Economy
Fitch raises Greece to 'BB,' two notches from investment grade, sees growth at 2.5 pct in 2020
Fitch upgraded Greece’s credit rating on Friday by one notch to ‘BB’ and revised upwards its outlook to positive, bringing the country just two notches away from investment grade.
Disposable income rises by 3.5 pct YoY in Q3, final consumption up by 0.9 pct
Greek household disposable income grew by 3.5 percent year-on-year (YoY) in the third second quarter (Q2) of 2019, decreasing from the rise of 5 percent noted in the previous quarter, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Lenders set out key review issues as Athens tables proposals for fiscal space
Greece’s fifth enhanced surveillance review formally kicked off on Wednesday when the heads of mission started their meetings with the Greek authorities, following a week of preparatory work by the technical teams.
Mission chiefs pick up fifth review baton as Greece mulls new bond issue
Greek government officials are due to begin meetings with the institutions’ mission chiefs on Wednesday as part of the fifth enhanced surveillance review, which Athens hopes will pave the way for its three fiscal demands to be met later this year.
November travel receipts drop by 42.9 pct on lower French receipts
Greece’s travel balance fell to a surplus of 87.4 million euros in November according to Bank of Greece (BoG) data released on Tuesday, a decline of 42.9 percent compared to the same time last year.
Current account posts deficit of 1.39 bln in November
Greece’s current account (C/A) balance posted a deficit of 1.39 billion euros in November, from a deficit of 673.4 million in October, according to Bank of Greece (BoG) data released on Monday.
Industrial turnover drops by 7.9 pct in November
Greece’s industrial turnover fell by 7.9 percent year-on-year (YoY) in November, deepening from a drop of 7.4 percent in October, Hellenic Statistical Authority (ELSTAT) data published on Monday showed.
Primary cash balance surplus at 5.56 bln in December
Greece’s central government primary cash balance recorded a surplus of 5.56 billion euros in 2019 according to figures released by the Bank of Greece (BoG).
Athens steps up drive for fiscal space as fifth post-MoU review continues
Monday’s Eurogroup in Brussels will provide the first opportunity for the Greek government to sound out European officials regarding its efforts to create more fiscal space, while discussions will continue in Athens this week regarding the fifth enhanced surveillance review.
Building permits increase by 12.6 pct in October
Building permits rose by 12.6 percent year-on-year (YoY) in October compared to a rise of 8.5 percent in September, Hellenic Statistical Authority (ELSTAT) data released on Friday showed.