Economy
Brussels gives Athens thumbs-up for reforms and budget
Greece’s new government managed to successfully clear on Wednesday the first major approval hurdle in its brief tenure as the European Commission (EC) published the fourth post-programme surveillance report, concluding that Greece has taken all the necessary steps to meet its mid-2019 commitments.
Central government debt down to 353.85 bln in Q3, average maturity stable at 21 years
Greece’s central government debt fell by 2.67 billion euros to 353.85 billion euros quarter-on-quarter (QoQ) in the third quarter (Q3) of 2019, from 356.55 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Wednesday.
Current account shows surplus of 886.6 bln in September, aggregate figure almost balanced
Greece’s current account (C/A) balance came to a surplus of 886.6 million in September, dropping from a surplus of 1.87 billion in August, Bank of Greece (BoG) figures released on Wednesday showed.
Ellaktor’s Q3 results show loss of 24.9 mln
The Ellaktor Group of Companies’ financial results for the first nine months (9M) of 2019 showed that turnover fell by 26 percent in the first nine months of the year.
Alpha Bank posts net profits of 4.7 mln in Q3
Alpha Bank reported net profits of 4.7 million euros for the third quarter (Q3) of 2019, falling sharply from net profits of 59.4 million euros in Q2.
Fourlis Group net profits drop to 6 million in 9M
Fourlis Group has reported an increase in sales of 4.2 percent in their nine month (9M) results for 2019.
Industrial turnover edges down by 0.5 pct in September
Greece’s industrial turnover edged down by 0.5 percent year-on-year (YoY) in September following a slightly revised decrease of 8.2 percent in August, Hellenic Statistical Authority (ELSTAT) data published on Tuesday showed.
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF consultation report pinpoints health of Greek banks as central to growth
In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.
Budget primary surplus at 5.76 bln in October as expenditure drops
The budget primary balance recorded a surplus of 5.76 billion euros in the first ten months of 2019, compared to a surplus of 3.81 billion noted in October 2018, the preliminary Finance Ministry (MoF) budget execution bulletin showed on Monday.
OECD report traces change in public spending over a decade
The latest OECD Government at a Glance report for 2019 has illustrated the way in which public spending has changed in Greece across the crisis years.