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Jobs in tourism push May hiring balance upwards
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PBO sees resilience in economy, revises growth outlook slightly down
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Unemployment slides to 8.1% in May as male and youth rates improve
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Manufacturing PMI improves slightly in June, cost and export challenges persist
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Energy continues to drive rise in producer prices as May sees 13.5% YoY increase
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Retail sales growth slows to 4% YoY in Apr, volumes drop as fuel consumption decreases
Pension policy U-turn highlights government’s election concerns
There are increasing signs that the upcoming elections are playing a dominant role in the Greek government’s decision‑making process, and last week’s decision to scrap an intervention on bereavement support (known in Greece as “widows’ pensions”) sends a strong signal that the prospect of calling snap polls after the summer is not a remote possibility.
The pension reform implemented by the previous SYRIZA‑led administration, known as the Katrougalos law, stipulated that widows who either work or receive another pension should see their benefit fall from 70% to 35% of the deceased person’s pension.
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