Economy
Current account deficit at 624.1 mln in October as goods balance worsens
Greece’s current account (C/A) balance recorded a deficit of 624.1 million euros in October, worsening compared to the figure from the same time last year when there was a deficit of 267.9 million, Bank of Greece (BoG) figures showed on Thursday.
Industrial turnover grows by 11.1 pct in October, reversing decline of previous month
Greece’s industrial turnover grew by 11.1 percent in October after falling by 0.8 percent in September, according to Hellenic Statistical Authority (ELSTAT) data published on Wednesday.
Number of private sector employees rises in 2017 but wages fall
The annual data from the Labour Ministry’s information system (Ergani) detailed the figures on private sector companies and workers in 2017.
Entrepreneurs show lack of innovation, face many barriers to entry, study suggests
The business environment in Greece continues to pose a challenge for both new and existing entrants according to the Foundation for Economic and Industrial Research’s (IOBE) latest annual report on entrepreneurship in Greece.
Primary cash surplus at 2.33 bln in Nov as expenditure rises, PIB deficit widens
Greece’s central government primary cash balance came to a surplus of 2.33 billion euros in the year-to-date up to November, compared to a surplus of 3.58 billion euros for the same time last year, BoG data revealed.
ECB survey shows enduring preference for cash payments in Greece
A survey by the European Central Bank (ECB) looking into the purchasing habits of Europeans has found that cash is still the preferred method of payment for most Greeks despite efforts to encourage card and electronic payments.
Turnover in services sector shows mixed picture in Q3 2017
Turnover indices for the services sector recorded slight year-on-year improvements in Q3 2017, but declined quarter-on-quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Budget primary surplus at 4.66 bln in 11-month as expenditure falls, revenues rise
The budget primary balance recorded a surplus of 4.66 billion euros in the first 11 months of 2017, decreasing by 19.1 percent against last year’s figure of 5.76 billion euros, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Thursday.
Unemployment rate falls to 20.2 pct in Q3, lowest for almost six years
The Greek non-seasonally-adjusted unemployment rate fell to 20.2 percent in the third quarter (Q3) of 2017 from 21.1 percent in Q2, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Clearer picture emerging ahead of stress tests, banks appear confident
As Greece’s banks gear up for the stress tests at the start of next year, a clearer picture is emerging as the Troubled Assets Review (TAR) is underway and banks are firming up their assessments about the implementation of the new provisioning standards in IFRS 9.