Macroeconomy
General govt primary deficit at 3.87 bln in March; spending soars
Greece’s general government (gg) primary cash deficit came to 3.87 billion euros in the first three months of the year, compared with a surplus of 1.14 billion euros in the same period of 2020, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Trade deficit rises by 27.1 pct in March as imports surge
Greece’s trade deficit rose by 27.1 percent year-on-year (YoY) in March compared to a drop of 33.2 percent in February, data from the Hellenic Statistical Authority (ELSTAT) released on Monday showed.
Industrial production up by 5.5 pct in March
Greece’s Industrial Production Index (IPI) rose by 5.5 percent year-on-year (YoY) in March following a revised increase of 4.3 percent in February, Hellenic Statistical Authority (ELSTAT) data revealed on Monday.
Stability Programme reflects subdued expectations for 2021, high hopes for 2022 onwards
Greece has submitted to the European Council and Commission its Stability Programme for the period 2022 -2024, which is based on the activation of the general escape clause that allows temporary violations of fiscal commitments due to the pandemic.
PMI rises to 54.4 points in April, highest since February 2020
Greece’s manufacturing PMI rose to 54.4 points in April from 51.8 points in March, according to the latest data from Markit.
Credit growth in March slows to 2.9 pct; monthly inflow 403 mln
Credit movement in the Greek private sector rose an annual 2.9 percent in March, compared with 3.7 percent in February, Bank of Greece (BoG) figures showed on Thursday.
Deposits rose by 1.66 bln in March to highest since 2012
Net deposit movements in the Greek banking system were positive by 1.66 billion euros in March, compared with inflows of 741 million euros in February, Bank of Greece (BoG) figures revealed on Thursday.
Retail turnover drops by 3 pct and volume by 1.8 pct in February
Greece’s retail sales index decreased by 3 percent in February following a revised drop of 3.8 percent in January, Hellenic Statistical Authority data showed on Thursday.
Construction revels as economic sentiment, consumer confidence rise further in April
Greece’s economic sentiment (ESI) rose by 1 point month-on-month in April to 97.9, following a five-point rise in March, European Commission figures showed on Thursday.
FinMin sees favourable macro environment from next year, boosted by RRF
As part of the wider effort to change the narrative that has often brought the government in an awkward spot during the pandemic handling since last summer, the finance minister presented at the cabinet meeting on Monday the objectives and policies that will restart the Greek economy.