Economy
Unemployment falls below 14 pct for first time since Oct 2010
Greece’s seasonally adjusted (SA) unemployment rate dropped to 13.9 percent in August, from a downward revised 14 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF ups 2021 growth forecast to 6.5 pct, but keeps modest outlook for longer term
The International Monetary Fund, within the regular cycle of its World Economic Outlook (WEO) publication, was the latest international organisation to adopt a more optimistic view about Greece’s growth this year.
Building permit growth slows to 6.8 pct July, activity up by 31 pct in first seven months
The number of building permits issued in Greece decelerated further to an increase of 6.8 percent year-on-year (YoY), from 17.6 percent in June and 62.9 percent in May, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday.
Banks make steady progress on improving balance sheets via securitisations
Greece’s systemic banks are moving ahead with efforts to improve their balance sheets, aiming for single digit NPE ratios and profitability next year through securitisations assisted by the extension of the Hercules II APS.
Growth in car sales back up to 6.2 pct in Sept
Road motor vehicles going into circulation for the first time rose by 6.2 percent year-on-year in September, following an increase of 2.7 percent in August, according to Hellenic Statistical Authority (ELSTAT) data released on Monday.
Trade balance worsens as Aug produces 43.3 pct deficit on back of pick-up in non-EU activity
Greece’s trade deficit increased by 43.3 percent year-on-year (YoY) in August, following a 28.9 percent increase in July according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
CPI rises by 2.2 pct in Sept as prices shoot up at highest rate since 2012
Greece’s Consumer Price Index (CPI) continued its march in September, increasing by 2.2 percent year-on-year (YoY), after a 1.9 pct rise in August, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
Industrial production up 10.1 pct in Aug, marking 10-month recovery
Greece’s Industrial Production Index (IPI) rose by 10.1 percent year-on-year (YoY) in August, following an increase of 7.8 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Draft 2022 budget represents first attempt to restore post-pandemic fiscal order
Following two years during which Greece was allowed, thanks to the SGP escape clause, to run substantial deficits to protect its economy from the impact of the pandemic, 2022 sees some sense of fiscal order returning based on the draft budget submitted to Parliament on Monday.
Debt strategy for 2022 set to continue along this year's steady path, assisted by PEPP
Following two years during which the pandemic forced the Greek authorities to provide extensive support packages that pushed up the debt both in nominal terms and as a percentage of GDP, the draft 2022 budget anticipates the debt-to-GDP ratio resuming a downward path.