Economy
High expectations and landmarks on road to privatisations in 2018
Greece’s privatisation programme is a key component in the institutions and the Greek authorities’ growth projections as the asset development programme which includes direct sales, concessions, securitisations and other forms of monetisation is expected to contribute to boosting private investment.
Overdue social security debt at 31.87 bln in Q1, debtors at 1.2 mln
The stock of unpaid social security contributions (SSCs) increased to 31.87 billion in the first quarter (Q1) of 2018, rising by 585 million compared to the figure of 31.29 billion euros registered in the fourth quarter (Q4) of 2017, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
Titan Cement turnover falls by 10.9 pct in Q1
Titan Group’s financial results for the first quarter (Q1) of 2018 showed a decline of 10.9 percent compared to the same period last year.
Motor Oil net profits fall 54.5 pct in Q1 on higher costs
Motor Oil Hellas’ financial statement has shown that the group’s revenues increased by 11.1 percent to 2.04 billion euros in the first quarter (Q1) of the year, but net profits declined.
Focus of banking sector commitments shift to NPL reduction, debt restructuring framework
The safeguarding of financial stability is one of the pillars of Greece’s third programme and the Supplemental Memorandum of Understanding (sMoU) has a section dedicated to the banking sector, with the focus on the secondary market for Non-Performing Loans (NPLs), debt restructuring and insolvency procedures and the overall governance of Hellenic Financial Stability Fund (HFSF) and the banks.
No breakthrough on debt talks at Eurogroup but June 21 goal remains
Thursday’s Eurogroup in Brussels failed to deliver a breakthrough on the debt relief talks between Greece’s lenders, although the institutions insist that they are still aiming to deliver a comprehensive agreement by June 21.
Budget primary surplus confirmed at 2.29 bln in April on improved tax collections, lower PIB spending
The budget primary balance was confirmed at a surplus of 2.29 billion euros in the first four months of 2018 compared to a surplus of 1.73 billion for the same period last year, the Finance Ministry (MoF) final budget execution bulletin for April showed on Thursday.
Supplemental MoU sets out path for maintaining fiscal sustainability
A swift staff-level agreement (SLA) was reached between Greece and the institutions last Saturday and the details of the deal were revealed in the Supplemental Memorandum of Understanding (sMoU) was published by the European Commission on Thursday.
Aegean reduces net loss to 30.8 mln in Q1
The first quarter (Q1) results for Aegean Airlines show that revenues increased by 9 percent year-on-year to 165.4 milion.
Fourlis Group improves on net loss in Q1
Fourlis Group, a leading group of companies in Greece and the Balkans for quality consumer durable goods, reported an increase in sales by 8 percent in the first quarter (Q1) of the year.