Macroeconomy
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF upgrades Greece’s GDP and unemployment rate estimates
In its latest World Economic Outlook (WEO) published on Tuesday, the International Monetary Fund was upbeat in its estimates regarding Greece’s GDP and unemployment rate, upgrading its previous forecasts released on April 12.
Broadly stable rate in time deposits, corporate loan rates fall in Aug
Greek households’ new time deposit rate edged up by 1 basis point (bp) to 0.87 percent in August from 0.86 percent in the previous two months, Bank of Greece (BoG) data displayed on Tuesday.
Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
The Finance Ministry (MoF) tabled in Parliament’s Economic Affairs Committee on Monday the 2017 draft budget, which contains its fiscal estimates and the interventions needed to achieve them, as well as the underlying macro assumptions.
PMI slips to contraction territory in September on lower production and new orders
Greece’s Manufacturing PMI fell by 1.2 points to 49.2 in September from 50.4 in August, Markit survey displayed on Monday. This was the sixth sub-50 reading in the course of 2016.
Retail sales rebound by 7.1 pct in July for first time in thirteen months
The turnover of Greece’s retail trade index strongly rebounded by 7.1 percent in July after a drop of 5.2 percent in June, Hellenic Statistical Agency (ELSTAT) figures displayed on Friday.
Economic sentiment falls to 91.4 pts in September, consumer confidence notably rebounds
The economic sentiment (ESI) in Greece fell by 1.1 points in September after improving in the previous two months, the European Commission (EC) figures displayed on Thursday.
New overdue taxes climb 1.4 bln in Aug, total stock edges up to 91.6 bln
Greece’s new tax debt climbed to 1.37 billion euros in August from 811 million in July, General Secretariat of Public Revenues (GSPR) data shows.
Credit contracts by 1.7 pct in August, loans balance at its lowest since 2007
Credit contraction in the Greek market slightly accelerated to 1.7 percent in August from 1.6 percent in the previous month, Bank of Greece (BoG) figures displayed on Friday.
Deposits grow by 1.3 bln in August, highest inflow in 2016
Deposit flow in the Greek market turned positive with inflows of 1.33 billion in August from outflows of 153 million in July, Bank of Greece (BoG) figures showed on Tuesday. The headline figure indicates the highest positive flow in the course of this year.
Budget execution to Aug shows 3.8 bln primary surplus, 2.8 bln better than target
Greece’s budget primary surplus slipped 1.2 percent to 3.75 billion euros in the 8-month period of 2016 from 3.8 billion a year ago, the Finance Ministry (MoF) final budget execution bulletin showed on Tuesday.