Economy
Employment balance positive by 37,568 in June, reflecting uptick in seasonal hires
The employment balance was positive with 37,568 more hirings than firings in June, data from the Labour Ministry’s Ergani information system showed.
Overdue social security contributions rise to 36.32 bln in Q1
The stock of unpaid social security contributions (SSCs) increased to 36.32 billion in the first quarter (Q1) of 2020 by 932 million compared to the figure of 35.38 billion euros registered in the fourth quarter (Q4) of 2019, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
General govt primary cash deficit of 4.84 bln in May, arrears drop by 163 mln
Greece’s general government (gg) primary cash deficit came to 4.84 billion euros in the first five months of the year compared to a surplus of 1.69 billion in the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Overall loan interest rate drops to 4.23 pct in May
The overall weighted average interest rate on all new loans to households and non-financial corporations rose by 18 basis points (bps) to 4.23 percent in May from 4.05 percent in April, data from the Bank of Greece (BoG) showed on Friday.
Alpha seals bad loans sale deal, lenders brace for NPE management in Covid-19 era
Alpha Bank announced on Wednesday that it had entered into a binding agreement for the disposal of a mixed pool of NPEs to Greek SMEs secured by real estate assets, code named Neptune.
New tax debt at 2.21 bln to Mar, up by 545 mln month-on-month
The month-on-month rise in Greece's new tax debt came to 545 million euros in March, data from the Independent Authority of Public Revenues (IAPR) has shown.
PMI rises to 49.4 points in June as manufacturing resumes
Greece’s manufacturing PMI increased to 49.4 points in June from 41.1 points in May, according to the latest data from Markit PMI.
Retail turnover drops by 24.7 pct in April, volume also down by 24.8 pct
Greece’s retail sales index decreased sharply by 24.7 percent in April following an upward revised drop of 0.7 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
BoG highlights how Covid-19 compounds legacy issues and structural challenges
The Bank of Greece (BoG) published its Monetary Policy Report for 2020 on Monday, outlining the numerous challenges that the pandemic will pose on the Greek economy, public finances and the banking system.
Economic sentiment at 87.6 in June, consumer confidence & construction show recovery
Greece’s economic sentiment (ESI) fell by 0.9 points month-on-month in June to reach 87.6 points, European Commission (EC) figures showed on Monday.