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Trade deficit growth slows to 4 pct YoY in July driven by oil and non-EU markets
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Q2 GDP moderates further to 1.7 pct YoY as households spending slows
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Jobs in education lead negative hiring balance of 20,728 in July
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Seasonal factors take unemployment rate to 8.6 pct in Q2 - lowest since 2008
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ELSTAT resumes monthly unemployment updates after review, rate at 8 pct in July
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PMI improves significantly in Aug, despite exports orders falling for four straight months
Budget exudes fiscal stability, but hints at political complications
Last week’s five-day debate on the 2025 budget concluded on Sunday without any complications for the government, and the economic plan is certainly in line with the Greek authorities’ narrative that stabilising the economy is one of the current administration’s strongest achievements.
This can be considered the first budget of stability since Mitsotakis assumed office, as the first full year of his term was quickly undermined by the pandemic, which was followed by the Ukraine conflict in early 2022, then the energy crisis and the inf...
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