Macroeconomy
Greece’s unstable and confusing tax system failing to deliver results
A report by the diaNeOsis research and policy institute has painted a troubling picture of Greece’s taxation system as the country nears it programme exit.
OECD highlights reforms and imbalances that need to be addressed
The Organisation of Economic Co-Operation and Development (OECD) issued on Monday its latest survey on Greece, which was also accompanied by a visit to Athens by Secretary General Angel Gurria during which he met the Greek Prime Minister and other officials.
PMI slows to 52.9 pts in April, sector confidence hits all-time high
Greece’s Manufacturing PMI dropped by 2.1 points to 52.9 in April, nearing almost one full year where the reading has stayed above the 50-mark threshold.
Strong deposit growth of 1.14 bln noted in March
Net deposit movement in the Greek banking system turned strongly positive in March, with inflows of 1.14 billion compared to inflows of 59 million in February, Bank of Greece (BoG) figures revealed on Monday.
Credit contraction at 1 pct in March, balance at 180.34 bln
Credit contraction in the Greek market came to 1 percent in March compared to a contraction of 0.9 percent in February according to Bank of Greece (BoG) figures released on Monday.
Retail sales drop by 0.4 pct in Feb, volume down by 0.1 pct
Greece’s retail sales declined by 0.4 percent year-on-year in February after January’s increase was revised down to 0.1 percent, according to data published by the Hellenic Statistical Authority (ELSTAT) on Monday.
Disposable income grows by 0.4 pct in Q4, final consumption shrinks by 0.6 pct
Greek household disposable income grew by 0.4 percent in the fourth quarter (Q4) of 2017, albeit declining from Q3’s increase of 0.8 percent, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Economic sentiment rises to 103.6 in Apr, consumer confidence rises by 4 pts
Greece’s economic sentiment (ESI) rebounded by 3.8 points to 103.6 in April compared to 99.8 in March, European Commission (EC) figures revealed on Friday.
Budget primary surplus confirmed at 2.37 bln in March, above target by 1.27 bln
The budget primary balance was confirmed at a surplus of 2.37 billion euros in the first three months of 2018, up significantly against last year’s figure of 1.07 billion euros, the Finance Ministry (MoF) final budget execution bulletin for March showed on Tuesday.
Credit standards and demand for corporate, household loans unchanged in Q1
Credit standards for both corporate and household loans stayed unchanged from the previous quarter in the first quarter (Q1) of 2018, in line with earlier expectations, the Bank of Greece (BoG) bank lending survey (BLS) showed on Tuesday.