Economy
Commitment to reducing debt front and centre in government fiscal policy
Greece's debt returned to the forefront of public debate last week following the visit of the Finance Minister Kyriakos Pierrakakis to the PDMA and the optimistic outlook he presented on the future prospects and plans to reduce Greece's debt burden.
National Bank net profits at 384 mln in Q1, fees up 6 pct YoY to 106 mln
National Bank of Greece (NBG) reported a core profit after tax of 384 million euros in Q1, compared to a profit of 358 million euros in Q1 2024, a rise of 1 percent year-on-year (YoY).
Eurobank net profits at 314.1 mln in Q1, commission income at 169.2 mln
Eurobank posted a net profit of 314.1 million euros in Q1 2025, from 287.2 million euros, up by 9.4 percent year-on-year (YoY).
Alpha reports 223 mln profit in Q1, commission income up 11 pct YoY
Alpha Bank reported a net profit of 223 million euros in Q1 2025, compared to a profit of 212 million euros in 2024, a rise of 5 percent.
Industrial Production contracts 1.7 pct YoY in Mar as all components drop
Greece’s Industrial Production Index (IPI) slowed further in March with a 1.7 percent year-on-year (YoY) rise, after a significantly upwards revised 6 percent increase in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
CPI moderates to 2 pct in Apr, rents continue to climb with 10.8 pct YoY rise
Greece’s Consumer Price Index (CPI) has stabilised in the recent months, with a rise of 2 percent year-on-year (YoY) in April, from 2.4 percent in the previous month, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Fuel drives sharp YoY rise of 25.3 pct in Mar trade deficit
Greece’s trade deficit rose significantly by 25.3 percent year-on-year (YoY) in March, after a sharp drop of 18.3 percent in February, according to data released by ELSTAT on Thursday.
Piraeus Bank profit at 284 mln in Q1, commissions income up to 160 mln
Piraeus Bank posted a net profit of 284 million euros in Q1 2025, from 233 million euros in Q1 2024.
Fiscal data impressive but details suggest caution still required
The state of Greece’s public finances took prominence in the public debate when Eurostat and ELSTAT published the official data for the 2021 to 2024 period, with Greece presenting a sizable primary surplus of 11.4 billion euros, or 4.8 pct of GDP, while the general government budget was in a total surplus of 3.18 billion euros, or 1.3 pct of GDP.
Solid conditions in manufacturing continue with PMI at 53.2 in April
Greece’s Manufacturing PMI saw a solid rise in April, when it reached 53.2 points from 55 points in the previous month, according to S&P Global data released on Friday.