Economy
DBRS leaves Greece a notch from investment grade, outlook stable
DBRS announced on Friday that it is keeping Greece’s rating unchanged at BB (High) with a stable outlook, one notch below the agency’s investment grade rating.
Industrial production up by 0.5 pct in Jan, electricity supply drops
Greece’s Industrial Production Index (IPI) turned marginally positive in January, growing by 0.5 percent year-on-year (YoY), after falling by 1.4 percent in December, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Trade deficit drops 21.9 pct YoY in Jan, reflecting base effects
Greece’s trade deficit opened 2023 with a drop year-on-year (YoY), falling by 21.9 percent, after a drop of 10.6 percent in December, according to data released by ELSTAT on Friday.
Eurobank net profit jumps 4x to 1.33 bln in 2022, NPE ratio at 5.2 pct
Eurobank posted an adjusted net income of 1.17 billion euros in the full 2022, compared to a profit of 424.3 million euros in the previous year.
Q4 GDP grew by 1.4 QoQ, 2022 GDP rose 5.9 pct
Greece’s seasonally adjusted (SA) GDP increased by 1.4 percent quarter-on-quarter (QoQ) at the close of 2022, from a rise of 0.4 percent in Q3, after the previous drop by 0.5 percent was revised upwards, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
Jan delivers most negative hiring balance since 2017
Greece’s employment balance turned negative in January, with 27,611 more departures than hires, according to data from the Labour Ministry’s Ergani information system.
Unemployment drops to 10.8 pct in Jan, lowest since debt crisis began
Greece’s seasonally adjusted (SA) unemployment rate experienced a notable drop in January, falling to 10.8 percent, from an upwards revised 12.4 percent in December, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Budget beats target in Jan, boosted by 49 pct YoY jump in taxes on goods and services
The budget primary balance in January was confirmed to be a surplus of 2.77 billion euros, compared to a surplus of 15 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
Credit expansion for private sector grows 5.7 pct YoY in Jan, but flow turns negative
Credit movement in the Greek private sector slightly decelerated in January but still recorded a solid rise of 5.7 percent year-on-year (YoY), from 6.3 percent in December, Bank of Greece (BoG) figures released on Tuesday showed.
Deposits drop by 4.5 bln in Jan, reversing previous month's marked increase
The net private sector deposit movement in the Greek banking system dropped by 4.5 billion euros in January, reversing December’s impressive rise, when it jumped by 5 billion euros, based on the latest Bank of Greece (BoG) figures released on Tuesday.