Economy
Eurosystem funding falls 8.6 bln in June in aftermath of waiver reinstatement
Greek banks’ Eurosystem funding dropped by a notable 8.57 billion euros in June, following a decrease by 3.86 billion in May, Bank of Greece's (BoG) monthly financial statement displayed on Wednesday.
New tax arrears climb by 1.25 bln in May, total stock rises to 89 bln
Greece’s new unpaid taxes rose by a notable 1.25 billion euros in May, which is a much faster pace compared to the increase of 694 million recorded in April, General Secretariat of Information Systems (GSIS) data showed on Tuesday.
Stournaras eyes easing of capital controls, updates on loan quality and NPL reduction targets
Appearing before Parliament’s economic affairs committee on Monday Bank of Greece (BoG) Governor Yannis Stournaras presented the organisation’s monetary policy report, which was released a month ago, and provided an update on Greek banks’ loan quality as well as unveiling a series of proposals for easing capital controls
Building activity decreases at slower pace of 5.3 pct in April
Greek building permits fell by 5.3 percent in April after an 11.5 percent drop in March, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Industrial production up again in May with 2.9 pct increase
Greece’s industrial production continued its rebound in May, posting an increase of 2.9 percent compared to a sharp drop of 4.3 percent in May 2015, ELSTAT data showed on Monday.
Lenders flag up minimum wage, trade union law among issues to be examined in next review
In a 21-page report that was submitted by the institutions to the Labour Minister Giorgos Katrougalos at the end of June and was leaked by Greek daily Eleftheros Typos on Sunday, the country’s lenders detail their proposals on the labour market reforms, which would form the base of discussions in the context of the second programme review.
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF sets out key priorities for Greece, including labour market flexibility
In its staff report for the 2016 article IV consultation on euro area policies released on Friday, the International Monetary Fund highlighted labour market flexibility, strengthening competition and improving business environment as the key reform priorities for Greece.
Greek stocks fall 1.4 pct during week as trading volumes plummet
The Greek equity market slipped 1.4 percent in the first week of July mainly due to a negative performance in the first two sessions of the week, while the succeeding rebound was not enough to erase earlier losses.
Trade deficit climbs for second straight month in May, rising by 12.5 pct
Greece’s trade deficit continued heading north for the second straight month, albeit at a slower pace, increasing by 12.5 percent in May after a 21 percent rise in April, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Car sales fall 2.5 pct in June after impressive growth in preceding two months
The number of road motor vehicles (going into circulation for the first time) fell by 2.5 percent in June after an impressive growth of 33 and 24.5 percent respectively in the preceding two months, Hellenic Statistical Authority (ELSTAT) data showed on Friday.