General govt primary cash deficit at 720 mln in January, as social security funds start year in deficit
Greece’s general government (gg) primary cash deficit came to 720 million euros in January compared to a surplus of 878 million euros in the same month of in 2020, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Greece’s seasonally adjusted (SA) GDP rose by 2.7 percent quarter-on-quarter (QoQ) in the fourth quarter (Q4) of 2020 after an upward revised increase of 3.1 percent in the previous quarter, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
The number of enterprises in Greece that closed last year fell by more than a fifth last year, while the number of new start-ups was virtually unchanged from the year before, according to data from the Hellenic Statistical Authority.
Piraeus Bank and Alpha Bank are both moving forward with actions this week to continue strengthening their balance sheets, with the former extending its ongoing partnership with Swedish loan servicer Intrum AB.
Greece’s manufacturing PMI dropped to 49.4 points in February from 50 points in January, according to the latest data from Markit.
The Hellenic Telecommunications Organization S.A (OTE Group) has reported that revenue in 2020 fell by 1.3 percent year-on-year (YoY).
Greece’s largest oil refiner, Hellenic Petroleum, said it expects more Covid-induced delays in the privatisation of the country’s gas utility, DEPA, with binding bids for the state-asset sale due this month.
Greece’s retail sales index decreased by 12.3 percent in December following a revised drop of 8.5 percent in November, Hellenic Statistical Authority data showed on Friday.
The budget primary balance recorded a deficit of 1.47 billion euros in the first month of 2021, compared to a surplus of 495 million noted in January 2020, the final Finance Ministry (MoF) budget execution bulletin for January showed.
Credit movement in the Greek private sector rose an annual 3.7 percent in January after an increase of 3.5 percent in December, Bank of Greece (BoG) figures showed on Thursday.