Economy
Commission gives go-ahead for APS to reduce NPL pile
The European Commission (EC) announced on Thursday that it approved the Greek plan, codenamed “Hercules,” for helping Greek banks remove up to 30 billion euros in non-performing loans from their books.
Unemployment edges down to 16.9 pct, below 17 pct for first time since 2011
Greece’s seasonally adjusted (SA) unemployment rate came to 16.9 percent in July from a slightly upward revised of 17.1 percent in June, Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
Car sales rise by 22.9 pct in September
Road motor vehicles going into circulation for the first time rose by 22.9 percent in September, compared to a rise of 20.2 percent in August, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Greece tugged down in WEF competitiveness ranking by financial system, institutions
The World Economic Forum’s Global Competitiveness Index (GCI) for 2018 has shown that Greece fell two places in a year, standing at number 59.
Reopening of 10-year bond secures record low yield of 1.5 pct
Greece’s Public Debt Management Agency (PDMA) published the details of the country’s fourth syndicated transaction for 2019 which came in the form of the reopening of the 10-year bond maturing in March 2029 that was issued earlier this year.
Trade deficit edges down by 1.7 pct in August
Greece’s trade deficit fell by 1.7 percent year-on-year (YoY) in August compared to a rise of 6.3 percent in July, data from the Hellenic Statistical Authority (ELSTAT) released on Tuesday showed.
Athens sets out debt management strategy for 2020, reopens 10-year bond
The draft budget submitted to Parliament on Monday gives some broad guidelines regarding Greece’s debt management strategy for next year.
Draft budget sets ambitious growth target of 2.8 pct in 2020, plugs fiscal gaps
Greece’s finance ministry tabled to Parliament the draft budget for next year in which Greek authorities see substantially accelerated growth while honouring the target agreed with official creditors of 3.5 percent of GDP primary surplus.
General govt primary cash surplus at 4.35 bln in Aug, arrears up by 270 mln
Greece’s general government (gg) primary cash surplus came to 4.35 billion euros in the first eight months of the year, up by 713 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Court verdict on 2016 pension reform seen having fiscal impact
Rulings from the Council of State just published deem parts of the 2016 pension reform, known as the Katrougalos law, unconstitutional and mean the new government will have to redesign parts of the social security system and incur a reported annual fiscal of around 300 million euros.