Economy
Draft budget maps out narrow fiscal path for coming years
The new fiscal reality that the Greek government will have to deal with was set out in black and white in the draft budget for 2025, which was tabled to Parliament on Monday in the wake of the medium-term fiscal-structural plan (MTP) being presented by the Finance Ministry last week.
Led by sharp drop in purchases of new vehicles, car sales decline by 5.6 pct in Sep
Road motor vehicles going into circulation for the first time rose by 4.4 percent year-on-year (YoY) in September, after a drop of 5.8 percent in August, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Growth of industrial production moderates to 3.1 pct YoY in Aug
Greece’s Industrial Production Index (IPI) grew in August by 3.1 percent year-on-year (YoY), after a 9.9 percent increase in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Sep CPI almost unchanged at 2.9 pct, food inflation rises above headline number again
The growth in Greece’s Consumer Price Index (CPI) was virtually unchanged in September with a rise of 2.9 percent year-on-year (YoY), after an increase of 3 percent in the previous month, according to the data released on Thursday by the Hellenic Statistical Authority (ELSTAT).
Trade deficit reaches 22 bln in 8M as exports continue to slide
Greece’s trade deficit recorded a drop of 6.5 percent year-on-year (YoY) in August, after a rise of 6.6 percent in July, according to data released by ELSTAT on Tuesday.
Draft budget for 2025 sees 2.3 pct growth and strong primary surplus
The draft budget for 2025 was tabled in Parliament on Monday, with the main parameters in line with the medium-term fiscal-structural strategy (MTS) that was presented by the government last week.
Sale of 10 pct stake in NBG ups taxpayer losses from banks to 34 bln
The latest divestment from the banking sector by the Greek state was completed on Thursday when the book closed for the placement of a 10 pct stake in National Bank of Greece (NBG).
Data underlines Greece still has big wage gap to bridge
The issue of Greeks’ wages and spending power has become a thorn in the government’s side - aside from some data and research that place Greece at the bottom of EU tables in terms of real wages and purchasing power parity, the current administration has repeatedly pledged a rise of the average wage in Greece to 1,500 by the end of the term, currently standing just above 1,200 euros.
Aug hiring balance improves annually, 8M up by 18,350 jobs
Greece’s employment balance improved year-on-year in August, with 5,081 more departures than hires, according to data from the Labour Ministry’s Ergani information system.
Unemployment edges down to 9.5 pct in Aug
Greece’s seasonally adjusted (SA) unemployment rate remained below the 10 percent mark in August, dropping to 9.5 percent, from 9.9 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.