Economy
BoG reveals medium-term economic forecasts, sees growth of 2.5 pct next year
The Bank of Greece (BoG) disclosed for the first time in its monetary policy report published on Wednesday its detailed medium-term (until 2018) macroeconomic forecasts.
Five-month budget primary surplus of 2.27 bln, revenues outperform in May
Greece’s budget primary surplus stood at 2.27 billion euros in the 5-month period of 2016 up by more than 50 percent from last year’s figure of 1.51 billion, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Thursday.
Unemployment up for second straight quarter to 24.9 pct in Q1
The Greek non-seasonally-adjusted unemployment rate rose for the second successive quarter to 24.9 percent in Q1 of 2016 from 24.4 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
BoG proposes debt relief measures and lower primary surplus target from 2018
In its monetary policy report published on Wednesday, the Bank of Greece (BoG) suggested a set of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent of GDP from 3.5 percent from 2018 onwards.
NBG completes sale of Finansbank to Qatar National Bank
NBG announced on Wednesday afternoon the transfer of its 99.81 percent stake in the Turkish Finansbank to Qatar National Bank (QNB).
Turnover in services sector deteriorates in Q1
The majority of the turnover indices for the services sector fell year on year in the first quarter (Q1) of 2016, Hellenic Statistical Authority (ELSTAT) figures displayed on Wednesday.
Hirings outpace job departures by 76,591 in May for fourth positive monthly balance in a row
The employment balance displayed net hirings of 76,591 in May 2016, down by 9,555 compared to the corresponding period last year, the Labour Ministry’s information system (Ergani) data showed on Wednesday.
BoG cautions on impact of tax rises, updates on rising NPEs
In its monetary policy report released on Wednesday, the Bank of Greece (BoG) says that it expects the completion of the first programme review will restore confidence, boost liquidity and improve the investment environment in the second half of the year, while a marginal recession of 0.3 percent is foreseen for 2016.
Eurosystem funding drops by another 3.9 bln in May, ELA down 2.1 bln
Greek banks’ Eurosystem funding fell again in May for the 11th successive month, declining by 3.86 billion euros after a 1.88 billion drop in April, Bank of Greece's (BoG) monthly financial statement showed on Monday.
Building activity falls by 11.5 pct in March for third straight decline
Greek building permits decreased by 11.5 percent in March at a slightly slower pace compared to the drop of 12.2 percent recorded in February, Hellenic Statistical Authority (ELSTAT) figures showed on Monday.