Greece’s central government primary cash balance showed a surplus of 2.61 billion euros in the 11-month period from deficit of 4 billion in the same period last year, according to the Bank of Greece (BoG).
The evolution of the turnover indices for the services sector showed a further worsening in the third quarter (Q3) of 2014 with 12 out of the 14 service activities recording a drop, according to the Hellenic Statistical Authority (ELSTAT).
Early presidential elections accelerate the risk of early parliamentary elections, which is a credit negative, according to Moody’s latest comment on Greece. Higher risk stems from the high electoral threshold and the coalition government’s presently slim majority in parliament, the ratings agency said.
Greece’s budget execution showed the primary surplus widening by 879 million euros to 3.53 billion in the 11-month period from 2.65 billion in the 10-month, according to the Finance Ministry (MoF) preliminary budget bulletin.
Following a modest drop of 1 percent on Wednesday, the Greek stock market plunged 7.35 percent today amid elevated investor concerns related to developments on the domestic political front.
Τhe number of building permits issued in Greece continued to drop in September, albeit at the slower pace of -11.2 percent compared to -19.9 percent in August, according to the Hellenic Statistical Authority (ELSTAT).
The seasonally adjusted (SA) unemployment rate declined for the seventh straight month in September, when it fell to 25.7 in September from an upward revised 26 percent in August, according to the Hellenic Statistical Agency (ELSTAT).
Greece’s total tax revenues as a percentage of GDP remained virtually unchanged at 33.5 percent in 2013 from 33.7 percent in 2012, according to the latest OECD Revenue Statistics report.
Greek banks’ Eurosystem funding increased for the second straight month in November, when it rose by 1 billion euros, according to the Bank of Greece's (BoG) monthly financial statement on Wednesday.
The possibility of the government failing to elect a president and subsequent snap elections leading to the formation of a SYRIZA or SYRIZA-led government has brought the leftist party's plans for Greek banks into sharp focus.