Economy
Q4 GDP contracts 0.4 pct QoQ, growth of 0.3 pct in 2016
Greeces’ seasonally adjusted (SA) GDP fell by 0.4 percent quarter on quarter (QoQ) in the fourth quarter (Q4) of 2016, after an upward revised growth of 0.9 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) flash estimates revealed on Tuesday.
Greece cleared arrears of 3.1 billion in 2016
The Greek government cleared arrears to the private sector of 565.6 million in December, according to figures published by the Finance Ministry (MoF) on Monday.
Building activity down 1.4 pct in November
Greek building permits edged down 1.4 percent in November after dropping by 5.7 percent in October, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
European Commission positive on Greece's macro and fiscal prospects
Greece is showing signs of recovery and its economy is expected to strongly rebound as of 2017 if the second programme review is completed, the European Commission (EC) notes in its winter economic forecasts published on Monday.
Greek banks stepped up write-offs in 2016, provisions increased at slowest pace since 2008
Greek banks stepped up the number of write-offs in 2016 compared to the previous years, the Bank of Greece (BoG) revealed.
Stocks fall for fifth straight week, edging down 0.8 pct
The Greek equity market continued heading south this week, remaining weak until Thursday amid the lack of any progress in negotiations with lenders on the second programme review.
IMF examines how Greece accumulated large pile of unpaid taxes and contributions
The issue of Greece’s exceptionally high tax and social security debt is discussed in an International Monetary Fund paper published with the release of the Article IV consultation and ex-post evaluation earlier this week.
IMF argues case for further reform of pension system
One of the issues discussed in a recent International Monetary Fund paper deals with the Greek pension system and notes that the most recent reform goes in the right direction since it removes some distortions and reduces the overall pension cost.
Apartment prices drop 0.6 pct in Q4 and 2.2 pct overall in 2016
Apartment prices in Greece dropped at a decelerating pace of 0.6 percent in the fourth quarter (Q4) of 2016, following a decline by 1.5 percent in Q3, Bank of Greece (BoG) data showed on Thursday.
Industrial production rises at slightly faster pace of 2.2 pct in Dec
The Greek Industrial Production Index (IPI) increased by 2.2 percent in December after a downward revised growth of 2 percent in November, Hellenic Statistical Authority (ELSTAT) data showed on Monday.