Economy
S&P downgrades Greece, sees economy shrinking by 1.5 pct in 2015
S&P unexpectedly downgraded on Wednesday Greece’s long- and short-term ratings by one notch to ‘CCC+/C’ from ‘B-/B’ with a negative outlook.
![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 sees Greek growth at 2.5 pct in 2015, debt at 172.7 pct of GDP
In its latest World Economic Outlook (WEO) and Fiscal Monitor reports published this week, the International Monetary Fund revealed its updated forecasts on the key Greek macro and fiscal figures.
Greek Eurosystem funding up by 2.9 bln in March, reaches total of 107.1 bln
After a sharp rise by 16.77 billion euros in February, Greek banks’ Eurosystem funding increased by another 2.93 billion in March, reaching 107.18 billion, according to the Bank of Greece's (BoG) monthly financial statement published on Wednesday.
ELSTAT sees 2014 primary surplus at 0.4 pct of GDP, debt at 177.1 pct
The Hellenic Statistical Authority (ELSTAT) published on Wednesday its first notification regarding the 2014 fiscal data according to the excessive deficit procedure (EDP) under the ESA 2010 standards.
Tax wedge for single, married Greeks well above OECD average
The tax wedge in Greece remained well above the OECD average in 2014, according to the organisation’s Taxing Wages 2015 report published on Tuesday.
General gov't cash surplus sees large contraction in Jan-Feb, arrears edge up
The general government (gg) primary cash balance showed the surplus shrinking by more than two thirds year on year (YoY), landing at 1.02 billion euros in the first two months of 2015 from 3.17 billion in the corresponding period last year, according to the bulletin published by the Ministry of Finance (MoF) on Tuesday.
Credit standards for household, corporate loans unchanged in Q1
The Bank of Greece (BoG) released for the first time on Tuesday the results of the Greek bank lending survey for the first quarter (Q1) of 2015, which involves the four systemic Greek banks.
ECB's negative opinion on foreclosure bill creates another obstacle in bailout talks
There has been no official response from the Greek coalition to the European Central Bank (ECB) publishing on April 10 its opinion on the draft law on the suspension of primary residence foreclosures until the end of 2015.
Unemployment rate at 25.7 pct in Jan, lowest since Aug 2012
The seasonally adjusted (SA) unemployment rate fell to 25.7 percent in January from a downward revised 25.9 percent in December, according to the Hellenic Statistical Agency (ELSTAT).
Rare rebound for industrial production with 1.9 pct rise in Feb
Greece’s Industrial Production Index (IPI) rebounded 1.9 percent in February after a downward revised marginal drop of 0.2 percent in January, according to the Hellenic Statistical Authority (ELSTAT).