Economy
Study proposes higher public spending to counter expected rise in NPLs
The Centre of Planning and Economic Research (KEPE) has released an analysis of the impact of the coronavirus on Greece’s non-performing loan market.
Greece heads back to markets with 7-year bond in bid to boost own funds
Greece wants to signal to international markets that despite the heavy toll the pandemic is expected to inflict on the Greek economy, it can move ahead with its debt strategy.
IMF sees 2020 GDP contraction at 10 pct, budget deficit at 9 pct due to virus impact
The IMF released on Tuesday its latest economic estimates in the context of the World Economic Outlook, which has incorporated the impact of what it calls The Great Lockdown that sees global GDP dropping by 3 pct in 2020, subject to various uncertainties.
Banks look for way forward as economic shutdown takes its toll
Greeks banks are facing a complicated challenge in the face of coronavirus as their efforts to reduce NPLs have come to a standstill.
Covid-19 impact on tourism sector set to be extensive, report suggests
The research arm of the Association of Greek Tourism Enterprises (INSETE) has conducted a study to estimate the impact of the coronavirus on the country’s vital tourism industry.
Building permits increase by 55.7 pct in January
Building permits rose by 55.7 percent year-on-year (YoY) in January compared to a rise of 50.3 percent percent in December, Hellenic Statistical Authority (ELSTAT) data released on Monday showed.
Greece braces for deeper Covid-19 impact on economy, budget and public debt
The Finance Ministry is gradually accepting that the impact of Covid-19 in Greece will exact a heavy toll on the economy and the budget, with implications for the country’s public debt.
CPI unchanged in March YoY, rises by 1.6 pct MoM
Greece’s Consumer Price Index (CPI) was unchanged year-on-year (YoY) in March compared to a slight increase of 0.2 percent in February, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Worst ever negative employment balance recorded in March as virus measures hit
The employment balance turned sharply negative in March with 41,903 more firings than hirings, data from the Labour Ministry’s Ergani information system showed.
Greece takes stock of measures to mitigate Covid-19 impact after Eurogroup reaches deal on latest batch
After more lengthy negotiations, eurozone finance ministers arrived at an agreement on Thursday night to add to the measures that have already been announced to combat the economic impact of Covid-19.