Economy
First round of HFSF's divestment from systemic banks concludes with 28 bln realised losses
The Hellenic Financial Stability Fund (HFSF), which was set up at the start of the debt crisis to support the banking sector, completed last week the first round of sales of its stakes in the four systemic banks, realising record losses for the Greek state.
Underwhelming GDP highlights investment falling short of mark
The signs that the Greek economy has been slowing were evident in previous GDP releases for 2023, as minor movements were recorded during the year and, after the latest revision, the first quarterly drop was seen in Q3. There was a minor 0.1 pct contraction, not seen since Q2 2020 when the pandemic dealt a serious blow to the economy.
Industrial production grows by 10.3 pct in Jan, boosted by electricity supply
Greece’s Industrial Production Index (IPI) accelerated further in January, growing by 10.3 percent year-on-year (YoY), after a 4.5-percent rise in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Trade deficit rises by 2.7 pct in Jan, as exports continue to fall sharply
Greece’s trade deficit recorded a rise of 2.7 percent year-on-year (YoY) in January, after a decline of 11.3 percent in December, according to data released by ELSTAT on Friday.
CPI at 2.9 pct in Feb, food prices up by 6.7 pct
The growth in Greece’s Consumer Price Index (CPI) slowed down marginally in February, with a rise of 2.9 percent year-on-year (YoY), after an increase of 3.1 percent in January, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Alpha Bank's NII at 1.65 bln in 2023, rising by 41 pct
Alpha Bank reported a net profit of 611 million euros in 2023, compared to a profit of 368 million euros in 2022.
Net interest income soars by 47 pct in 2023 as Eurobank reports net profit of 1.14 bln
Eurobank posted an adjusted net profit of 1.26 billion euros in 2023, compared to a profit of 1.18 billion euros in the previous year, a rise of 6.6 percent.
Labour market comes to rest, unemployment at 10.5 pct in Q4
Greece’s non-seasonally adjusted quarterly unemployment rate moved only marginally in Q4 last year, dropping to 10.5 percent, from 10.8 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
GDP continued to slow in Q4, rise for 2023 at 2 pct
Greece’s seasonally adjusted (SA) GDP had marginal gains in Q4, rising by 0.2 percent quarter-on-quarter (QoQ), from a 0.1 percent drop in Q3, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
Despite slowdown, Q4 property price rise pushes 2023 increase to 13.4 pct
The growth in the nominal value of apartments in Greece stayed strong in the last quarter of 2023, increasing by 11.8 percent year-on-year (YoY) from an upwards revised 12.1 percent in Q3 2023, Bank of Greece (BoG) data released on Tuesday showed.