Economy
May cash deficit improves markedly YoY as revenues rise by 3.5 bln
Greece’s central government recorded a primary cash deficit of 842 million euros in May, from a deficit of 2.09 billion euros in the same month of 2021, according to figures released by the Bank of Greece on Friday.
Industrial turnover grows 33.3 pct YoY in Apr, but manufacturing leads monthly drop
Greece’s industrial turnover growth remained solid in April, rising by 33.3 percent year-on-year (YoY), from 38.4 percent in March, according to data released by the Hellenic Statistical Authority (ELSTAT) on Monday.
Travel balance back to normal, but Apr C/A deficit of 1.62 bln impacted by goods deficit
Greece posted a current account (C/A) deficit of 1.62 billion euros in April, from a 2.33-billion-euro deficit in March, Bank of Greece (BoG) data showed on Monday.
Wages index down by 1.9 pct in Q1, records back-to-back annual drops
Greece’s seasonally adjusted (SA) Wages Index stayed in negative territory in the first quarter of 2022, dropping by 1.9 percent year-on-year (YoY), after a revised drop of 1.5 percent in the last quarter of 2021, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Quarterly unemployment rises to 13.8 pct in Q1, reflecting off season for tourism
Greece’s non-seasonally adjusted quarterly unemployment rate maintained an upward trajectory in the first quarter of the year, rising to 13.8 percent, from 13.2 percent in Q4 2021, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Budget primary balance to May beats target by wide margin, taxes continue to outperform
The budget primary balance for the first five months of 2022 came to a deficit of 1.49 billion euros, compared to a deficit of 8.14 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Wednesday.
Import price index posts record rise of 39.1 pct in Apr, driven by energy
Greece’s import price index continued at an accelerated pace in April, posting another solid rise of 39.1 percent year-on-year (YoY), from 34.6 percent in March, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
Unemployment rate steady at 12.5 pct in Apr, employment continues to grow YoY
Greece’s seasonally adjusted (SA) unemployment rate dropped marginally to 12.5 percent in April, from an upwards revised 12.6 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Property prices continue on upward trajectory with 8.6 pct rise in Q1
The rise in the nominal value of apartments in Greece slowed slightly to 8.6 percent year-on-year in Q1 of this year, from an upwards revised 9.5 percent in the last quarter of 2021, Bank of Greece (BoG) data released on Tuesday showed.
Rising bond yields a concern, but not an immediate fiscal problem
Greece’s rising bond yields have begun attracting attention domestically and internationally as the low-yield environment becomes a thing of the past. Although these developments are justifiably causing some concern, they should not at this stage be the cause of excessive anxiety, especially in the fiscal context.