Economy
Tourism accounts for 27.3 pct of Greek GDP in total, study shows
A study by the Greek Tourism Confederation (INSETE) has indicated that tourism was worth over one quarter of Greece’s GDP in 2017.
Trade deficit falls by 23.1 pct in March on growing exports, falling imports
Greece’s trade deficit shrank by 23.1 percent in March, building momentum on February’s fall of 16.6 percent, according to data from the Hellenic Statistical Authority (ELSTAT) released on Tuesday.
Concern over prior actions grows, debt talks approach crucial juncture
The race to complete as many of the fourth review’s 88 prior actions as possible in the coming days is dominating the Greek government’s agenda, although what will follow the conclusion of the programme also seems to be on the mind of coalition officials.
New overdue taxes up by 776 mln in March, total stock at 101.44 bln
Greece’s new tax debt increased by 776 million in March following a rise of 2 billion euros in February, data from the Independent Authority of Public Revenues (IAPR) revealed on Monday.
Audit launched as Folli Follie's glittering performance scrutinised
The Hellenic Capital Market Commission (HCMC) is launching an audit on Folli Follie Group after stocks from the Greek jewellery and fashion accessory designer and retailer closed 30 percent down on their opening price on Friday following allegations by an equity fund about the company’s accounting accuracy.
Athens and creditors place immediate focus on remaining key deliverables
The drama-free announcement of the bank stress test results on Saturday cleared the way for Greece and the institutions to focus on the completion of the fourth review in the coming weeks.
Bank stress tests find no capital needs, clearing path for MoU exit
The European Central Bank’s (ECB) Banking Supervision announced on Saturday the results of the 2018 stress tests for Greece’s four systemic banks following the same methodology and approach as the EU-wide EBA exercise.
Tsakalotos eyes conclusion of review and debt talks, will not dispute pension cuts
The Greek government remains confident about concluding the fourth review on time and does not intend to attempt to argue with its creditors that the pension cuts lined up for next year should be postponed.
General govt primary cash surplus at 2.58 bln in March as revenues rise
Greece’s general government (gg) primary cash surplus amounted to 2.58 billion in the first three months of 2018, up 519 million euros compared to the same time last year, according to the Finance Ministry’s monthly gg bulletin.
EC forecast acknowledges pressure on Greek households, revises down growth
The European Commission (EC) had to revise its growth estimates for Greece in its Spring 2018 forecasts and is now expecting the country to grow this year by 1.9 percent, from 2.5 percent previously.