MacroPolis

Reopening of 7-year bond affirms tougher conditions on sovereign debt market

28/04/2022 - 09:21

Amid the uncertain times of the Ukraine conflict and the inflationary pressures globally, but after Greece’s upgrade by S&P last week to one notch from investment grade and the recent prepayment of IMF loans by the government, the PDMA saw a window of opportunity to dip back into the bond market.

March budget primary balance short of target, but taxes continue to overperform

26/04/2022 - 16:32

The budget primary balance for the first three months of 2022 was confirmed at 1.65 billion euros, compared to a deficit of 13.4 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.

S&P moves Greece closer to investment grade, puts focus on budget and growth

25/04/2022 - 08:57

S&P on Friday night upgraded Greece’s credit rating by one notch to ‘BB+’, while the outlook was revised from positive to stable. Greece is now just one notch away from securing an investment grade with S&P.

Travel balance improves significantly in first two months of 2022

21/04/2022 - 14:50

Greece’s travel balance recorded a surplus of 63 million euros in February, from 60.8 million euros in January 2022, according to Bank of Greece (BoG) data released on Thursday.

IMF trims 1 point off 2022 growth, makes major revision to inflation forecast

21/04/2022 - 11:21

The International Monetary Fund (IMF) released its latest global macro and fiscal estimates in the context of the spring meetings currently held in Washington, capturing the impact of inflation on growth.

Current account deficit for Jan-Feb at 4.12 bln, significantly higher than 2021

20/04/2022 - 11:59

Greece posted a current account (C/A) deficit of 2.12 billion euros in February, from 1.99 billion euros in January, Bank of Greece (BoG) data showed on Wednesday.

Primary budget deficit at 1.69 bln euros in Q1 as tax revenues continue to overperform

19/04/2022 - 14:35

The budget primary balance for the first three months of 2022 came to a deficit of 1.69 billion euros, compared to a deficit of 3.41 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.

Industrial turnover recovery continues at pace, with 33.8 pct rise in Feb

19/04/2022 - 13:07

Greece’s industrial turnover stayed on a solid recovery path in February, rising by 33.8 percent year-on-year (YoY), from an upwards revised 36 percent in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Tuesday.

Energy products lead rise as import price index escalates by 27.2 pct in Feb

14/04/2022 - 12:59

Greece’s import price index posted another solid rise of 27.2 percent year-on-year (YoY) in February, after shooting up by 31.8 percent in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday.

Unemployment remains at 12.8 pct in Feb, lowest since summer 2010

13/04/2022 - 16:26

Greece’s seasonally adjusted (SA) unemployment rate was broadly stable at 12.8 percent in February, from a slightly revised 12.9 percent in January, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.