Economy
Fitch keeps Greece’s rating at ‘CCC’
Fitch affirmed Greece’s rating at ‘CCC’ in its scheduled rating review published on Friday evening. The rating agency’s baseline scenario is that an agreement will be reached between the Greek government and creditors.
Stocks edge up 0.9 pct, trading activity remains subdued for third straight week
The Greek equity market edged up for the second straight week by 0.9 percent. The initial gains of 2.5 percent in the first two sessions, also in the wake of Monday’s Eurogroup decision, were mitigated thereafter as investors became more concerned after an initial positive reaction.
Budget primary surplus at 1 bln in Jan as tax revenues outperform
The budget primary surplus was confirmed at 1.02 billion euros in the first month of 2017 broadly stable from last year, according to the Finance Ministry (MoF) final budget execution bulletin published on Friday.
BoG sees chance of normality returning if review concludes swiftly
In its annual report published on Friday, the Bank of Greece (BoG) called for a return to normality through the successful conclusion of the second programme review.
Hellenic Petroleum's EBITDA rises 88 pct in 2016
Greece’s largest oil refiner, Hellenic Petroleum’s full year results for 2016 show that for a second year running, the group achieved significantly high results, making up for losses posted in 2013 and 2014.
IMF comments, blog leave no doubt credible debt relief has to be agreed soon
Almost two weeks after the publication of its Article IV consultation report on Greece, including its updated debt sustainability analysis, the IMF published on Thursday evening a blog setting out the Fund’s perspective on dealing with sovereign debt.
Greece forced to revisit prickly subject of pension spending to conclude review
The Greek government is due to resume negotiations with the institutions in Athens on Tuesday, when pension reform is expected to be one of the most prominent and sensitive issues that will be discussed.
Bill for out-of-court workout ready but may need tweaks
The Development Ministry has tabled for public consultation until March 3 the draft law on the out-of-court workout, which is one of the key deliverables of the second programme review and also relates to the non-performing loan (NPL) resolution.
Athens grapples with awkward reduction of tax-free threshold
Discussions between the institutions and Greece, which are due to resume in Athens next week, will, among other issues, focus on plans to reduce the tax-free threshold for personal incomes.
Travel receipts rise 4.7 pct in Dec, 2016 figure down 6.4 pct despite increased arrivals
Greece's travel receipts rebounded by 4.7 percent in December after falling by 13.8 percent in November, Bank of Greece (BoG) figures showed on Tuesday.