Economy
Greek trade deficit drops by larger rate of 27.2 pct in Feb
Greece’s trade deficit continued heading south for the second straight month in February, when it dropped by the higher rate of 27.2 percent compared to 21 percent in January, according to the Hellenic Statistical Authority (ELSTAT).
Unpaid taxes ease to 1.16 bln in Feb, collections progress at stable rate
Greece’s new unpaid taxes eased to 1.16 billion euros in February from 1.32 billion in January, according to data released by the General Secretariat of Information Systems (GSIS).
Higher revenues set to ease coalition's liquidity concerns
The Greek state has to imminently cover funding needs of around 1.2 billion euros this week in two key transactions, which are the most important for April’s obligations.
Updated Greek reform proposals see 2015 primary surplus reaching programme target 3 pct
Following the initial proposals on fiscal and structural measures from Greece, which we presented on March 30, the Financial Times revealed on Wednesday the updated version of the 26-page document submitted by the Finance Ministry (MoF) to the institutions.
Deposit rates stable, avg loan rate below 5 pct for first time since 2002
The interest rate on households’ new time deposits marginally increased by 1 basis point (bp) to 1.81 percent in February from 1.8 percent in January, according to the Bank of Greece (BoG).
Greek PMI edges up in March but exports, factory output fall
Greece’s Manufacturing PMI improved for the second straight month by 0.5 points to 48.9 in March from 48.4 in February, according to Markit.
Retail sales down by 2.6 pct in January for third straight monthly decline
The turnover of Greece’s retail trade index fell for the third successive month in January, when it declined by 2.6 percent from a revised 3.8 percent drop in December, according to the Hellenic Statistical Agency (ELSTAT).
A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
Greece and the Brussels Group began discussing over the weekend the details of the fiscal and structural measures proposed by Athens with the aim of securing the gradual disbursal of the remaining 7.2 billion euros in bailout funds.
Economic sentiment, consumer confidence edge down in March
Greece’s economic sentiment (ESI) fell by 1.4 points to 96.8 in March from 98.2 in February, according to the European Commission (EC).
Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery
In an unexpected move on Friday evening, Fitch Ratings downgraded Greece’s long-term Issuer Default Ratings (IDRs) by three notches to ‘CCC’ from ‘B’.