Economy
In 9th post-bailout review, EC sees reforms slowing due to pandemic
The European Commission published on Wednesday the ninth post-programme report in the context of the enhanced surveillance agreed at the end of Greece’s third adjustment programme back in the summer of 2018.
Retail sales drop by 8.6% in 2020 as e-shops prosper but many sectors suffer
The complete picture of a dire year for the retail sector in Greece was captured on Tuesday when the Hellenic Statistical Authority (ELSTAT) released the full-year results for the sector.
Piraeus Port Authority net profit shrinks 25 pct in 2020
Piraeus Port Authority’s full-year net income shrank by a quarter in 2020 to 26.4 million euros from 35.4 million euros a year earlier.
Travel balance falls by 97.3 pct in December, 76.5 pct in 2020
Greece’s travel balance came to 0.8 million euros in December from 28.6 million a year ago, Bank of Greece (BoG) data has shown. This is equal to a decrease of 97.3 percent year-on-year (YoY).
Alpha Bank enters agreement with Davidson Kempner for 10.8 bln Galaxy securitisation
Alpha Bank entered an agreement with US investor Davidson Kempner Capital Management in a deal worth about 230 million euros that moves it towards completing Europe’s second-largest rated NPE securitisation.
New tax debt €7.13 bln in 2020, rising by €1.34 bln in December
The month-on-month rise in Greece's new tax debt came to 1.34 billion euros in December, data from the Independent Authority of Public Revenues (IAPR) has shown.
Current account deficit hits €11.2 bln in 2020 after tourism collapse
Greece’s current account (C/A) balance deteriorated by 8.44 billion euros to a deficit of 11.17 billion euros, compared to a deficit of 2.73 billion euros in 2019, Bank of Greece (BoG) data showed.
Industrial turnover drops 3.5% in December as overseas markets hit
Greece’s industrial turnover fell in December as nascent recovery in the overseas market was stopped in its tracks by the resurgent impact of the pandemic on economies.
Central government debt increases €9.15 bln to €374 bln in Q4
Greece’s central government debt increased by 9.15 billion euros to 374 billion euros quarter-on-quarter (QoQ) in the third quarter (Q4) of 2020, from 364.9 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Friday.
Primary cash deficit at €1.6 bln in January
Greece’s central government recorded a primary cash balance deficit of 1.6 billion euros in January, according to figures released by the Bank of Greece.