Economy
New Democracy tax pledges put spotlight on available fiscal space
Following the announcement by Prime Minister Kyriakos Mitsotakis on Saturday of immediate tax cuts, with others to follow, focus is turning to the government’s ability to find the fiscal space necessary to implement the measures while also meeting the primary surplus target for this year and 2020.
Industrial turnover drops by 2.3 pct in May
Greece’s industrial turnover fell by 2.3 percent year-on-year (YoY) in May compared to a rise of 13.4 percent in April, Hellenic Statistical Authority (ELSTAT) data published on Friday showed.
Current account balance shows surplus of 300.6 mln in May
Greece’s current account (C/A) balance came to a surplus of 300.6 million in May from a deficit of 1.40 billion euros in April according to Bank of Greece (BoG) figures released on Friday.
New government holds first talks with creditors, may opt for cautious fiscal approach
Greek government officials held introductory talks with the representatives of the institutions on Thursday as New Democracy fleshes out its plans to address key economic issues.
Primary cash balance at deficit of 24 mln in Jun
Greece’s central government primary cash balance recorded a deficit of 24 million euros in the first six months of the year according to figures released by the Bank of Greece (BoG).
Travel balance surplus up by 29 pct in Q1 to reach 165 mln
The balance of travel services came to a surplus of 165 million euros for the first quarter (Q1) of 2019 according to figures released by the Bank of Greece (BoG).
Strong investor demand for 7-year bond, yield settles at record low of 1.9 pct
Greece’s debt management agency (PDMA) completed its debt issue strategy for 2019 with the issuance of a 2.5 billion, 7-year bond on Tuesday, which carried a coupon of 1.875 percent.
Lenders urge new government to meet fiscal targets as Athens issues 7-year bond
Just a few days after coming to office, the new government is aiming to take advantage of the positive sentiment in the markets by tapping investors with a 7-year bond.
Eurosystem funding rises by 539 mln in June, banknotes in circulation also up
Greek banks’ Eurosystem funding rose by 539 million euros month-on-month (MoM) in June according to the monthly Bank of Greece's (BoG) financial statement.
Budget primary surplus at 382 mln in June
The budget primary balance recorded a surplus of 382 million euros in the first six months of 2019, compared to a deficit of 46 million noted in June 2018, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Monday.