Economy
Athens takes heart from Gentiloni, Lagarde comments but still has distance to cover
During the first visit to Athens of the new Economic Affairs Commissioner Paolo Gentiloni, the Greek government stepped up its efforts to secure more fiscal space that will allow it to continue its policy of tax cuts.
Trade deficit falls by 7.2 pct in December and rises by 5.2 pct in 2019
Greece’s trade deficit dropped by 7.2 percent year-on-year (YoY) in December compared to a rise of 7 percent in November, data from the Hellenic Statistical Authority (ELSTAT) released on Friday showed.
Unemployment continues decrease in Nov, falling to 16.5 pct
Greece’s seasonally adjusted (SA) unemployment rate came to 16.5 percent in November from 16.6 percent in October, Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
General govt primary cash surplus at 9.45 bln in Dec, arrears fall by 195 mln
Greece’s general government (gg) primary cash surplus came to 9.45 billion euros across 2019, up by 3.73 billion euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Overall loan interest remains at 4.34 pct in December
The overall weighted average interest rate on all new loans to households and non-financial corporations remained at 4.34 percent in December, unchanged from November, data from the Bank of Greece (BoG) showed on Tuesday.
Greek banks eye positive market appetite for bad loan sales
Ahead of the EU’s stress tests and improving sentiment, Greece’s banks have begun making further inroads into their plans for reducing bad loans on their books.
Banks gear up for 2020 stress tests as evaluation begins
The European Central Bank (ECB) announced last Friday the beginning of the stress test process for 2020, an EU-wide exercise that will be led by the European Banking Authority (EBA) and will examine 35 significant euro area banks, which are directly supervised by the ECB and cover 70 percent of banking sector assets in the eurozone.
PMI at 54.4 points in Jan as employment growth hits all-time high
Greece’s manufacturing PMI increased to 54.4 points in January from 53.9 points in December, according to the latest data from Markit PMI.
Retail turnover increases by 4.1 pct in Nov, volume up by 3.1 pct
Greece’s retail sales index increased by 4.1 percent in November following a rise of 6.6 percent in October, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment at 108.4 in Jan
Greece’s economic sentiment (ESI) fell by 1 point in January to reach 108.4 points, European Commission (EC) figures showed on Thursday.