Economy
Greek trade deficit increases by 14.7 pct in March
Greece’s trade deficit continued heading north for the second successive month rising by 14.7 percent in March, according to the Hellenic Statistical Authority (ELSTAT).
Greek Jan-Apr primary budget surplus rises above 1 bln despite revenue shortfall
Greece’s budget execution showed a primary surplus of 1.05 billion euros in the first four months of 2014 from a primary deficit of 306 million last year, according to the final figures released by the Ministry of Finance (MoF) on Friday.
Fitch upgrades Greek credit rating to B with stable outlook
As previously rumoured, Fitch upgraded on Friday Greece’s rating by one notch to ‘B’ from ‘B-‘ with a stable outlook, yet still remaining in the non-investment grade.
Greece's C/A deficit for March drops sharply to 44.4 mln
Greece's March current account (C/A) deficit shrank to 44.4 million from 1.24 billion last year, according to the Bank of Greece (BoG).
Central gov't cash deficit shrinks to 1.27 bln in April
Greece’s central government net balance to April on a cash basis showed the deficit shrinking to 1.27 billion euros, 4 billion lower than a year earlier, according to the Bank of Greece (BoG).
Bond issued for capital support of Greek banks in 2009 reaches maturity
In late 2008, amid the US subprime crisis and 1.5 years before the signing of the first Memorandum of Understanding with the troika, the Greek government passed a bank liquidity and capital support bill (Law 3723/2008).
Greek central government debt inches down to 320.42 bln in Q1
Greece’s central government debt slipped by 1.06 billion quarter on quarter in Q1 2014 to 320.42 billion from 321.48 billion in the previous quarter, according to the Finance Ministry debt bulletin published on Wednesday.
Apartment prices fell 7.5 pct in Q1, down for the 21st successive quarter
Apartment prices in the Greek market fell by 7.5 percent year on year (YoY) in the first quarter (Q1) of 2014, according to the Bank of Greece (BoG). Although at a slightly decelerating trend over the past four quarters, this is the twenty-first successive negative reading since Q1 2009.
March fall for Greek industrial turnover is ninth in 15 months
After a temporary stall in February, the Turnover Index in Industry resumed a negative trend in March easing by 1.1 percent, according to the Hellenic Statistical Authority (ELSTAT). The February reading was revised from a marginal drop of 0.1 percent to a slight growth of 0.3 percent.
OECD sees 3.3 bln euros of savings Greece can make by cutting red tape
The Organisation for Economic Cooperation and Development (OECD) released a report on May 15 identifying 3.3 billion euros worth of burdensome regulations in 13 sectors weighing on businesses each year.