Economy
Fifth post-MoU review concludes successfully, EC highlights public investment, NPLs as areas of concern
As was widely anticipated, since it had been trailed by Economic Affairs Commissioner Paolo Gentiloni during his recent visit to Athens, Greece’s fifth post-programme review was successfully completed with a positive report published by the European Commission on Wednesday.
Hercules NPL reduction scheme receives first application from Eurobank
The Greek government’s Hercules scheme for reducing bad loans on the books of the country’s four systemic banks received its first application on Tuesday from Eurobank.
Ministry urges borrowers to apply for home protection before scheme expires
In an effort led by Finance Minister Christos Staikouras, the government is intensifying efforts to have as many borrowers covered before the current primary residence protection scheme expires on April 30.
EU main destination for exports in 2019, fuel and pharmaceuticals lead way
Greece enjoyed a record year for exports in absolute terms according to research released by the Panhellenic Exporters Association (PSA) combining data from the Hellenic Statistical Agency (ELSTAT).
Primary cash surplus at 132 mln in January
Greece’s central government primary cash balance recorded a surplus of 132 million euros in January according to figures released by the Bank of Greece (BoG).
Travel balance surplus up by 10.9 pct in 2019 as 31.3 mln visitors roll in
Greece’s travel balance rose to a surplus of 42.7 million euros in December according to Bank of Greece (BoG) data released on Friday, representing a rise of 84.6 percent compared to the same time last year.
Hotel industry sees investment in high-end units, but hampered by seasonality
The Greek hotel sector reported strong performance in 2019 with revenues rising by 7.3 percent year-on-year (YoY) according to data presented by the Hellenic Chamber of Hotels (HCH).
PBO sees encouraging signs for economic and fiscal outlook
The Parliamentary Budget Office (PBO) struck a rather positive note in its latest quarterly report as several fiscal and macro fronts are moving in the right direction.
Piraeus Port Authority net profits rise by 27 pct in 2019
The Piraeus Port Authority (PPA) has released its annual financial statement for 2019, which revealed that turnover rose by 12.3 percent year-on-year.
Current account deficit more than halves to 2.57 bln in 2019
Greece’s current account (C/A) balance posted a deficit of 540.3 million euros in December, from a deficit of 1.39 billion in November, according to Bank of Greece (BoG) data released on Thursday.