Macroeconomy
Trade deficit grows by 15.1 pct in August and falls by 1.8 pct in 8-month period
Greece’s trade deficit grew by 15.1 percent year-on-year (YoY) in August compared to an increase of 34.5 percent in July, according to data from the Hellenic Statistical Authority (ELSTAT) released on Monday.
General govt primary cash surplus at 3.51 bln in August, arrears fall by 306 mln
Greece’s general government (gg) primary cash surplus came to 3.51 billion euros in the first eight months of the year, reduced by 750 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
FinMin sets out how it would alter policy mix to prevent pension cuts
In its efforts to avoid the politically sensitive issue of cutting pensions further, the Finance Ministry presented in the draft budget this week an alternative scenario consisting of a significantly different fiscal policy from the one included in the Medium-Term Fiscal Strategy (MTFS) this summer.
Draft budget contains two scenarios on pensions, charts course within agreed fiscal targets
The Finance Ministry (MoF) tabled on Monday afternoon in Parliament’s Economic Affairs Committee the draft budget for 2019, which contains its fiscal estimates as well as the underlying macro assumptions.
Manufacturing PMI dips slightly to 53.6 pts in September as sentiment remains strong
Greece’s Manufacturing PMI declined slightly to 53.6 points in September from 53.9 points in August, staying over the 50-mark threshold for almost a year and a half as confidence in the sector continues to hold.
Retail turnover in July up by 4 pct as volume rises 2.5 pct
Greece’s retail sales index increased by 4 percent in July after June’s figure was slightly revised down to 3.1 percent, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Greece moves closer to lifting all capital controls as limits on cash withdrawals removed
Greece’s Finance Ministry (MoF) announced late on Thursday that further relaxations were being applied to the capital controls imposed in the summer of 2015 as the government pushes to abolish them completely in the coming months.
Deposit inflows reach 1.30 bln in August on increased sight deposits
Net deposit movement in the Greek banking system strengthened in August with inflows of 1.30 billion from 840.6 million in July, Bank of Greece (BoG) figures revealed on Thursday.
Credit contraction stays at 1.5 pct in August, balance reaches 177.44 bln
Credit contraction in the Greek market came to 1.5 percent in August, unchanged from July, Bank of Greece (BoG) figures showed on Thursday.
Economic sentiment drops in September to 101.3, consumer confidence picks up
Greece’s economic sentiment (ESI) fell by 3.9 points to 101.3 in September compared to 105.2 in August, European Commission (EC) figures revealed on Thursday.