Economy
Budget continued to outperform in Feb, delivering 3.4 bln primary surplus
The budget primary balance recorded a surplus of 3.4 billion euros in February, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Friday.
Wages index rises by 5.5 pct YoY in Q4, records first quarterly drop since Q3 2021
Greece’s seasonally adjusted (SA) Wages Index maintained a solid growth trend in Q4, rising by 5.5 percent year-on-year (YoY), thought it slowed down from an upwards revised 6.3 percent in the third quarter of 2023, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Import prices reach one year of contraction with 6.4 pct drop in Jan
Greece’s import price index stayed in contraction in January, falling by 6.4 percent year-on-year (YoY), after dropping by 8.7 percent in December, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Vehicle sales rise by 17.3 pct in Feb, led by passenger cars
Road motor vehicles going into circulation for the first time had a strong growth rate of 21.2 percent year-on-year (YoY) in February, after an 8.6 percent rise in January, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
NBG net interest income jumps 65 pct in 2023 to 2.26 bln as net profit reaches 1.2 bln
National Bank of Greece (NBG) reported a core profit after tax of 1.2 billion euros in 2023, compared to a profit of 474 million euros in 2022, a significant rise year-on-year.
First round of HFSF's divestment from systemic banks concludes with 28 bln realised losses
The Hellenic Financial Stability Fund (HFSF), which was set up at the start of the debt crisis to support the banking sector, completed last week the first round of sales of its stakes in the four systemic banks, realising record losses for the Greek state.
Underwhelming GDP highlights investment falling short of mark
The signs that the Greek economy has been slowing were evident in previous GDP releases for 2023, as minor movements were recorded during the year and, after the latest revision, the first quarterly drop was seen in Q3. There was a minor 0.1 pct contraction, not seen since Q2 2020 when the pandemic dealt a serious blow to the economy.
Industrial production grows by 10.3 pct in Jan, boosted by electricity supply
Greece’s Industrial Production Index (IPI) accelerated further in January, growing by 10.3 percent year-on-year (YoY), after a 4.5-percent rise in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Trade deficit rises by 2.7 pct in Jan, as exports continue to fall sharply
Greece’s trade deficit recorded a rise of 2.7 percent year-on-year (YoY) in January, after a decline of 11.3 percent in December, according to data released by ELSTAT on Friday.
CPI at 2.9 pct in Feb, food prices up by 6.7 pct
The growth in Greece’s Consumer Price Index (CPI) slowed down marginally in February, with a rise of 2.9 percent year-on-year (YoY), after an increase of 3.1 percent in January, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).