Macroeconomy
Deposits growth slows to 89 mln in Aug as corporations record back-to-back drops
The net private sector deposit movement in the Greek banking system in August slowed down further to 89 million euros, from 483 million euros in July, and a jump of 2.72 billion euros in June, based on Bank of Greece (BoG) figures released on Tuesday.
Budget primary balance to Aug beats target by almost 6 bln as VAT, income and property taxes drive revenue outperformance
The budget primary balance for the first eight months of 2022 came to a small surplus of 20 million euros, compared to a deficit of 6.38 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Monday.
Tourism jobs tumble in Aug, ending 6-month run of positive hirings balance
Greece’s employment balance moved into deep negative territory in August as there were 32,966 more departures than hires, according to data from the Labour Ministry’s Ergani information system.
PBO sees medium-term risks mounting, despite positive near-term outlook
The Parliament Budget Office (PBO) released on Thursday its latest report, for the second quarter of the year, and notes the relative positive picture in the near-term, despite the uncertain times due to the energy crisis. However, it notes a series of challenges and risks in the medium-term.
Travel receipts reach 8.55 bln up to July, balance of 7.71 bln beats 2019 record
Greece’s travel balance recorded a surplus of 3.52 billion euros in July, from 2.42 billion euros in June, according to Bank of Greece (BoG) data released on Wednesday.
Despite boost from travel, current account deficit hits 9.74 bln in Jul, up 43 pct YoY
Greece posted a current account (C/A) surplus of 1.1 billion euros in July, from a deficit of 722.9 million euros in June, Bank of Greece (BoG) data showed on Tuesday.
Energy pushes industrial turnover growth up by 38.9 pct YoY in Jul, as index records rare monthly drop
Greece’s industrial turnover remained on a solid growth path in July, jumping by 38.9 percent year-on-year (YoY), from a slightly revised 43 percent in June, according to data released by the Hellenic Statistical Authority (ELSTAT) on Monday.
Tax overperformance continues in Aug, as budget balance beats target by close to 6 bln
The budget primary balance up to August 2022 came to a small surplus of 10 million euros, compared to a deficit of 6.38 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Friday.
Property prices rise by 9.4 pct in Q2, close to all-time high
The rise in the nominal value of apartments in Greece remained strong in Q2 of this year, rising by 9.4 percent year-on-year (YoY), from an upwards revised 9.3 percent in Q1 2021, Bank of Greece (BoG) data released on Thursday showed.
Q2 unemployment drops to 12.4 pct, reflecting seasonality in job market
Greece’s non-seasonally adjusted quarterly unemployment rate resumed a downward path in Q2 this year, falling to 12.4 percent, from 13.8 percent in Q1, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.