Economy
Credit contraction accelerates to 2 pct in May on increased loan deductions of 357 mln
Greek bank credit contraction edged up to 2 percent in May, after slowing to 1.9 percent in April, Bank of Greece (BoG) figures displayed on Monday.
Deposit flow turns positive in May with inflows of 184 mln
The flow of Greek private sector deposits turned positive in May with inflows of 184 million following outflows of 59 million in April, Bank of Greece (BoG) figures displayed on Monday.
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Stocks plunge 8.8 pct over week in aftermath of UK referendum outcome
The Greek equity market tumbled 13.4 percent on Friday as the result of the UK referendum triggered risk-off trades in the global markets.
Greek economy braced for impact from Brexit, hopes effect will be limited
The impact of the UK referendum on Greece will be rather small and limited, Bank of Greece (BoG) sources said on Friday after the majority of British voters backed “Leave,” raising questions about what effect this could have on the Greek economy in the months to come.
Pending pensions mount up, complicating fiscal effort
During the recent annual conference organised by the Confederation of Social Security Workers (POPOPK), its chairman provided an update on the key pension fund figures, which continue to demonstrate a bleak outlook for the Greek social security sector.
Study estimates tax evasion costs taxpayer up to 16 bln annually
Tax evasion in Greece is estimated to range from 6 to 9 percent of GDP, involving tax losses from 11 to 16 billion a year – the equivalent of almost one third of public revenues – according to a new study conducted by Ernst and Young for the Athens-based think tank Dianeosis.
ECB reinstates waiver in first step towards improving liquidity conditions for Greek banks
As expected, the European Central Bank’s governing council decided on Wednesday evening to reinstate the waiver on Greek government securities, which was lifted on February 4, 2015.
Lower foreign arrivals lead to 7 pct drop in April travel receipts
Greece's travel receipts fell by 7 percent in April after a short-lived rise by 8.2 percent in March, Bank of Greece (BoG) figures displayed on Wednesday.
Industrial turnover dives by 15.3 pct in April in fourth straight double-digit decrease
Greece’s Turnover Index in Industry dropped at an accelerating pace of 15.3 percent in April from a revised 12.4 percent decline in March, Hellenic Statistical Authority (ELSTAT) figures displayed on Tuesday.
Current account deficit narrows to 822 mln in April
Greece's current account (C/A) deficit fell by almost 21 percent to 822 million in April from 1.04 billion a year ago, Bank of Greece (BoG) figures showed on Tuesday.