Economy
Bridge scheme activated as banks look to avoid second-wave NPL increase
The ‘Bridge’ scheme for mortgage subsidies, which will subside up to 90 percent of payments from eligible individuals, has been activated as part of a number of mechanisms to relieve pressure on borrowers hit by the coronavirus pandemic.
Employment balance negative by 33,356 in October as seasonality affects education and tourism hires
The employment balance was negative with 33,356 more firings than hirings in October, data from the Labour Ministry’s Ergani information system showed.
CPI falls by 1.8 pct YoY in October as air travel and energy drop
Greece’s Consumer Price Index (CPI) fell by 1.8 percent year-on-year (YoY) in October compared to a decline of 2 percent seen in September, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.
In negative territory for 12 straight months, industrial production drops by 2.4 pct in Sept
Greece’s Industrial Production Index (IPI) decreased by 2.4 percent year-on-year (YoY) in September following a revised decrease of 4 percent in August, Hellenic Statistical Authority (ELSTAT) data revealed on Monday.
Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
In an unexpected move on Friday night, Moody’s upgraded Greece’s credit rating by one notch to ‘Ba3’ from ‘B1’, while it kept the outlook stable.
General govt primary cash deficit at 7.01 bln in Sept, arrears up by 113 mln
Greece’s general government (gg) primary cash deficit came to 7.01 billion euros in the first nine months of the year compared to a surplus of 4.53 billion in the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Trade deficit falls by 24 pct in Sept despite slight uptick in exports to EU
Greece’s trade deficit fell by 24 percent year-on-year (YoY) in September compared to a drop of 27.1 percent in August, data from the Hellenic Statistical Authority (ELSTAT) released on Friday showed.
Hellenic Petroleum and Mytilineos show muted performance in 9M
Greece’s largest oil refinery, Hellenic Petroleum’s financial results for the nine-month period (9M) of the year show that the group’s sales fell by 34 percent.
EC forecasts 9 pct dip followed by 5 pct recovery but new lockdown not factored in
The European Commission published on Thursday the economic forecasts for Europe within the context of the 2020 autumn forecasts.
Unemployment at 16.8 pct in Aug as inactives rise by 2.9 pct YoY
Greece’s seasonally adjusted (SA) unemployment rate came to 16.8 percent in August from a slightly upward revised figure of 17 percent in July, Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.