Economy
Budget primary surplus comfortably beats target in May as taxes outperform by 2 bln
The budget primary balance came to a surplus of 2.29 billion euros in May, compared to a deficit of 1.49 billion euros in the same period of 2022, according to the preliminary Finance Ministry (MoF) budget execution data released on Thursday.
Import price index falls for third straight month in Apr as energy prices contract by 35 pct
The contraction of Greece’s import price index accelerated further in April, as it fell by 17.5 percent year-on-year (YoY), after dropping by 12.7 percent in March, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
Wages rise by 7 pct, offset by 7.8 pct 12-month rolling CPI
The Labour Ministry has presented the updated data of wages in the labour market, after the incorporation of the latest rise in the minimum wage to 780 euros per month, effective April 1.
Car sales pick up pace in May, up 13.8 pct in first five months
Road motor vehicles going into circulation for the first time accelerated in May, rising by 5.6 percent year-on-year (YoY), after slowing down to 1.1 percent in April, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday.
Fitch takes no rating action as fiscal continuity remains crucial to investment grade
Fitch took no action on Friday regarding Greece’s rating, re-affirming the country’s ‘BB+’ and keeping the outlook stable.
Industrial production rises by 4.2 pct in April thanks to growth in electricity supply
Greece’s Industrial Production Index (IPI) picked up pace in April, rising by 4.2 percent year-on-year (YoY), after an upwards revised growth of 0.1 percent in March, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
CPI growth stable at 2.8 pct in May, food inflation gathers pace at 11.6 pct
The rise in Greece’s Consumer Price Index (CPI) remained broadly unchanged in May, growing by 2.8 percent year-on-year (YoY), from 3 percent in April, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
OECD ups growth outlook for 2023, warns about headwinds affecting demand and consumption
The OECD has become the latest international organisation to incorporate the more positive outlook for the Greek economy into its projections, revising upwards its growth forecast for 2023, to 1.6 pct, from 1.1 pct in the January estimate.
Trade deficit narrows in April, though exports drop by 4.3 pct
Greece’s trade deficit recorded a significant drop of 22.9 percent year-on-year (YoY) in April, after a modest rise of 1.3 percent in March, according to data released by ELSTAT on Wednesday.
Annual GDP growth slows in Q1, contracts by 0.1 pct QoQ
Greece’s seasonally adjusted (SA) GDP decreased by 0.1 percent quarter-on-quarter (QoQ), from a downward revised 1.1 percent in the last quarter of 2022, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.