Economy
Greece drops six places in global ease of doing business report
The World Bank’s Doing Business 2018 report showed that Greece fell several places to stand at 67 out of 190 countries surveyed. Last year’s report had put the country at 61.
Athens eyes ample cash buffer, prepares for bond swap
Speaking to a parliamentary committee on Wednesday, Alternate Finance Minister Giorgos Houliarakis highlighted the government’s plans for creating an ample cash buffer before it exits the third programme next summer.
PMI at 52.1 in October, dropping slightly from previous month
Greece’s Manufacturing PMI dipped slightly by 0.7 points in October to 52.1. Although the latest headline figure represents a three-month low, the index has remained above the 50-mark threshold for a fifth consecutive month.
General govt primary cash surplus at 5.34 bln in nine-month, sharp fall in arrears
Greece’s general government (gg) primary cash surplus amounted to 5.34 billion in the first nine months of 2017, up marginally (by 3 million euros) compared to the same time last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Debt relief-for-reforms option being discussed for post-programme era
Greece’s lenders are discussing the possibility of reaching an agreement with Athens to link debt relief to future reforms after the end of the third programme, a eurozone official told journalists in Brussels on Tuesday.
Banks enhance steps to deal with NPLs ahead of stress test
Greek banks will be able to bolster their protective measures against the large number of non-performing loans (NPLs) on their books under planned changes to the Code of Civil Procedure.
Retail sales drop by 0.3 pct in August, first negative reading for the year
Greece’s retail sales fell by 0.3 percent year-on-year in August after revised growth of 1.8 percent in July, according to data published by the Hellenic Statistical Agency (ELSTAT) on Tuesday.
Sub-tranche released but PPC poses key challenge in review
The European Stability Mechanism (ESM) disbursed the 800-million-euro sub-tranche from the Greek programme on Monday as Athens focusses on completing dozens of prior actions in the hope of concluding the third review before the end of the year.
Economic sentiment at 98.3 pts in October, consumer confidence drops -0.3 pts
Greece’s economic sentiment (ESI) remained in positive territory in October but slipped under the 100-point mark to 98.3 compared to 100.6 points in September, European Commission (EC) figures revealed on Monday.
Focus back on remaining prior actions after mission chiefs' visit
After the week-long visit by the institutions’ heads of mission to Athens as part of the third programme review, the focus will now shift back to the implementation of the dozens of outstanding prior actions needed for the inspection to be completed.