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  1. General gov't cash primary surplus to May halves, arrears keep rising

    EconomyMacroeconomy

    , albeit at a slower rate, by 4.5 percent month on month (MoM) in May from 9 percent in April. The increase... showed arrears reached 5.04 billion at the end of May from 4.82 billion in April. This means that creation of arrears almost halved in May to 218 million from around 400 million in each

    12%

  2. Credit contracts by slower rate of 2.1 pct in May
    Photo by MacroPolis

    EconomyMacroeconomy

    Greek bank credit contraction further decelerated to 2.1 percent in May from 2.4 percent in April, according to the Bank of Greece (BoG). The May headline figure is the slowest drop since August 2011... deductions to 253 million in May from 542 million in April and is entirely attributed to household

    12%

  3. Unemployment rate fell to 25 pct in May, its lowest level in the last three years
    Photo by MacroPolis

    EconomyMacroeconomy

    Greece’s seasonally adjusted (SA) unemployment rate fell for the second straight month in May, when... (ELSTAT). The May headline figure is the lowest reading since June 2012. The non-seasonally-adjusted...) from 25.5 percent in April to 24 percent in May. This is also the lowest reading in the past three

    12%

  4. Five-month budget primary surplus of 2.27 bln, revenues outperform in May

    EconomyMacroeconomy

    . On a monthly basis, the budget execution displayed a primary deficit of 448 million euros in May, from a surplus of 43 million in April, mainly reflecting a deterioration of the PIB balance in May. The state... (before tax refunds) strongly rebounded by 15.5 percent in May after dropping in the preceding two

    12%

  5. Jan-May travel balance of 1.78 bln beats same period in 2019
    Photo by MacroPolis

    EconomyMacroeconomy

    Greece’s travel balance recorded a surplus of 1.19 billion euros in May, accelerating from the 432.1 million euros in April, according to Bank of Greece (BoG) data released on Friday. May’s balance was significantly higher than the 144.7 million euros registered in May 2021. It was also higher than

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  6. General gov't primary cash surplus for Jan-May reaches 1.22 bln as arrears drop

    EconomyMacroeconomy

    euros, meaning that the gg deficit has widened by around 1 billion in May, mainly reflecting state budget and social security funds’ deficits of around 800 and 200 million respectively in May... billion euros at the end of May from 5.23 billion at the end of April, implying a modest drop of 1.8

    12%

  7. Unemployment at 27.2 pct in May, hardly changed from previous months

    EconomyMacroeconomy

    The seasonally adjusted jobless rate slightly fell to 27.2 percent in May after remaining unchanged...). The evolution of the May headline figure reflects a 0.6 percent month on month (MoM) rise... in May, decelerating from the 0.8 percent drop recorded in April. The May YoY rate is the second lowest

    12%

  8. Budget primary surplus at 1.51 bln end-May, revenues fall short by 978 mln

    EconomyMacroeconomy

    of 978 million. In particular for May, primary deficit stood at 597 million compared to a target of 246...) fell significantly by 23.6 percent in May to 2.92 billion, its lowest reading so far this year... target 1.05 billion in May. According to MoF, almost two thirds of the underperformance in May

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  9. Government gears up for third review while lenders await pending actions
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    The Greek government had a first opportunity on Monday to get a sense of where things stand regarding the upcoming third review. Alternate Finance Minister Giorgos Houliarakis took part in the Euro Working Group in Brussels, where his eurozone counterpa...

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  10. After travels, domestic issues and party scepticism await Mitsotakis
    Photo by Myrto Papadopoulos [www.myrtopapadopoulos.com]

    PoliticsGreek Politics

    Following his trip to New York last week, and to Paris this Monday, Prime Minister Kyriakos Mitsotakis is preparing to turn his focus to domestic issues this week, with the continuing rollout of pandemic relief measures and efforts to mitigate inflation...

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