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BoG highlights how Covid-19 compounds legacy issues and structural challenges
Economywas already slowing down from the first quarter of the year when GDP dropped by 0.9 pct on an annual basis... their downward trajectory in the first quarter of the year at roughly 61 billion euros, down by 7.6... with further actions to reduce NPEs and the profitability is already taking a blow, down by 87 pct
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Rise in "imported" Covid-19 cases a source of jitters for tourism industry
PoliticsGreek Politicshas slowed down considerably over recent weeks, with the exception of highly localised outbreaks.... Industry participants in the region now expect tourism this year to be down to just 20 percent... season, down from 18 billion euros in 2019. Arrivals at Athens International Airport, the biggest
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Newsletter 258 -07/17/2020
pension backpay The government has played down concerns about a second wave of Covid-19 Greece... of air passengers was down by 93 percent to just 588,186 from nearly 8.4 million last year. The number of fights was down by 74 percent to 17,049, from 66,827 in 2019. Over the first six months
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Newsletter 259 -24/07/2020
that visitors from Germany fell by 99.7 percent to around 1,400. Those from France were down by 100... compared to last year. Broken down, 96.9 percent of hotels that operate year-round expect turnover... declined by 97.7 percent. Travel payments came to 4 million, also down 98.2 percent. Industrial turnover
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GDP falls by 14 pct QoQ in Q2 and by 15.2 pct YoY to reach historic low
EconomyMacroeconomyimports fell by 16.7 percent. Final consumption expenditure edged down by 9.3 percent QoQ compared... down by 0.7 percent in Q1. General government consumption rose by 1.5 percent QoQ and fell by 3.2... in 2021. Imports Breaking down the components of imports in Q2, imports of goods decreased by 14.7
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Banks remain largely profitable in Q2, with focus on NPL reductions
EconomyBankingbps QoQ. The domestic non-performing loan (NPL) edged down to 7.1 billion euros in Q2 from 7.5.... The group NPL ratio stood at 30.2 percent, down from 32.7 percent a year ago. The NPL coverage... totalled 11.78 billion euros of the bank’s total gross loans of 40.58 billion in H1, down by 16.8
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Greek housing market at new juncture as Covid-19 shakes foundations
EconomyFeatureswell whittle down the pool of potential applicants. The short-term rental market also started showing signs of a slow-down prior to the pandemic. Between the peak of Q3 2019 and Q2 2020, over 2,200... by Kathimerini newspaper. Stricter tax enforcement may have also contributed to the slow-down in short
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Alpha Bank Q3 results reflect net profits of 43.8 mln
EconomyBankingof the transaction. After the Galaxy transaction, Alpha Bank’s NPL ratio in Greece will be down to 13... in Q3, down by 2.3 percent QoQ. Management said that this was due to the lower income from loans... funding mix. On an aggregate basis, NII came to 1.15 billion euros, edging down by 0.6 percent YoY
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PM on defensive over Covid-19 stance as debate rages over testing
PoliticsGreek Politicsaccused New Democracy of having “criminal responsibilities” for the crisis, which he put down... that he had received no advice to lock down earlier. The prime minister also sought to deflect... for the purpose of exercise, while he put the lapse down to “a moment of relaxation”. While Mitsotakis claimed
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Slight easing of Covid-19 data as focus turns to retail, budget
PoliticsGreek Politicsan online shop and the ones with a complete e-commerce solution are down to single digit percentage... down due to state-imposed measures and another 600,000 have been affected in some way by the measures... hirings, down by 89,008 compared to last year. Layoffs were also lower by 89,634. Budget debate
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