Economy
Lenders' report reveals long-term savings from pension reform, which also offset court ruling
The compliance report for the first programme review published by the European Commission (EC) last week revealed, among others, the long term fiscal impact of the pension reform arising from the measures legislated in the summer of 2015 as well as from those recently voted through Parliament.
Despite strong rebound on Friday, Greek stocks dive 5.2 pct during week
Despite a rebound of 5.4 percent on Friday, the Greek stock market fell 5.2 percent this week amid the negative sentiment that prevailed in the global markets until Thursday largely fuelled by Brexit concerns.
Primary cash surplus widens to 2.66 bln in first five months of 2016
Greece’s central government primary cash balance climbed to 2.66 billion euros in the first five months of 2016 from 1.07 billion euros last year, Bank of Greece (BoG) figures showed on Friday.
Commission sees lower Greek financing needs, provides timetable for course of programme
Along with an updated debt sustainability analysis (DSA), the European Commission’s (EC) compliance report for the first programme review included an update on Greece’s financing needs.
In updated DSA, EC sees Greek debt as unsustainable if no relief measures implemented
In its compliance report for the first programme review, the European Commission (EC) included an updated debt sustainability analysis (DSA). This takes into account the milder recession and higher fiscal outcome in 2015 and lower bank capital needs.
BoG reveals medium-term economic forecasts, sees growth of 2.5 pct next year
The Bank of Greece (BoG) disclosed for the first time in its monetary policy report published on Wednesday its detailed medium-term (until 2018) macroeconomic forecasts.
Five-month budget primary surplus of 2.27 bln, revenues outperform in May
Greece’s budget primary surplus stood at 2.27 billion euros in the 5-month period of 2016 up by more than 50 percent from last year’s figure of 1.51 billion, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Thursday.
Unemployment up for second straight quarter to 24.9 pct in Q1
The Greek non-seasonally-adjusted unemployment rate rose for the second successive quarter to 24.9 percent in Q1 of 2016 from 24.4 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
BoG proposes debt relief measures and lower primary surplus target from 2018
In its monetary policy report published on Wednesday, the Bank of Greece (BoG) suggested a set of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent of GDP from 3.5 percent from 2018 onwards.
NBG completes sale of Finansbank to Qatar National Bank
NBG announced on Wednesday afternoon the transfer of its 99.81 percent stake in the Turkish Finansbank to Qatar National Bank (QNB).