Economy
Primary cash surplus widens to 2.66 bln in first five months of 2016
Greece’s central government primary cash balance climbed to 2.66 billion euros in the first five months of 2016 from 1.07 billion euros last year, Bank of Greece (BoG) figures showed on Friday.
Commission sees lower Greek financing needs, provides timetable for course of programme
Along with an updated debt sustainability analysis (DSA), the European Commission’s (EC) compliance report for the first programme review included an update on Greece’s financing needs.
In updated DSA, EC sees Greek debt as unsustainable if no relief measures implemented
In its compliance report for the first programme review, the European Commission (EC) included an updated debt sustainability analysis (DSA). This takes into account the milder recession and higher fiscal outcome in 2015 and lower bank capital needs.
BoG reveals medium-term economic forecasts, sees growth of 2.5 pct next year
The Bank of Greece (BoG) disclosed for the first time in its monetary policy report published on Wednesday its detailed medium-term (until 2018) macroeconomic forecasts.
Five-month budget primary surplus of 2.27 bln, revenues outperform in May
Greece’s budget primary surplus stood at 2.27 billion euros in the 5-month period of 2016 up by more than 50 percent from last year’s figure of 1.51 billion, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Thursday.
Unemployment up for second straight quarter to 24.9 pct in Q1
The Greek non-seasonally-adjusted unemployment rate rose for the second successive quarter to 24.9 percent in Q1 of 2016 from 24.4 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
BoG proposes debt relief measures and lower primary surplus target from 2018
In its monetary policy report published on Wednesday, the Bank of Greece (BoG) suggested a set of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent of GDP from 3.5 percent from 2018 onwards.
NBG completes sale of Finansbank to Qatar National Bank
NBG announced on Wednesday afternoon the transfer of its 99.81 percent stake in the Turkish Finansbank to Qatar National Bank (QNB).
Turnover in services sector deteriorates in Q1
The majority of the turnover indices for the services sector fell year on year in the first quarter (Q1) of 2016, Hellenic Statistical Authority (ELSTAT) figures displayed on Wednesday.
Hirings outpace job departures by 76,591 in May for fourth positive monthly balance in a row
The employment balance displayed net hirings of 76,591 in May 2016, down by 9,555 compared to the corresponding period last year, the Labour Ministry’s information system (Ergani) data showed on Wednesday.