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Government tones down fiscal pledges as tighter framework starts to bite

The tight fiscal framework imposed by the new Stability and Growth Pact rules and Greece's long-standing commitment to primary surpluses above 2 pct of GDP for decades are catching up with the Greek government, as the window that allowed for handouts and support initiatives thanks to the escape clause is now firmly closed.

Photo via Flickr Import price drop slows further to 2.8 pct in Feb

Greece’s import price index remained in contraction in February, falling by 2.8 percent year-on-year (YoY), after dropping by 6.4 percent in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.

Photo by MacroPolis Car sales contract in March, up 4 pct YoY in Q1

Road motor vehicles going into circulation for the first time contracted by 9.2 percent year-on-year (YoY) in March, after a strong growth rate of 21.2 percent in February, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.

Photo by Panayotis Tzamaros/Fosphotos CPI accelerates again in March, rising by 3.2 pct YoY and 1.5 pct MoM

The growth in Greece’s Consumer Price Index (CPI) increased marginally in March, with a rise of 3.2 percent year-on-year (YoY), after an increase of 2.9 percent in February, according to the data released on Wednesday by the Hellenic Statistical Authority (ELSTAT).

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