centre stage and what this means for Greek politics.
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Politics
Athens buoyed by content, mood of Mitsotakis trip to Washington
Greek officials seem very satisfied with the results of Prime Minister Kyriakos Mitsotakis’s trip to Washington, which gave the Greek leader an opportunity to raise a wide range of issues.
Mitsotakis underlines geopolitical and ideological links between Greece and US
PM hopes to return from Biden talks with spring in his step
Economy
Incorporating impact of Ukraine war, EC revises growth forecast down to 3.5 pct
In its spring forecasts, published on Monday, the European Commission incorporated the impact of the conflict in Ukraine on the growth outlook for the eurozone, with the Greek growth rate for this year now revised down to 3.5 pct, from the 4.9 pct included in the winter forecast published in February.
Tourism jobs deliver highest April hiring balance on record at 124,365
Resilience evident in Apr budget execution data as taxes beat target by 1.79 bln
Society
From the National Energy and Climate Plan to COP26: What has Greek climate policy learned?
A lot has happened in the two years since Kyriakos Mitsotakis, freshly elected as Greek PM, took to the stage at the UN General Assembly in 2019 to launch “a new, ambitious, national strategy on energy and climate change” for Greece, a strategy which was outlined and quantified in the National Energy and Climate Plan adopted a few months later.
Impact of pandemic, lockdowns reflected in lower household spending during 2020
Short-term fix for electricity bills leaves open questions for green transition strategy
By:
Agora
Where is Odysseus? Part 2 - Uncertainty
We follow up on Blog 16 of April 2022 and continue to be in search of Odysseus, who is aiming to guide the people of Greece back home from a high debt ratio in the economy to a much lower debt ratio. The Odysseus metaphor was developed in the book “The Macroeconomy of Greece” published in 2019 with data through mid-2018.
Greece needs to re-think natural gas policy, starting with demand
Where is Odysseus? Part 1 - Demographics