Macroeconomy
IMF expects modest recovery, lingering debt but primary surplus to return swiftly
Within the context of its Spring meetings, the IMF updated its macroeconomic and fiscal estimates for Greece in the World Economic Outlook and the Fiscal Monitor publications.
Trade deficit falls by 33.2 pct in February
Greece’s trade deficit fell by 33.2 percent year-on-year in February compared to a drop of 23.2 percent in January, data from the Hellenic Statistical Authority released on Wednesday showed.
General govt primary cash deficit at 1.99 bln in February; arrears jump
Greece’s general government (gg) primary cash deficit came to 1.99 billion euros in the first two months of the year, compared with a surplus of 1.42 billion euros in the same period of 2020, according to the Finance Ministry’s monthly gg bulletin.
PMI rises to 51.8 points in March, first expansion in over a year
Greece’s manufacturing PMI rose to 51.8 points in March from 49.4 points in February, according to the latest data from Markit.
Retail turnover drops by 5 pct and volume by 3 pct in January
Greece’s retail sales index decreased by 5 percent in January following a revised drop of 12.8 percent in December, Hellenic Statistical Authority data showed on Wednesday.
Economic sentiment rises to 96.9 points in March as all sectors improve
Greece’s economic sentiment rose by 5 points month-on-month in March to reach 96.9 points, European Commission figures showed on Tuesday.
Budget primary deficit confirmed at 1.5 bln in Feb, beating target
The budget primary balance recorded a deficit of 1.5 billion euros in the two month of 2021, compared with a surplus of 831 million in the same period of 2020, the preliminary Finance Ministry (MoF) budget execution bulletin for February showed.
Credit growth in February unchanged 3.7 pct; monthly flows resume growth
Credit movement in the Greek private sector rose an annual 3.7 percent in February, the same rate as in January, Bank of Greece (BoG) figures showed on Friday.
Deposits rose by 741 mln in February, led by higher sight savings
Net deposit movements in the Greek banking system were positive by 741 million euros in February, compared with outflows of 1.19 billion euros in January, Bank of Greece (BoG) figures revealed on Friday.
Employment balance positive by 27,233 in Feb; highest since Sept
The employment balance was positive with 27,233 more hirings than people leaving their jobs in February, data from the Labour Ministry’s Ergani information system showed.