Economy
Athens waits for credit rating upgrade as 10-year yield drops to new low
There has been a continuous flow of positive messages from the sovereign debt market for Greek authorities as strong demand for Greece’s public debt keeps pushing borrowing costs down.
Travel balance up by 14.4 pct in August, 8-month receipts show rise of 13.6 pct
Greece’s travel balance rose to 3.93 billion euros in August from 3.43 billion a year ago, Bank of Greece (BoG) data has shown. This is equal to an increase of 14.4 percent year-on-year (YoY).
Banks enter final quarter with high hopes for bad loan reduction while challenges remain
Greece’s banks entered the final quarter of the year with several key developments on the front of reducing their bad loan pile.
ELSTAT confirms third consecutive year or fiscal surplus in 2018
The Hellenic Statistical Authority (ELSTAT), announced on Monday the fiscal data for the period between 2015 and 2018 in the context of the second Excessive Deficit Procedure (EDP) notification of 2019.
Current account balance shows surplus of 1.87 bln in August
Greece’s current account (C/A) balance came to a surplus of 1.87 billion in August, rising from a surplus of 1.27 billion in July, according to Bank of Greece (BoG) figures released on Monday.
Industrial turnover falls by 8.1 pct in August
Greece’s industrial turnover dropped by 8.1 percent year-on-year (YoY) in August following an upward revised increase of 4.8 percent in July, Hellenic Statistical Authority (ELSTAT) data published on Friday showed.
Primary cash balance surplus at 3.94 bln in September
Greece’s central government primary cash balance recorded a surplus of 3.94 billion euros in the first nine months of the year according to figures released by the Bank of Greece (BoG).
IMF revises fiscal outlook, sees lower primary surpluses in coming years
Following the publication of its global forecasts in the World Economic Outlook, the International Monetary Fund (IMF) released its Fiscal Monitor ahead of the autumn meetings due to take place in Washington this week.
Authorities aim to collect up to 11 bln after strong uptake in overdue tax scheme
The scheme to allow taxpayers to settle their debts in 120 instalments attracted over 1.2 million applications, government officials have said.
Athens buoyed by conclusion of budget talks but IMF lowers growth forecasts
The government submitted to the European Commission on Tuesday the draft 2020 budget after negotiations over the fiscal gap reportedly concluded successfully but, at the same time, the International Monetary Fund issued an indirect warning that Greece’s growth prospects for the coming years will be weaker than expected.