Macroeconomy
Central govt debt rises again in Q4, reaching 388.3 bln euros
Greece’s central government debt increased by roughly 2 billion euros in the last quarter of 2021 to 388.34 billion euros, from 386.82 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Friday.
Central govt primary cash deficit narrows appreciably to 429 mln in Jan
Greece’s central government recorded a primary cash deficit of 429 million euros in January, from a deficit of 1.6 billion euros in the same month of 2021, according to figures released by the Bank of Greece on Thursday.
Traditional sectors carry burden of job creation as unemployment levels fall
Having weathered the pandemic over the last two years, Greece’s labour market remains on the recovery path it has been following since July 2013, when monthly unemployment rate peaked at 28 pct and 1.36 million Greeks were out of employment.
Unemployment falls to 12.8 pct in Dec as jobless number drops to lowest since March 2010
Greece’s seasonally adjusted (SA) unemployment rate dropped further in December to 12.8 percent, from an upwards revised 13.4 percent in November, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Jan budget execution impacted by unplanned pandemic spending and snowstorm
The budget primary balance for the first month of 2022 came to a small surplus of 17 million euros, compared to a deficit of 1.47 billion euros in the same month last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.
CPI reaches 6.2 pct in Jan as inflation hits highest since late 1990s
Greece’s Consumer Price Index (CPI) picked up further pace in January, rising by 6.2 percent year-on-year (YoY), following a 5.1 percent increase in December, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Tuesday.
Car sales drop by 8.7 pct in Jan for first drop since Feb 2021
Road motor vehicles going into circulation for the first time dropped by 8.7 percent year-on-year (YoY) in January, following a rise of 21.4 percent in December, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
IPI rise of 8.1 pct in Dec marks full year of growth, totalling nearly 10 pct
Greece’s Industrial Production Index (IPI) recorded another notable rise of 8.1 percent year-on-year (YoY) in December, from an upwards revised 8.4 percent annual increase in November, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Despite strong exports, trade deficit ends 2021 33.8 pct higher
Greece’s trade deficit maintained its upward momentum in December, rising by 79 percent year-on-year, from a jump of 93.1 percent in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
Inflation to persist, creating more economic policy challenges
It has become increasingly evident that the inflation clouds which started gathering above the Greek economy since June last year are not going anywhere soon as the authorities had hoped when they started announcing a series of support initiatives for households and businesses several months ago.