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GDP shows strong recovery from lockdowns with 3.4 pct growth QoQ in Q2
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP rose by 3.4 percent quarter-on-quarter (QoQ) in the second (Q2) quarter of the year, from a slightly upwards revised 4.5 percent in the first quarter (Q1) of 2021, provisional data from the Hellenic Statistical Auth...
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Industrial turnover jumps 31.6 pct in Aug as strong recovery is boosted by business abroad
EconomyMacroeconomyGreece’s industrial turnover continued its impressive recovery, jumping by 31.6 percent year-on-year (YoY) in August, following an increase of 25.1 percent in July, based on data from the Hellenic Statistical Authority (ELSTAT) released on Wednesday. Th...
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EC sees strong recovery in 2021, solid growth in coming years underpinned by RRF
EconomyMacroeconomyThe European Commission continued to revise upwards its estimates for Greek growth in 2021, moving up to 7.1 pct in the autumn forecasts released on Thursday, from 4.3 pct growth seen in the summer forecasts in July. The Greek economy is seen growing by...
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Despite strong exports, trade deficit ends 2021 33.8 pct higher
EconomyMacroeconomyGreece’s trade deficit maintained its upward momentum in December, rising by 79 percent year-on-year, from a jump of 93.1 percent in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday. The deficit came to 2....
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Despite strong annual growth, flow of loans to enterprises in Aug at lowest since Jan
EconomyMacroeconomyCredit movement in the Greek private sector gathered more pace in August, rising by 5.8 percent year-on-year (YoY), from 5.5 percent year-on-year in July and 4.5 percent rise in June, Bank of Greece (BoG) figures released on Tuesday showed. The growth i...
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Military chief caught in wiretapping affair's sights, prompting strong ND response
PoliticsGreek PoliticsIn line with the pattern of recent months, the week began with the government and SYRIZA arguing over an aspect of the surveillance scandal, this time concerning the chief of the Hellenic National Defence General Staff, Konstantinos Floros. On Sunday, l...
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Apartment prices rise in Q2 by a strong 13.9 pct YoY despite slight slowdown
EconomyMacroeconomyThe growth in the nominal value of apartments in Greece remained on a stolid path in Q2 2023, increasing by 13.9 percent year-on-year (YoY) from an upwards revised 15 percent in Q1 2023, Bank of Greece (BoG) data released on Tuesday showed. This is a sl...
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Seasonal factors lead to strong deposit growth of 6.4 bln euros in Dec
EconomyMacroeconomyThe net private sector deposits in the Greek banking system grew strongly, as is the seasonal trend, in December with a jump of 6.38 billion euros, after a negative movement of 747 million euros in November, based on the latest Bank of Greece (BoG) figu...
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NBG shows strong profitability growth of 38 pct YoY in Q1, with 606 mln NII
EconomyBankingNational Bank of Greece (NBG) reported a core profit after tax of 320 million euros in Q1 2024, compared to a profit of 220 million euros in the same quarter of 2023, a significant rise of 45 percent year-on-year (YoY). Attributable profit was 358 milli...
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Exports produce strong finish to 2024 but trade deficit up 8 pct to 34.61 bln
EconomyMacroeconomyGreece’s trade deficit dropped by 9 percent year-on-year (YoY) at the close of 2024, after a rise of 18.7 percent in November, according to data released by ELSTAT on Friday. The deficit came to 3.109 billion euros for December. Imports totalled 7.13 bi...
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