Economy
Overdue social security contributions rise to 37.4 bln in Q3
The stock of unpaid social security contributions (SSCs) increased to 37.40 billion in the third quarter (Q3) of 2020, rising by 393 million compared to the figure of 37 billion euros registered in the second quarter (Q2) of 2020, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
General govt primary cash deficit of 9.07 bln in October, arrears drop by 250 mln
Greece’s general government (gg) primary cash deficit came to 9.07 billion euros in the first ten months of the year compared to a surplus of 5.64 billion in the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Trade deficit falls by 30 pct in October as imports and exports remain slow
Greece’s trade deficit fell by 30 percent year-on-year (YoY) in October compared to a drop of 24 percent in September, data from the Hellenic Statistical Authority (ELSTAT) released on Monday showed.
GDP grows by 2.3 pct QoQ in Q3 and drops by 11.7 pct YoY as services exports crash
Greece’s seasonally adjusted (SA) GDP showed an increase of 2.3 percent (QoQ) in the third quarter (Q3) of 2020 after a revised decrease of 14.1 percent in Q2 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
EIB investment survey points to diminished investment appetite
The European Investment Bank has released its annual investment survey, showing that for the first time since the survey started five years ago, investment sentiment has largely turned negative across the European Union.
OECD sees heavy hit from pandemic, gradual recovery in 2021 picking up pace in 2022
The OECD has released its latest economic outlook showing that Greece is unlikely to escape a significant economic downturn due to the second wave of the virus.
Updated IMF DSA sees Greek debt as sustainable in medium-term, risks over long-term
The International Monetary Fund (IMF) issued this week the latest post-programme monitoring report, the second since the summer of 2018, when the last programme ended.
PMI drops to 42.3 points in November as second lockdown hits
Greece’s manufacturing PMI fell to 42.3 points in November from 48.7 points in October, according to the latest data from Markit.
NBG results show net profits of 602 mln euros in 9M
National Bank of Greece (NBG) reported net profits of 602 million euros from continued operations in the fιrst nine months (9M) of 2020, compared to 452 million euros in 9M 2019.
Exporters focus on new markets to weather pandemic
Greek exporters are continuing their efforts to ride out the coronavirus pandemic and its second wave by looking at how to change their export profile and tap into new export markets.