Economy
Budget primary surplus hits 1.74 bln in 4-month, beating target on strong underspend
The budget primary balance posted a surplus of 1.74 billion euros in the 4-month period of 2017, down by 9 percent from last year’s figure of 1.9 billion, the Finance Ministry (MoF) preliminary budget execution bulletin revealed on Monday.
Q1 GDP down by mild 0.1 QoQ, hinting at impact of drawn-out review
Greece’s seasonally adjusted (SA) GDP fell marginally by 0.1 percent quarter on quarter (QoQ) in the first quarter (Q1) of 2017, after dropping by 1.2 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) flash estimates revealed on Monday.
Govt tables 2018-21 MTFS containing 4.5 bln in measures, sees growth rising from 1.8 pct this year
The government tabled in Parliament on Saturday night the Medium-Term Fiscal Strategy (MTFS) for 2018-2021 as the last article in the 275-page multi-bill containing the measures needed for the conclusion of the second programme review.
Stocks up by 4.7 pct, rising for third straight week
Despite profit taking on Friday, the Greek stock market headed north for the third straight week, climbing by 4.7 percent amid increasing investor confidence about an imminent deal between Greece’s lenders and the conclusion of the programme review.
Building activity falls by 4.2 pct in February
Greek building permits decreased by 4.2 percent in February after a rise of 11.1 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Eurosystem funding down by 535 mln in April, ELA falls for second straight month
Greek banks’ Eurosystem funding continued heading south for the 22nd straight month, albeit the drop of 535 million euros in April is the lowest in this series, Bank of Greece's (BoG) monthly financial statement revealed on Thursday.
OTE's revenues edge up by 0.1 pct in Q1
The Hellenic Telecommunications Organisation’s (OTE Group) Q1 2017 results revealed a small increase in revenue for the quarter compared to the same quarter last year, rising by 0.1 percent to 929 million euros versus 928.5 million euros last year.
Unemployment rate slips to 23.2 pct in Feb, lowest for last five years
Greece’s seasonally adjusted (SA) unemployment edged down to 23.2 percent in February from a downward revised rate of 23.3 percent in January, Hellenic Statistical Authority (ELSTAT) labour force survey revealed on Thursday.
EC lowers growth forecasts, sees fiscal targets within reach
The recovery of the Greek economy is expected to restart this year, largely on the back of improving consumer and investor sentiment, the European Commission (EC) noted in its spring economic forecasts published on Thursday.
Titan Cement turnover rises 7.1 pct in Q1
Titan Group’s financial results for the first quarter of 2017 recorded an improvement largely attributed to the continued recovery of the US market.