Economy
PBO highlights exceptional factors supporting recovery, cautions against complacency
The Parliamentary Budget Office (PBO) issued its latest quarterly report on Tuesday, noting the economic recovery but warning against complacency as the factors behind the solid GDP rebound in the second quarter are circumstantial and transitory.
Banks moving at pace on road to recovery
The momentum of positive developments in the Greek banking sector is growing as systemic lenders appear to be leaving behind them, with gradual but steady steps, the legacy issues of the decade-long debt crisis that damaged their balance sheets.
July travel surplus of 2.14 bln affirms comeback for tourism sector
Greece’s travel balance came to a surplus of 2.14 billion euros in July, from 610.2 million a year ago, when the tourism sector made the first tentative steps after the pandemic outbreak, according to Bank of Greece (BoG) data released on Tuesday.
Rise in wages index slows to 2.5 pct in Q2 but hits six successive quarters of growth
Greece’s seasonally adjusted (SA) Wages Index in the second quarter (Q2) rose by 2.5 percent year-on-year (YoY), slowing down from the 5.8 percent increase in Q1 2021, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.
Current account turns surplus in July as travel steps up
Greece posted a current account (C/A) surplus of 538.1 million euros in July, from a deficit of 1.34 billion euros in June, Bank of Greece (BoG) data showed on Monday.
Industrial turnover continues on recovery path with 25.2 pct rise in June
Greece’s industrial turnover increased by 25.2 percent year-on-year (YoY), from 22.4 in June, data from the Hellenic Statistical Authority released on Monday showed.
RRF injection pushes primary balance above target, but regular tax revenues short by 504 mln
The budget primary balance recorded a deficit of 6.39 billion euros in the first eight months of 2021, compared with a deficit of 5.48 billion in the same period last year, the preliminary Finance Ministry (MoF) budget execution data showed on Thursday.
Busy Q2 for securitisations sees rise in bad loans managed by servicers
In the second quarter of the year (Q2), loans managed by Credit Servicing Firms (CSF) stood at 61.75 billion euros, according to data released by the Bank of Greece (BoG) on Thursday.
Spurred by rising employment, Q2 unemployment drops to 10-year low of 15.8 pct
Greece’s non-seasonally adjusted unemployment rate was 15.8 percent in the second quarter of the year (Q2), from 17.1 percent in Q1, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Unemployment rate down to 14.2 pct in July, lowest since Nov 2010
Greece’s seasonally adjusted (SA) unemployment rate dropped to 14.2 percent in July from 15 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.