Economy
Many obstacles to clear in Greece's digital leap
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Announcing the establishment by Microsoft of a regional cloud computing hub in Greece, Prime Minister Kyriakos Mitsotakis said that his government was focussing on “the digital transformation of government and the economy” as a critical step in achieving “Greece’s leap into the future, placing Greeks among the winners of the 4th industrial revolution”.
Piraeus Bank posts pre-tax losses of 133 mln in 9M
Piraeus Bank’s nine-month (9M) results revealed pre-tax losses of 133 million euros compared to pre tax profits of 110 million euros in the relevant period in 2019.
Covid-19 leaves Greece facing 200 pct debt-to-GDP ratio in 2021, long road to sustainability
The report for the eighth post-programme review published last week included an update of the debt sustainability analysis (DSA) for Greece, the first revision since the one conducted in the context of the fifth review at the start of the year, before the pandemic struck.
Travel balance falls by 70.9 pct in September as 12.6 bln in receipts vanish in aggregate
Greece’s travel balance came to 776.5 million euros in September from 2.67 billion a year ago, Bank of Greece (BoG) data has shown. This is equal to an decrease of 70.9 percent year-on-year (YoY).
Revised 2021 budget sees bigger contraction, slower recovery and support of 31.4 bln euros
With Greece having completed two weeks of general lockdown and as Covid-19 data continued to cause alarm, Finance Minister Christos Staikouras tabled to Parliament on Friday the final 2021 budget, which was substantially revised from the draft document submitted at the start of October.
Current account shows deficit of 498.8 mln in September on declining services and oil receipts
Greece’s current account (C/A) balance posted a deficit of 498.8 million in September compared to a surplus of 79.7 million euros in August, Bank of Greece (BoG) data showed on Friday.
Eurobank net results show loss of 1.08 bln in 9M
Eurobank recorded net results of a loss of 1.08 billion euros in the nine-month period (9M) of 2020 compared to net profits of 94.3 million in 9M 2019.
Industrial turnover drops by 10.7 pct in September on decline in petroleum products
Greece’s industrial turnover fell by 10.7 percent year-on-year (YoY) in September compared to a revised drop of 15 percent in August, Hellenic Statistical Authority (ELSTAT) data published on Thursday showed.
Central government debt increases by 1.99 bln to 364.86 bln in Q3
Greece’s central government debt increased by 1.99 billion euros to 364.86 billion euros quarter-on-quarter (QoQ) in the third quarter (Q3) of 2020, from 362.87 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Thursday.
Lenders acknowledge reforms, flag up tricky fiscal path ahead
Greece managed to clear on Wednesday the fourth post-programme review for this year and the third since the pandemic broke.