Economy
Greek 2016 draft budget contains 6.4 bln in new fiscal measures, sees recession ahead
The Greek Finance Ministry (MoF) submitted the 2016 draft budget to Parliament on Monday evening.
Lenders set out 49 milestones for Greece to meet before next bailout tranche
The Eurogroup Working Group (EWG) decided on Friday a long list of 49 milestones that Greece will have to achieve by mid-October for the disbursement of the next bailout sub-tranche of 2 billion euros.
Greek stocks down 5.1 pct over week as investors remain cautious
The domestic market continued heading south for the second straight week, with markedly subdued trading activity on the lack of positive catalysts and nervousness in the global markets.
Lenders also require health and labour market reforms from gov't in next months
While the attention regarding the key deliverables outlined in the third memorandum of understanding (MoU) has fallen on the areas of fiscal policy, pension reform, energy market and privatisation, there are a series of measures that have to be implemented that relate to health care and the labour market.
PMI rebounded in September, but survey data still point to a downturn on lack of new orders
Greece’s Manufacturing PMI further rose by 4.2 points to 43.3 in September from 39.1 in August, Markit said on Thursday.
New time deposit rate fell 12 bps in August to record low of 1.19 pct amid capital controls
Following a sharp drop by 50 basis points (bps) in July, Greek households’ new time deposit rate fell by another 12 bps to 1.19 percent in August Bank of Greece (BoG) figures showed on Thursday.
Greece failed to improve economic competitiveness in 2014, WEF report shows
After an improvement in the preceding two years, Greece’s competitiveness remained stable in 2014, according to the Global Competitiveness Report 2015-16 published by the World Economic Forum (WEF) on Wednesday.
Retail sales nosedive by 8.7 pct in July amid capital controls
The turnover of Greece’s retail trade index fell sharply by 8.7 percent in July, after a 1.7 percent drop in June, the Hellenic Statistical Agency (ELSTAT) said on Wednesday.
Economic sentiment rebounds in September after six-month drop
After dropping in the preceding six months, Greece’s economic sentiment (ESI) strongly rebounded in September, when it rose by 7.9 points to 83.1 from 75.2 in August, European Commission (EC) figures showed on Tuesday.
Ambitious privatisation targets will test government's resolve
Energy Minister Panos Skourletis insistence on Monday that the government aims to prevent power grid operator ADMIE being sold to private investors was a reminder of the pressing privatisation targets ahead for the coalition.