Economy
Government hopes offer of tax breaks and grants will spark growth boost
The Economy Ministry tabled in Parliament on Thursday evening the long-awaited Economic Development Law that the government hopes will boost productivity and growth.
ECB holds off on reinstating Greek waiver, waits for completion of prior actions
Despite expectations to the contrary, the European Central Bank’s governing council did not reach a decision on Thursday regarding the reinstatement of waiver on Greek government securities.
Government tables amendments with aim of securing bailout tranche within days
The government tabled in Parliament on Wednesday evening four amendments regarding most, but not all, of the pending prior actions required for the disbursement of the next bailout tranche of 7.5 billion euros.
Access to finance remains far bigger problem for Greek SMEs compared to euro area peers
The latest ECB semi-annual survey on the access to finance of enterprises for the six months ending in March 2016 showed that Greek SMEs continue facing the most notable obstacles in financing among their eurozone peers.
OECD sees economy picking up from second half of 2016, underlines need for reforms
In its latest economic outlook published on Wednesday, the OECD says it expects the Greek economy to recover in the second half of 2016.
Marginal net losses of 2 mln for Alpha in Q1
Alpha was the last of the four core Greek banks that released its first quarter (Q1) results this week, showing a marginally negative bottom line of 2.2 million euros from 115.8 million in the corresponding period last year.
PMI drops to 48.4 in May, new orders down at sharpest pace in 8 months
Greece’s Manufacturing PMI fell by 1.3 points to 48.4 in May after rising in the preceding two months, the Markit survey showed on Wednesday.
Credit contraction decelerates to 1.9 pct in April, loan deductions drop to 117 mln
Greek bank credit contraction slowed down for the second straight month to 1.9 percent in April from 2.1 percent in March, Bank of Greece (BoG) figures showed on Tuesday.
Marginal deposit flow in April for second straight month
Greek private sector deposit flow remained minimal for the second straight month with the system recording outflows of just 40 million in April from inflows of 55 million in March, Bank of Greece (BoG) data showed on Tuesday.
Retail sales fall by 4.3 pct in March for tenth straight decline
The turnover of Greece’s retail trade index dropped at a slower pace of 4.3 percent in March from an upward revised 7.6 percent in February, Hellenic Statistical Agency (ELSTAT) figures showed on Thursday.