Economy
Trade deficit soars 21 pct in April for highest rise since Dec 2014
Greece’s trade deficit sharply rose by 21 percent in April after a 23.7 percent drop in March, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.
General gov't primary cash surplus for Jan-Apr quadrupled to 2.6 bln, arrears stable at 6.7 bln
Greece’s general government (gg) primary cash surplus more than quadrupled to 2.6 billion euros in the 4-month period of 2016 from 581 million in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Monday.
Rise in new tax arrears slows further to 694 mln in April, total reaches almost 88 bln
The rate of increase in Greece’s new unpaid taxes further decelerated to 694 million euros in April from 881 million in March, General Secretariat of Information Systems (GSIS) data showed on Monday.
Greek stocks rebound 1.9 pct during week
The Greek stock market traded sideways in most sessions this week in a replay of events a week earlier.
Corporate lending rates resume upward trend in April, time deposit rate stable
Greek households’ new time deposit rate slipped by 1 basis point (bp) to 0.87 percent in April from 0.88 percent in March, Bank of Greece (BoG) data showed on Friday.
Government hopes offer of tax breaks and grants will spark growth boost
The Economy Ministry tabled in Parliament on Thursday evening the long-awaited Economic Development Law that the government hopes will boost productivity and growth.
ECB holds off on reinstating Greek waiver, waits for completion of prior actions
Despite expectations to the contrary, the European Central Bank’s governing council did not reach a decision on Thursday regarding the reinstatement of waiver on Greek government securities.
Government tables amendments with aim of securing bailout tranche within days
The government tabled in Parliament on Wednesday evening four amendments regarding most, but not all, of the pending prior actions required for the disbursement of the next bailout tranche of 7.5 billion euros.
Access to finance remains far bigger problem for Greek SMEs compared to euro area peers
The latest ECB semi-annual survey on the access to finance of enterprises for the six months ending in March 2016 showed that Greek SMEs continue facing the most notable obstacles in financing among their eurozone peers.
OECD sees economy picking up from second half of 2016, underlines need for reforms
In its latest economic outlook published on Wednesday, the OECD says it expects the Greek economy to recover in the second half of 2016.