Economy
Lenders focus on closing any fiscal gap for 2019 ahead of November 19 Eurogroup
Monday’s Eurogroup did not provide any definitive answers regarding the negotiations between Greece and the institution over the 2019 budget but the indications are that Athens will be allowed to scrap next year’s pension cuts if it can re-assure the lenders that the 3.5 percent of GDP primary surplus will not be put at risk.
General govt primary cash surplus at 5.21 bln in September, arrears fall by 411 mln
Greece’s general government (gg) primary cash surplus came to 5.21 billion euros in the first nine months of the year, reduced by 116 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Athens ready to start legislating fiscal measures despite ongoing talks over 2019 budget
All eyes will be on the dispute of Italy’s budget at Monday’s Eurogroup, but in Greece the government is preparing to start legislating fiscal measures even though the disagreement over its own economic plan for 2019 does not seem to have been settled yet.
APS option to help banks with bad loans seen gaining ground
Greek authorities appear to be edging towards the option of creating an Asset Protection Scheme (APS) to help banks reduce their stock of bad loans, developments this week suggest.
IMF distances itself from budget talks, leaving Athens and EU to hammer out deal
The International Monetary Fund has officially indicated that although it believes Greece should implement the pension cuts it has agreed for next year, it will leave it up to Athens and its European lenders to come to an arrangement over the 2019 budget.
Greece drops to 72 in Doing Business index as long-term problems persist
The latest Doing Business Indicators report for 2019 by the World Bank Group has shown that Greece fell to number 72 out of 190 economies worldwide.
PMI slows to 53.1 in October, orders and employment remain strong
Greece’s Manufacturing PMI declined slightly to 53.1 points in October from 53.6 points in September, staying over the 50-mark threshold for 17 months.
Retail turnover increases by 4.3 pct in August, volume rises 3.2 pct
Greece’s retail sales index increased by 4.3 percent in August, a slight increase from July’s figure of 4 percent, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Mytilineos nine-month turnover drops by 3.2 pct
The industrial conglomerate Mytilineos S.A has released its nine-month (9M) results showing that turnover fell by 3.2 percent year-on-year (YoY).
Economic sentiment drops to 101 in October, consumer confidence rises by 6.6 points
Greece’s economic sentiment (ESI) fell by 0.3 points to 101 in October compared to September, European Commission (EC) figures revealed on Tuesday.