Macroeconomy
Current account balance turns to deficit of 198 mln in Oct
Greece’s current account (C/A) balance turned to a deficit of 198.4 million euros in October 2016 from surplus of 264.8 million in the corresponding period last year, Bank of Greece (BoG) figures showed on Wednesday.
Industrial turnover on downward trend again after 2.8 pct drop in Oct
Greece’s Turnover Index in Industry fell by 2.8 percent in October after an upward revised increase of 9.9 percent in September, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
The significant increase in the use of debit and credit cards after the imposition of capital controls in July 2015 is having a positive impact on VAT revenues by improving collectability, the Bank of Greece (BoG) concludes in its interim monetary policy report published last Friday.
Primary cash surplus to Nov at 3.6 bln, including arrears repayment of 3.4 bln
Greece’s central government primary cash surplus dropped to 3.58 billion euros in the 11-month period of 2016 from 4.48 billion in the corresponding period last year ago, Bank of Greece (BoG) figures showed on Monday.
Bank of Greece study finds one in six local firms is strategic defaulter
In a separate section of the interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) discussed the issue of corporate strategic defaulters i.e. companies that have stopped servicing their loans despite having the ability to make the payments.
Bank of Greece sees potential for recovery, urges calm in negotiations
In its interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) called for a swift conclusion to the second programme review and implementation of reforms and privatisations.
Turnover in services sector improves in Q3
The majority of the turnover indices for the services sector rebounded year on year in the third quarter (Q3) of 2016, Hellenic Statistical Authority (ELSTAT) figures displayed on Thursday.
Unemployment rate drops again in Q3, reaching 22.6 pct
The Greek non-seasonally-adjusted unemployment rate fell again in the third quarter (Q3) of 2016 to 22.6 percent from 23.1 percent in Q2, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Budget primary surplus to Nov reaches 7.4 bln on continued strong revenue performance
Greece’s budget primary surplus climbed to 7.45 billion euros in the 11-month period of 2016, up by 71.7 percent from last year’s figure of 4.34 billion, the Finance Ministry (MoF) preliminary budget execution bulletin revealed on Wednesday.
Eurosystem funding drops by 3.3 bln in Nov for 17th straight monthly fall
Greek banks’ Eurosystem funding fell by another 3.3 billion euros in November, after a broadly similar drop of 3.53 billion in October, Bank of Greece's (BoG) monthly financial statement showed on Tuesday.