Economy
Despite strong annual growth, flow of loans to enterprises in Aug at lowest since Jan
Credit movement in the Greek private sector gathered more pace in August, rising by 5.8 percent year-on-year (YoY), from 5.5 percent year-on-year in July and 4.5 percent rise in June, Bank of Greece (BoG) figures released on Tuesday showed.
Deposits growth slows to 89 mln in Aug as corporations record back-to-back drops
The net private sector deposit movement in the Greek banking system in August slowed down further to 89 million euros, from 483 million euros in July, and a jump of 2.72 billion euros in June, based on Bank of Greece (BoG) figures released on Tuesday.
Budget primary balance to Aug beats target by almost 6 bln as VAT, income and property taxes drive revenue outperformance
The budget primary balance for the first eight months of 2022 came to a small surplus of 20 million euros, compared to a deficit of 6.38 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Monday.
Tourism jobs tumble in Aug, ending 6-month run of positive hirings balance
Greece’s employment balance moved into deep negative territory in August as there were 32,966 more departures than hires, according to data from the Labour Ministry’s Ergani information system.
PBO sees medium-term risks mounting, despite positive near-term outlook
The Parliament Budget Office (PBO) released on Thursday its latest report, for the second quarter of the year, and notes the relative positive picture in the near-term, despite the uncertain times due to the energy crisis. However, it notes a series of challenges and risks in the medium-term.
Yields rise, but Greek debt still partly shielded from market headwinds
In a global environment of rising sovereign bond yields as key central banks fight inflation with aggressive policy tightening, Greece is facing challenges not because it is a special case, but because the landscape appears to have shifted for the medium-term.
Travel receipts reach 8.55 bln up to July, balance of 7.71 bln beats 2019 record
Greece’s travel balance recorded a surplus of 3.52 billion euros in July, from 2.42 billion euros in June, according to Bank of Greece (BoG) data released on Wednesday.
Despite boost from travel, current account deficit hits 9.74 bln in Jul, up 43 pct YoY
Greece posted a current account (C/A) surplus of 1.1 billion euros in July, from a deficit of 722.9 million euros in June, Bank of Greece (BoG) data showed on Tuesday.
Energy pushes industrial turnover growth up by 38.9 pct YoY in Jul, as index records rare monthly drop
Greece’s industrial turnover remained on a solid growth path in July, jumping by 38.9 percent year-on-year (YoY), from a slightly revised 43 percent in June, according to data released by the Hellenic Statistical Authority (ELSTAT) on Monday.
Moody's, DBRS keep ratings unchanged, leave no doubt that fiscal prudence is key for next moves
Moody’s and DBRS issued on Friday night their scheduled credit reviews for Greece, both leaving the rating and outlook unchanged. This was the most likely outcome given the global challenges and the uncertain times on several fronts.