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Significantly improved oil balance pushes current account to 196.5 mln surplus in May
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Industrial turnover resumes growth after 3 months, rising by 2.6 pct YoY in May
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Strong tax revenues, underspend push primary surplus 2.43 bln above target up to June
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Energy drives drop of 4.2 pct YoY in import prices drop for June
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Car sales rise by 6 pct YoY in Jun, up 3.1 pct in first half of year
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Energy at forefront of 2 pct decline for industrial production in May
BoG cautions on impact of tax rises, updates on rising NPEs
In its monetary policy report released on Wednesday, the Bank of Greece (BoG) says that it expects the completion of the first programme review will restore confidence, boost liquidity and improve the investment environment in the second half of the year, while a marginal recession of 0.3 percent is foreseen for 2016.
On debt, the report stresses that sensible debt relief measures may include, extension of maturities, smoothing of interest payments over time, restoration of SMP and ANFA transfers and swap of IMF loans with European Stability (ESM) loans.
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