Economy
Government hails rising wage data, but full picture tells more complex story
The issue of wages resurfaced in the public debate last week after the government launched a communication offensive and briefed the Greek media that, based on Eurostat data, incomes in Greece have significantly improved.
Building activity records another sharp drop of 21.9 pct YoY in Feb
Building activity recorded another sharp drop at the start of 2025 with a decrease of 21.9 percent year-on-year (YoY) in February, after a drop of 17 percent in January, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Wednesday.
Consumer confidence rises sharply by 4 points in May, other components drop
Greece’s economic sentiment (ESI) was broadly stable in May at 107 points, from 107.4 in the previous month, according to European Commission figures released on Tuesday.
Solid taxes and restrained spending push primary surplus to 5.15 bln by Apr
The budget primary balance was confirmed at a surplus of 5.15 billion euros by April, compared to a surplus of 3.28 billion euros in the same period a year earlier, according to the final Finance Ministry (MoF) budget execution data released on Monday.
Q1 travel receipts up 4.4 pct YoY, arrivals also on the rise
Greece's travel balance recorded a surplus of 220.9 million euros in March, compared to 90 million euros in February, according to data released by the Bank of Greece (BoG) on Thursday.
Current account deficit widens to 3 bln in Mar, at 4.47 bln in Q1
Greece’s current account recorded a deficit of 3 billion euros in March, from a deficit of 2.49 billion euros in February, Bank of Greece (BoG) data released on Wednesday showed.
Public debt at 402.11 bln in Q1, total cash reserves exceed 40 bln
Greece’s central government debt recorded a drop of roughly 1.8 billion euros to 402.11 billion euros in Q1 2025, the Finance Ministry's (MoF) debt bulletin showed on Tuesday.
Sharp drop of 5.1 pct in March industrial turnover driven by refined petroleum products
Greece’s industrial turnover dropped sharply in March, with a decline of 5.1 percent year-on-year (YoY), from a marginal 0.3 percent decrease in February, according to data released by the Hellenic Statistical Authority (ELSTAT) on Tuesday.
Macro and fiscal outlook for Greece remain favourable in latest EC forecasts
The European Commission published on Monday its latest spring forecasts, which leave the macro and fiscal outlook for Greece broadly unchanged from the previous estimates, with the Greek economy seen outperforming eurozone growth by some margin.
Fitch leaves rating unchanged at 'BBB-', ups outlook to positive
On Friday, Fitch became the latest leading rating agency to publish a rating review for Greece, keeping the rating unchanged at ‘BBB-‘, the first step of the investment grade, while the outlook was revised up from stable to positive.