Economy
PBO report highlights short-term recessionary impact and tax-centric austerity of 2017 draft budget
The Parliamentary Budget Office (PBO) published an interim report on Wednesday evening commenting on the 2017 draft budget tabled by the Finance Ministry on October 4.
Primary cash surplus expands to 3.2 bln by September incorporating arrears repayment of 2 bln
Greece’s central government primary cash surplus increased by 540 million to 3.22 billion in the 9-month period of 2016 from 2.68 billion last year, Bank of Greece (BoG) figures showed on Wednesday.
Net job hirings of 7,788 in September; highest 9-month figure since 2001
The employment balance turned positive in September, with net hirings standing at 7,788, up from the net departures of 13,003 in the corresponding period last year, data from the Labour Ministry’s Ergani information system showed on Wednesday.
Credit standards and demand for Greek loans remain stable in Q3
As previously estimated, credit standards for Greek corporate and household loans remained broadly unchanged quarter on quarter (QoQ) in the third quarter (Q3) of 2016, Bank of Greece (BoG) bank lending survey (BLS) showed on Tuesday.
Stournaras outlines conditions for strong 2017 growth, calls for debt relief measures soon
Speaking at the congress of the Association of Greek Tourism Enterprises (SETE) on Monday, the Bank of Greece (BoG) governor Yannis Stournaras repeated his belief that the domestic economic will start recovering in the second half of this year.
Greece gears up for second review, faces wide-ranging reform to-do list
The government is expected to start negotiations with the institutions on the second programme review early this week.
Moody’s affirms Greece’s rating at Caa3 with stable outlook
In its scheduled rating review, Moody’s affirmed Greece’s rating at ‘Caa3’ with a stable outlook.
Greek stocks on the rise again, end week 2.1 pct up
The Greek equity market headed north for the second straight week, rising by 2.1 percent, while banks continued to perform well.
Budget primary surplus to Sept reaches 5.45 bln on strong revenue performance
Greece’s budget primary surplus soared 77.5 percent to 5.45 billion euros in the 9-month period of 2016 from 2.27 billion last year, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Friday.
Arrears payments of 915 mln in Aug bring total to 1.4 bln over two months
The government accelerated its efforts to clear arrears in August, when the figure more than doubled to 915 million euros from 440 million in July, according to the Finance Ministry (MoF) bulletin published on Friday.