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Despite small drop in July, deposits stay above 200 bln mark
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Consumer and retail confidence deteriorate further in Aug due to cost of living
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Construction shows first signs of recovery in 2025 as building activity rises 31.6 pct YoY in May
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Primary balance up to July confirmed at 7.94 bln due to underspend, tax revenues
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Travel receipts rise by 8.8 pct YoY in June, arrivals drop marginally
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Central government debt rises to 403.2 bln in Q2, cash reserves near 42 bln
Greece's fiscal path becoming clearer; sizeable adjustment lies ahead
After two years of fiscal relaxation across the eurozone thanks to the activation of the escape clause, allowing fiscal rules to be eased so governments could cushion the blow of the pandemic, Greece’s future fiscal path started to take shape over the last few days.
The country’s fiscal commitment was defined at the end of the third programme in 2018 and was incorporated into the Greek debt sustainability analysis (DSA) that was carried out by the European Commission soon afterwards.
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