Economy
Credit in Greece contracts by 3.5 pct in August
The rate at which credit to the Greek private sector is contracting slightly eased to 3.5 percent in August from 3.7 percent in July, according to the Bank of Greece (BoG).
Greek trade deficit widens by 29.4 pct in July as import rate soars
The rate at which Greece’s trade deficit is expanding was back into double digits in July, when it increased by 29.4 percent from 7.4 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
Greek primary budget surplus to August narrows to 1.95 bln on lower revenues
Greece’s budget execution showed the primary surplus narrowing to 1.95 billion in the 8-month period, according to the final data released by the Ministry of Finance (MoF). The surplus for the 7-month period had been 2.28 billion euros.
Greece sees travel receipts rise again in July to reach 2.74 bln
Greece's travel receipts increased for the second straight month in July, rising by 14.4 percent, according to the Bank of Greece (BoG). They were up 16.3 percent in June.
Greek banks' potential capital shortfalls set to be reduced by more than 2.5 bln
Greek media reported on Tuesday that the Ministry of Finance (MoF) will soon table in Parliament a draft bill which will allow the conversion of Greek banks’ Deferred Tax Asset (DTA) into tax credit.
European Commission sees some progress in Greece's market reforms
In its report titled “Market Reforms at Work in Italy, Spain, Portugal and Greece”, the European Commission (EC) has outlined that reforms of the public administration, the judicial system and those to facilitate the ease of doing business in Greece have had a positive but partial impact.
Current account surplus reaches 1.68 bln in July thanks to services
Greece's current account (C/A) balance posted a surplus for the second straight month in July, reaching 1.68 billion euros in July, which was 40.3 percent down year on year (YoY), according to the Bank of Greece (BoG).
Sudden jump in unpaid taxes last month takes total to almost 70 bln
The rate of increase in Greece’s unpaid taxes significantly accelerated to 1.42 billion in August from around 1 billion in the preceding two months, according to data provided by the General Secretariat of Information Systems today.
Industrial turnover up 0.4 pct in July for rare second straight month of growth
The Turnover Index in Industry advanced for the second straight month in July, rising by 0.4 percent following an upward revised 11 percent increase in June, according to the Hellenic Statistical Authority (ELSTAT).
Seasonal jobs bring down Q2 unemployment to 26.6 pct but long-term jobless rising
The non-seasonally-adjusted unemployment rate posted a drop both year on year (YoY) and quarter on quarter (QoQ) to 26.6 percent in Q2 2014 from 27.8 percent in the previous quarter and 27.3 percent in Q2 2013, according to the Hellenic Statistical Authority (ELSTAT).