Economy
Greek tourism: Hopeful yet uncertain for 2016
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After a bumper tourism year in Greece last year, where an estimated 25 million visitors beat the grim economic climate of the country to visit in droves, the 2016 season has started out painting a more mixed picture.
Hellenic Petroleum beats forecasts with Q1 2016 results
Greece’s largest oil refiner, Hellenic Petroleum, beat forecasts on Wednesday for its Q1 2016 financial results and posted an adjusted EBITDA of 169 million euros, down 17 percent from the same period last year as opposed to the almost 20 percent drop forecast by analysts.
Net job hirings in private sector reach record high of 90,631 in April
The employment balance showed net hirings of 90,631 in April 2016, up by 10,408 compared to the corresponding period last year, according to the Labour Ministry’s information system (Ergani).
Eurozone sets out proposals for staggered debt relief for Greece
The Greek government was encouraged by the public references to debt relief following Monday’s Eurogroup in Brussels, although it was made clear that no real steps should be expected before the next gathering of eurozone finance ministers on May 24 and that any interventions would be spread over time.
Outline of fiscal mechanism for automatic cuts emerges after Eurogroup
The outline of the mechanism that will trigger automatic fiscal interventions to ensure Greece’s programme is on track has emerged following Monday’s Eurogroup in Brussels.
Car sales soar 24.5 pct in April
The number of road motor vehicles going into circulation for the first time surged by 24.5 percent in April after a rise by 2.4 percent in March, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.
Trade deficit shrinks by sizable 23.7 pct in March
Greece’s trade deficit fell sharply by 23.7 percent in March after a 14.3 percent rise in February, the Hellenic Statistical Authority (ELSTAT) said on Tuesday.
Industrial production falls at faster pace of 4 pct in March
Greece’s Industrial Production Index (IPI) dropped at a faster pace of 4 percent in March from a revised 2.5 percent drop in February, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Decline in CPI slows slightly to 1.3 pct in April
Τhe Greek Consumer Price Index (CPI) dropped at the slightly slower rate of 1.3 percent in April from a 1.5 percent decline in March, according to Hellenic Statistical Authority (ELSTAT) data published on Tuesday.
General gov't primary cash surplus widens to 3.2 bln in March, arrears jump to 6.7 bln
Greece’s general government (gg) primary cash surplus almost tripled to 3.22 billion euros in the first quarter (Q1) of 2016 from 1.1 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Monday.