Economy
Balance sheet clean-up spurs Piraeus to net profit of 899mln, 1.22bln NII in 2022
Piraeus Bank posted a net profit of 899 million euros in the full year 2022, from losses of 3 billion euros last year, due to 3.87 billion euros in clean-up impairments in 2021.
Economic sentiment improves for fourth straight month in Feb
Greece’s economic sentiment (ESI) continued its recovery trend in February, rising by 1.6 points to 107.5, from an upwards revised 1.8 points in January, according to European Commission figures released on Monday.
Survey highlights households struggling with cost of living, delivers worst outlook since 2019
The effects of the cost-of-living crisis in Greece were summed up in another business association survey as the Hellenic Confederation of Professionals, Craftsmen, and Merchants (GSEVEE) published its latest household income and budget survey for 2022.
Travel balance of 15.7 bln in 2022 beats 2019 levels, arrivals yet to catch up
Greece’s travel balance recorded a surplus of 71 million euros in December, from 180 million euros in November, according to Bank of Greece (BoG) data released on Tuesday.
Industrial turnover grows by 16.7 pct in Dec as foreign markets contract MoM
Greece’s industrial turnover remained solid in December, rising by 16.7 percent year-on-year (YoY), though it slowed further from the 18.2 percent in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Monday.
Current account deficit exceeded 20 bln last year, up from 12.27 bln in 2021
Greece closed 2022 with a current account deficit of 2.66 billion euros, down from 3.93 billion euros in November 2022, Bank of Greece (BoG) data showed on Monday.
Vulnerable households allocated 60 pct of income for housing even before cost-of-living crisis
The struggles of Greek households, particularly those considered vulnerable, in coping with the cost-of-living crisis were captured in the latest housing overburden data published by Eurostat. It shows that even before the inflation wave intensified (the latest data is for 2021) Greek households had little leeway to cope with rising prices.
Budget starts year where it left off in 2022, beating target by 618 mln in Jan
The budget primary balance in January this year came to a surplus of 2.77 billion euros, compared to a surplus of 15 million euros in the same month of 2022, according to the preliminary Finance Ministry (MoF) budget execution data released on Thursday.
CPI stable at 7 pct in Jan as food inflation persists
Greece’s Consumer Price Index (CPI) remained broadly unchanged at the start of 2023, rising by 7 percent year-on-year in January, after increasing by 7.2 percent in December, according to the data released on Wednesday by the Hellenic Statistical Authority (ELSTAT).
Company revenues rise by 35.5 pct in 2022 on back of inflation and card transactions
The total turnover of enterprises in the Greek economy for 2022 jumped by 35.5 percent year-on-year (YoY), from 19.7 percent in 2021, based on data released by ELSTAT on Tuesday.