Economy
Moody’s affirms Greece’s rating at Caa3 with stable outlook
In its scheduled rating review, Moody’s affirmed Greece’s rating at ‘Caa3’ with a stable outlook.
Greek stocks on the rise again, end week 2.1 pct up
The Greek equity market headed north for the second straight week, rising by 2.1 percent, while banks continued to perform well.
Budget primary surplus to Sept reaches 5.45 bln on strong revenue performance
Greece’s budget primary surplus soared 77.5 percent to 5.45 billion euros in the 9-month period of 2016 from 2.27 billion last year, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Friday.
Arrears payments of 915 mln in Aug bring total to 1.4 bln over two months
The government accelerated its efforts to clear arrears in August, when the figure more than doubled to 915 million euros from 440 million in July, according to the Finance Ministry (MoF) bulletin published on Friday.
ELSTAT revises nominal 2015 GDP contraction to 1.3 pct
In its second estimate of the annual national accounts for 2015, the Hellenic Statistical Authority (ELSTAT) revised downward the drop in nominal GDP to 1.3 percent from the 0.9 percent initially announced on March 4.
September drop of 3.1 bln is 15th straight month of decline in Eurosystem funding
Greek banks’ Eurosystem funding fell by another 3.15 billion euros in September after a drop of 4.39 billion in August, Bank of Greece's (BoG) monthly financial statement showed on Thursday.
Countdown to start of second review begins, focus on more reforms
Following the political decision taken at Monday’s Eurogroup regarding the completion of the first review milestones and the disbursement of the sub-tranches, the focus is now shifting towards the second programme review.
Greek Pharmaceuticals: The little pill with big potential
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The Greek pharmaceutical industry has remained a relatively strong sector despite the crisis - it contributes around 2.8 billion euros to GDP annually, according to the Greek government, and is one of the few industries in Greece which expanded its companies and workforce during the crisis rather than reduced it.
Building activity soars 35.4 pct in July mostly reflecting a low base effect
Greek building permits strongly rebounded by 35.4 percent in July, after a drop of 21.7 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Jumbo ends fiscal year with 15.7 pct profit increase
Greek retailer Jumbo has posted its results for the financial year of 2015/2016, showing that group sales increased year on year by 9.4 percent, continuing its strong track record of being one of the few recession-beating companies in Greece.