Economy
Tourism continues on upward trajectory as latest figures signal record-breaking arrivals
Greece’s tourism industry, which weathered the country’s economic crisis relatively well, has remained a strong revenue generator with aggregate figures for the nine-month (9M) period showing that the year already surpassed arrival predictions.
Increase of 11 pct in minimum wage to have knock-on effect in economy
As was widely anticipated, during the cabinet meeting yesterday Alexis Tsipras announced that the minimum wage in Greece will increase for the first time in a decade to 650 euros per month, from 586 euros currently, effective from February 1.
December deposit inflows hit six-year high of 3.15 bln
Net deposit movement in the Greek banking system turned strongly positive in December with inflows of 3.15 billion compared to outflows of 79.4 million in November, Bank of Greece (BoG) figures revealed on Monday.
Credit contraction at 1.1 pct in Dec, loans to enterprises increase by 1.09 bln MoM
Credit contraction in the Greek market came to 1.1 percent in December compared to a contraction of 1.4 percent seen in November, Bank of Greece (BoG) figures showed on Monday.
Athens poised to unveil new minimum wage as post-MoU review continues
The government is preparing to announce a new minimum wage and the scrapping of the sub-minimum salary for under-25s, just days after talks with the institutions regarding the second post-programme review concluded in Athens.
Primary surplus confirmed at 3.34 bln in Dec, misses annual target by 367 mln
The budget primary balance was confirmed at a surplus of 3.34 billion euros in 2018, according to the final budget execution bulletin for December published by the Finance Ministry (MoF) on Friday.
Institutions wrap up talks with focus on NPLs, primary residences and budget
Discussions between the Greek government and the institutions were due to draw to a close on Thursday, leaving Athens with 2-3 weeks to complete the 16 reforms that are pending as part of the second review of the post-programme era.
Disposable income rises by 4.1 pct YoY in Q3, final consumption grows 1.8 pct
Greek household disposable income grew by 4.1 percent year-on-year (YoY) in the third quarter (Q3) of 2018, growing from the rise of 3.3 percent noted in the previous quarter, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Pension outlay still falling, 40.4 pct of main monthly payments below 500 euros
The Labour Ministry's Computer Centre for Social Security Services (IDIKA) most recent report from the Unified System of Control and Pension Payments (ILIOS), which estimates pension payments on a monthly basis, showed that a total of 4.5 million pensions were paid in September 2018.
Minimum wage increase set for end of January amid concerns about economic impact
Greece’s Labour Ministry is moving ahead with plans to increase the country’s minimum wage between 5 and 10 percent amid calls for caution over such measures.