Economy
Economic sentiment stable in June, but consumer confidence drops
Greece’s economic sentiment (ESI) remained broadly stable in June at 108.7, following the sharp rise in May by 10.7 points to 108.6 points, according to European Commission figures released on Tuesday.
BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead
The Bank of Greece issued on Monday the Monetary Policy Report for 2020-2021, which was submitted to the Parliamentary Speaker and the Cabinet.
Q1 unemployment at 17.1 pct amid drop in employed, rise in inactives
Greece’s non-seasonally adjusted unemployment rate came to 17.1 percent in the first quarter (Q1) of the year, increasing by 0.9 percentage points from the last quarter of 2020, Hellenic Statistical Authority (ELSTAT) figures showed on Monday.
Budget primary deficit at 8.14 bln by end-May, almost 1 bln off target
The budget primary balance was confirmed at a deficit of 8.14 billion euros in the first five months of the year, compared to a deficit of 4.84 billion in the same period of 2020, the final Finance Ministry (MoF) budget execution bulletin for May showed on Monday.
Credit growth in May slows to 2.2 pct; monthly flow -17 mln
Credit movement in the Greek private sector rose an annual 2.2 percent in May, compared with 2.4 percent in April, Bank of Greece (BoG) figures showed on Friday.
Deposits edged up further as they rose by 359 mln in May
Net deposit movements in the Greek banking system continued to grind higher, increasing by 359 million euros in May, compared with inflows of 3.13 billion euros in April, Bank of Greece (BoG) figures revealed.
Post-Covid era dawns on new landscape for bad debt in Greece
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At the peak of the Greek financial crisis, Greek banks had accumulated over 100 billion euros of bad loans. At the time, almost half of their outstanding loan amounts fell into this category, with borrowers falling behind on their repayments or deemed as being unlikely to pay.
MTFS forecasts growth of up to 6.2 pct in swift economic recovery from Covid
The Finance Ministry submitted to Parliament the latest Medium-Term Fiscal Strategy (MTFS) for the 2022-2025 period, during which a strong economic and fiscal recovery is anticipated following the damage inflicted by the pandemic.
Travel balance almost doubles in April from last year's lockdown
Greece’s travel balance came to a surplus of 9.6 million euros in April from 4.9 million a year ago, when Greece was in its first lockdown, Bank of Greece (BoG) data has shown. This is equal to an increase of 97.5 percent year-on-year (YoY).
Industrial turnover jumps by 52.5 pct in April on base effects
Greece’s industrial turnover rose 52.5 percent from a year earlier in April, compared with a revised increase of 18.5 percent in March.