Economy
Banks wrap up balance sheet transactions for 2021 on path to slashing NPEs
In the closing weeks of the year, Greek systemic banks have maintained their efforts to tidy up their balance sheets and execute on their business plans, which foresee them reaching single digit NPEs by the end of next year.
Industrial turnover rises by 40.6 pct in Oct
Greece’s industrial turnover remains on a solid footing, jumping by 40.6 percent year-on-year (YoY) in October, from a 39.5 percent rise in September, according to data from the Hellenic Statistical Authority (ELSTAT) released on Monday.
Primary cash deficit almost halved to 7.32 bln in Nov
Greece’s central government recorded a primary cash deficit of 7.32 billion euros up to November, from a deficit of 13.45 billion euros last year, according to figures released by the Bank of Greece on Friday.
End of freeze on layoffs coincides with worst ever hirings balance in Nov
Greece’s employment balance remained deep in the red in November with 79,129 more departures than hires, from negative 70,048 in October, according to data from the Labour Ministry’s Ergani information system.
Wage growth halves to 1.2 pct in Q3
Greece’s seasonally adjusted (SA) Wages Index increased by 1.2 percent year-on-year (YoY) in the third quarter (Q3) of this year, from a 2.5 percent rise in Q2, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Loans managed by servicers rise by 10.44 bln in Q3 as banks clean up balance sheets
In the third quarter (Q3) of 2021, loans managed by Credit Servicing Firms (CSF) stood at 72.2 billion euros, according to data released by the Bank of Greece (BoG) on Thursday.
Buoyed by improved tax revenues, budget deficit comfortably beats target at 7.88 bln in Nov
The budget primary balance for the eleven months of the year landed at a deficit of 7.88 billion euros, compared with a deficit of 13.47 billion in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Wednesday.
Vehicle sales up 20.7 pct in Nov, boosted by jump in purchases of used cars
Road motor vehicles going into circulation for the first time rose by 20.7 percent year-on-year in November, doubling from the 10.4 percent in October, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
Unemployment rate broadly stable at 13.3 pct in Oct
Greece’s seasonally adjusted (SA) unemployment rate stayed broadly stable in October at 13.3 percent, from 13 percent in September, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
High participation in bond swap provides end of year boost
The Public Debt Management Agency (PDMA) announced on Tuesday the preliminary results of the bond swap offer that it announced last week, giving Greece’s debt managers one more confidence boost this year.