Economy
Budget primary surplus confirmed at 831 mln in Feb
The budget primary balance recorded a surplus of 831 million euros in the first two months of 2020, compared to a surplus of 822 million noted in February 2019, the Finance Ministry (MoF) budget execution bulletin confirmed on Thursday.
E-commerce businesses report drop in sales due to Covid-19
The impact of the coronavirus, which has led to the shuttering of most retail stores, has also prompted a sharp drop in online sales according to a new survey.
Tourism industry braces for outcome of gloomy Covid-19 scenarios
As the impact from the coronavirus spreads across Europe, the consequences are already being felt across Greece’s vital tourism sector with fears growing that the summer season could be lost.
Travel balance surplus up by 27 pct in January to 80.2 mln
Greece’s travel balance rose to a surplus of 80.2 million euros in January according to Bank of Greece (BoG) data released on Monday, representing a rise of 27 percent year-on-year (YoY).
Covid-19 presents new, significant challenge in banks' effort to reduce NPLs
The Greek banking system entered the new year with positive momentum for tackling the stock of non-performing exposures (NPE) after the Hercules asset protection scheme (APS) was launched, but the four weeks since the outbreak of the virus in Greece have brought the economy to a standstill and raised concerns about a new generation of bad loans.
BoG sees broad economic impact from Covid-19, wiping out 2020 growth prospects
The Bank of Greece (BoG) published on Friday the governor’s annual report for 2019, which – understandably – is dominated by the impact of Covid-19 on the Greek economy, leading to the central bank revising its forecasts for the economy in 2020, when it expects no growth at all.
Industrial turnover rises by 5.7 pct in January
Greece’s industrial turnover increased by 5.7 percent year-on-year (YoY) in January compared to a rise of 11.3 percent in December, Hellenic Statistical Authority (ELSTAT) data published on Friday showed.
Current account shows deficit of 1.29 bln in January
Greece’s current account (C/A) balance posted a deficit of 1.29 billion euros in January, from a deficit of 540.3 million in December, according to Bank of Greece (BoG) data released on Friday.
Govt extends 800-euro bonus, heralds loan payment holiday for individuals as well as firms
Only two days after announcing economic measures of up to 2 billion euros to support businesses and employees, while also making another 1.8 billion euros of European Union funds available, ministers unveiled further interventions on Friday.
Titan Cement net profits drop by 5.5 pct in 2019
Titan Group’s full-year financial results for 2019 showed that revenues increased by 8 percent across the full year.