MacroPolis

Draft budget sees EU funds fuelling recovery of 7.5 pct in 2021, after 8.2 contraction this year

The Finance Ministry tabled in Parliament on Monday the draft budget for 2021 in which the Greek authorities see a substantial recovery next year that will offset most of the losses suffered in 2020 due to the pandemic.

IMF sees GDP shrinking by 9.5 pct in 2020, warns about pace of fiscal consolidation

The International Monetary Fund (IMF) concluded on Friday its second post-programme monitoring mission, which took place remotely, by publishing the staff concluding statement.

Aegean Airlines reports losses in H1 while PPA, GEK Terna see reduced profitability

Aegean Airlines’ first half (H1) results for 2020 showed that revenues fell by 64 percent compared to the same time last year.

PMI rises to 50 points in September, signalling stabilisation

Greece’s manufacturing PMI increased to 50 points in September from 49.4 points in August, according to the latest data from Markit.

Latest air traffic data emphasises tourism's difficulties as 2019 data reveals bumper year

That latest air traffic data has highlighted what a terrible year the Greek tourism sector is going through, just as newly released 2019 figures highlighted an increase in arrivals and receipts last year.

Retail turnover drops by 3 pct in July for fifth straight negative reading

Greece’s retail sales index decreased by 3 percent in July following a downward revised drop of 3.3 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.

Greek businesses under pressure due to late payments, survey shows

Intrum has released its latest European Payment Report (EPR) which outlines how late payments impact the business outlook across Europe.

Consumer confidence drops by 6 pts as economic sentiment declines in September

Greece’s economic sentiment (ESI) dropped by 1.2 points month-on-month in September to reach 89.5 points, European Commission (EC) figures showed on Tuesday.

Greek housing market at new juncture as Covid-19 shakes foundations

By: Georgia Nakou

At the end of 2019, the Greek property market was showing signs of a gradual recovery from the battering it received in the country’s decade-long financial crisis, and 2020 looked set to continue the trend.

Budget primary confirmed at deficit of 5.48 bln in August

The budget primary balance recorded a deficit of 5.48 billion euros in the first eight months of 2020, compared to a surplus of 2.91 billion noted in August 2019, the final Finance Ministry (MoF) budget execution bulletin for August showed on Friday.