Economy
Exit from enhanced surveillance nears, but fiscal commitments bind Greece until 2060
Greece is a step away from exiting the enhanced surveillance regime, the monitoring regime that was introduced after the completion of its third bailout, which is due to expire on August 20.
Budget primary balance beats target by 4.64 bln in July on back of impressive tax performance
The budget primary balance up to July 2022 came to a deficit of 1.17 billion euros, compared to a deficit of 9.06 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.
Import price rise slows to 32.8 pct in June, index posts first MoM drop since Nov
Greece’s import price index grew at a solid pace in June, recording a rise of 32.8 percent year-on-year (YoY), according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Vehicle sales record back-to-back annual drop of 2.7 pct in July
The rise in road motor vehicles going into circulation for the first time stayed broadly unchanged in July, rising by 2.3 percent year-on-year (YoY), following 2 percent growth in June, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Growth of industrial production accelerates to 8.4 pct in June, highest rate for 2022
Greece’s Industrial Production Index (IPI) recorded back-to-back gains in June, rising by 8.4 percent year-on-year (YoY), after increasing by 3.6 percent in May, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
Unemployment rate drops to 12.1 pct in June, lowest since before first MoU
Greece’s seasonally adjusted (SA) unemployment rate de-escalated further in June, falling to 12.1 percent from 12.5 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Inflation slows to 11.6 pct in July as housing and transport costs rise sharply
Greece’s Consumer Price Index (CPI) remained at record high levels in July, rising by 11.6 percent year-on-year, though it did slow down from the 12.1 percent seen in June, according to the data released on Monday by the Hellenic Statistical Authority (ELSTAT).
Trade deficit soars by 71.6 pct in H1, reaching 17.59 bln
The rise in Greece’s trade deficit slowed down in June, but still increased by a sizable 42.7 percent year-on-year, according to data released by ELSTAT on Friday. This came after an 84.7 percent jump in May.
Balance of payments shows shipping on course for bumper year, but economic benefits unclear
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Shipping provided the one bright spot in Greece’s trade balance in May, with transportation contributing 2.16 billion in receipts, compared to 1.44 billion the same month last year, an increase of 50 pct
Piraeus Bank reports 614 mln profit in H1 after NPE de-risking drive in 2021
Piraeus Bank posted a net profit of 614 million euros in the first Half (H1) of 2022, from losses of 2.45 billion euros last year, due to 3 billion euros in clean-up impairments in H1 2021.