Economy
Gloomy preliminary results for Aegean as state support talk gathers pace
Greece’s national airline, Aegean Airlines, has sounded the alarm over its first quarter (Q1) results which showed a sharp drop in revenues in the third month of the quarter, dragging the entire quarter down.
BoG governor renews calls for launch of bad bank and ESM use
Bank of Greece governor Yannis Stournaras has reiterated calls for the immediate implementation of Greece’s bad bank to deal with the reduction of NPEs.
April budget primary balance shows deficit of 1.52 bln as state revenues miss target by 7.5 pct
The budget primary balance recorded a deficit of 1.52 billion euros in the first four months of 2020, compared to a surplus of 1.46 billion noted a year earlier, the final Finance Ministry (MoF) budget execution bulletin for April showed on Monday.
Exposure to tourism sector a concern for banks despite effort to save season
As Greece moves to reopen its tourism season, the implications for Greece’s banking sector could be widespread thanks to the loan exposure that Greek banks have to this sector.
Travel balance falls by 53.6 pct in March
Greece’s travel balance fell to 31.6 million euros in March from 68.1 million a year ago, Bank of Greece (BoG) data has shown. This is equal to an decrease of 53.6 percent year-on-year (YoY).
Current account shows deficit of 1.10 bln in March as Covid-19 hits trade & travel
Greece’s current account (C/A) balance posted a deficit of 1.10 billion euros in March compared to a deficit of 1.14 billion in February, Bank of Greece (BoG) data showed on Thursday.
Piraeus Port Authority net profits rise by 27 pct in 2019
The Piraeus Port Authority (PPA) has released its annual financial statement for 2019, which revealed that turnover rose by 12.3 percent year-on-year.
Satisfied with reform commitment and pandemic response, EC wraps up sixth post-MoU review
The European Commission published on Wednesday the sixth report of the post-programme surveillance framework, paving the way for Greece to benefit from another round of debt relief measures.
Industrial turnover drops by 9.3 pct in March
Greece’s industrial turnover fell by 9.3 percent year-on-year (YoY) in March compared to a drop of 2.4 percent in February, Hellenic Statistical Authority (ELSTAT) data published on Wednesday showed.
PBO highlights economic impact of Covid-19, calls for policies to mitigate damage
The Budget office of the Greek Parliament (PBO) issued its first quarterly report for 2020 in which the early signs of the pandemic started becoming visible, although the office notes that even the latest fiscal and macro data are far from capturing the impact of the pandemic.