The energy crisis fuelled by the Ukraine conflict will dominate the attention of Finance Ministry officials in the coming months as uncertainty over supplies during the winter has been priced into natural gas prices, which have reached 160 euros/MWh, creating doubts about the cost of the latest energy subsidy scheme.
Greece’s Manufacturing PMI dropped by 2.7 points in June to 51.1 points, according to S&P Global data released on Friday.
The uncertain times across the global economy were captured in the latest monetary policy report by the Bank of Greece, which revised down its Greek growth forecast to 3.2 pct for 2022, from the 3.8 pct expected in April.
The net private sector deposit movement in the Greek banking system in May stayed positive at 1.31 billion euros, from 1.35 billion euros in April, and negative movement of 989 million seen in March, based on Bank of Greece (BoG) figures released on Wednesday.
Credit movement in the Greek private sector was steady at 3.2 percent year-on-year (YoY) in May, from 2.8 percent in April, and 1.6 percent in March, Bank of Greece (BoG) figures released on Wednesday showed.
Greece’s economic sentiment (ESI) declined by 3.7 points in June, dropping to 104.3 points, following a recovery of 2.9 points in May, according to European Commission figures released on Wednesday.
The budget primary balance for the first five months of 2022 came to a deficit of 1.49 billion euros, compared to a deficit of 8.14 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Monday.
In its latest report covering the first quarter of 2022, the Parliamentary Budget Office (PBO) sees mixed signals for the Greek economy and expects international factors to play a key role in developments in the near term.
Greece’s employment balance continued its recovery in May with 99,956 more hires then departures, according to data from the Labour Ministry’s Ergani information system released on Tuesday.
Greece’s travel balance recorded a surplus of 432.1 million euros in April, from 77 million euros in March, according to Bank of Greece (BoG) data released on Tuesday.