Economy
Banks make steady progress on improving balance sheets via securitisations
Greece’s systemic banks are moving ahead with efforts to improve their balance sheets, aiming for single digit NPE ratios and profitability next year through securitisations assisted by the extension of the Hercules II APS.
Growth in car sales back up to 6.2 pct in Sept
Road motor vehicles going into circulation for the first time rose by 6.2 percent year-on-year in September, following an increase of 2.7 percent in August, according to Hellenic Statistical Authority (ELSTAT) data released on Monday.
Trade balance worsens as Aug produces 43.3 pct deficit on back of pick-up in non-EU activity
Greece’s trade deficit increased by 43.3 percent year-on-year (YoY) in August, following a 28.9 percent increase in July according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
CPI rises by 2.2 pct in Sept as prices shoot up at highest rate since 2012
Greece’s Consumer Price Index (CPI) continued its march in September, increasing by 2.2 percent year-on-year (YoY), after a 1.9 pct rise in August, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
Industrial production up 10.1 pct in Aug, marking 10-month recovery
Greece’s Industrial Production Index (IPI) rose by 10.1 percent year-on-year (YoY) in August, following an increase of 7.8 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Draft 2022 budget represents first attempt to restore post-pandemic fiscal order
Following two years during which Greece was allowed, thanks to the SGP escape clause, to run substantial deficits to protect its economy from the impact of the pandemic, 2022 sees some sense of fiscal order returning based on the draft budget submitted to Parliament on Monday.
Debt strategy for 2022 set to continue along this year's steady path, assisted by PEPP
Following two years during which the pandemic forced the Greek authorities to provide extensive support packages that pushed up the debt both in nominal terms and as a percentage of GDP, the draft 2022 budget anticipates the debt-to-GDP ratio resuming a downward path.
FinMin tables recovery budget, foreseeing across-the-board improvement in key numbers
The Finance Ministry submitted to Parliament on Monday the draft budget for 2022 in which Greece is seen leaving behind the impact of the pandemic.
Manufacturing growing at steady pace despite supply chain, inflation issues
Greece’s manufacturing PMI dropped slightly to 58.4 in September, from 59.3 points in August, according to Markit data released on Friday.
Retail sales jump 13.3 pct in Jul to extend growth period to four months
Greece’s retail sales growth accelerated in July, rising by 13.3 percent year-on-year (YoY), from an upwards revised 12.2 percent in June, Hellenic Statistical Authority data showed on Thursday.