Economy
New tax debt at 1.67 bln to Feb, up by 1.04 bln month-on-month
The month-on-month rise in Greece's new tax debt came to 1.04 billion euros in February, data from the Independent Authority of Public Revenues (IAPR) has shown.
April sees lowest hiring balance on record as pandemic bites and 233,626 fewer jobs offered
The employment balance edged into positive territory in April with 7,205 more hirings than firings, data from the Labour Ministry’s Ergani information system showed.
Unemployment continued downward course in Feb, falling to 16.1 pct
Greece’s seasonally adjusted (SA) unemployment rate came to 16.1 percent in February from a downward revised reading of 16.2 percent in January, Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021
The European Commission released today its Spring Economic Forecasts, the first official set of numbers since the pandemic outbreak, which point to the EU economies experiencing “a recession of historic proportions this year.”
Banks discuss with govt how to release up to 25 bln in emergency liquidity for businesses
The government has indicated that it is looking for further cooperation from the banking sector to inject liquidity into the country’s business landscape.
Overall loan interest drops to series low of 4.06 pct in March
The overall weighted average interest rate on all new loans to households and non-financial corporations fell by 24 percentage points to 4.06 percent in March from 4.30 percent in February, data from the Bank of Greece (BoG) showed on Wednesday.
PMI crashed to 29.5 points in April during sharpest ever decline
Greece’s manufacturing PMI plummeted to 29.5 points in April from 42.5 points in March, according to the latest data from Markit PMI.
Athens expects emergency economic measures to contain 2020 contraction to 4.7 in baseline
The Greek Finance Ministry published on Sunday night the Stability Programme for 2020 that it submitted to the European Commission, providing the first official assessment of the economic impact the government expects to see from Covid 19 this year, as well as the notable recovery expected next year.
Ellaktor makes loss of 131.4 mln in 2019 after drop in construction sector revenues
The Ellaktor Group of Companies’ financial results for 2019 showed that revenues for the financial year came to 1.27 billion euros compared to 1.86 billion euros for the same time last year, dropping by 31.4 percent.
Jumbo sees net profits rise 14.9 pct in 2019, but warns of difficult year ahead
Greek retailer Jumbo posted its financial results for the operating year of 2019, showing that turnover increased by 7.5 percent.