Economy
BoG sees 2.3 pct growth this year, urges reforms to restore per capita GDP to pre-crisis levels
The Bank of Greece published its latest monetary policy report, which re-affirms the growth outlook for this year, the challenges that lie ahead for the new Greek government as well as an array of policy recommendations.
Producer Price Index contracts for third consecutive month, down 12.9 pct in May
Greece’s Producer Price Index (PPI) contracted for the third consecutive month in May, falling by 12.9 percent year-on-year (YoY), from a 13.3 percent contraction in April, ELSTAT data showed on Friday.
Retail sales rise by 1.5 pct in Apr, food volumes down by 4.2 pct
Greece’s retail sales turned positive after the first negative reading since 2021, with a rise of 1.5 percent year-on-year (YoY), from a marginal drop of 0.3 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Unemployment rate drops to 10.8 pct in May, youth figures improve to 24 pct
Greece’s seasonally adjusted (SA) unemployment rate dropped in May, landing at 10.8 percent, from an upwards revised 11.3 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment approaches pre-Ukraine war high, consumer confidence highest since 2021
Greece’s economic sentiment (ESI) recorded a solid rise of almost 2 points in June, after a minor 0.6-point drop in May, according to European Commission figures released on Thursday.
Credit growth slows to 3.1 pct in May, as flow to corporations contracts
The pace of credit movement in the Greek private sector continued to slow in May, rising by 3.1 percent year-on-year (YoY), from 3.9 percent in April, Bank of Greece (BoG) figures released on Wednesday showed.
Deposits rise by 794 mln in May, balance at 186.42 bln
The net private sector deposit movement in the Greek banking system was positive by 794 million euros in May, after a small drop of 15 million euros in April, based on the latest Bank of Greece (BoG) figures released on Wednesday.
Building activity jumps by 34.2 pct in Mar, Q1 permits up 13.6 pct
Building permits recorded a solid rebound in March, rising by 34.2 percent year-on-year (YoY), following a contraction of 15.2 percent in February, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Wednesday.
VAT, income taxes help push May budget primary balance above target by more than 3 bln
The budget primary balance in May was confirmed to be a surplus of 2.3 billion euros, compared to a deficit of 1.49 billion euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Monday.
Bond re-opening with 4 pct yield completes debt strategy for year
The PDMA took another cautious step on Wednesday by completing the debt strategy for the year with a small re-opening of the issuance that matures in January 2042, also rounding up the re-opening schedule for the second quarter.