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Significantly contained spending pushes July primary surplus 4.36 bln above target
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Energy continues to drive import price drop as June records 4.7 pct YoY fall
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Car market still buoyant as sales rise by 2.8 pct YoY in July
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Mining drives growth of 0.5 pct YoY in industrial production for June
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CPI accelerates to 3.1 pct YoY in July, rents up 11.3 pct
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Trade deficit rises sharply in June as exports continue to fall
Bank of Greece warns of dangers in failure to reach deal with lenders
In its biannual Monetary Policy report published on Wednesday, the Bank of Greece (BoG) makes clear its belief that it is of paramount importance that the Greek government conclude an agreement with official lenders, describing it is a “historical imperative the country cannot afford to ignore.”
According the central bank, the policies that would have to be adopted to ensure a definitive exit from the crisis and a shift towards a new export-oriented model include:
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