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Travel balance increases more than eightfold in May from last year’s lockdown
EconomyMacroeconomyGreece’s travel balance came to a surplus of 112.1 million euros in May from 12 million a year ago, when Greece was in its first lockdown, Bank of Greece (BoG) data has shown. This is equal to an increase of 836.3 percent year-on-year (YoY). The balance...
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Industrial turnover soars by 39.4 pct in Nov, index up by more than 42 pct since Feb 2021
EconomyMacroeconomyGreece’s industrial turnover remains on a solid recovery path, jumping by 39.4 percent year-on-year (YoY) in November, from 40.6 percent in October, according to data from the Hellenic Statistical Authority (ELSTAT) released on Thursday. The index went ...
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BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
EconomyIn the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher. BoG pres...
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Current account deficit for Jan-Feb at 4.12 bln, significantly higher than 2021
EconomyMacroeconomyGreece posted a current account (C/A) deficit of 2.12 billion euros in February, from 1.99 billion euros in January, Bank of Greece (BoG) data showed on Wednesday. In February 2021, the balance showed a deficit of 761.7 million euros, while in February ...
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Building permits turn negative for first time in more than a year, falling by 10 pct in April
EconomyMacroeconomyThe growth in building permits stopped in April, dropping by 10 percent year-on-year (YoY), after it had slowed down in March, rising by 2.8 percent, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Thursday. This is t...
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EC cuts 2023 growth forecast by more than half to 1 pct
EconomyMacroeconomyIn the European Commission’s autumn economic forecasts just released, Brussels confirmed a solid year of growth for Greece in 2022 and a significant downward revision of next year’s estimate. Greece is expected to grow by 6 pct in 2022 in real terms, up...
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Current account deficit widens to 2.4 bln in Mar, oil deficit more than doubles
EconomyMacroeconomyGreece’s current deficit in March widened to 2.4 billion euros, from a deficit of 1.32 billion euros in February, Bank of Greece (BoG) data showed on Monday. In March 2022, the balance showed a deficit of 2.53 billion euros, while in March 2021 the curr...
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Eurobank's NII jumps by 56.2 pct in H1 to more than 1 bln
EconomyBankingEurobank posted an adjusted net profit of 598.5 million euros in H1 2023, compared to a profit of 755 million euros last year, a drop of 20.7 percent. The profit was adjusted by normalising other income, after deducting significant trading income items ...
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Athens looks for improving mood rather than tangible outcome from Erdogan visit
PoliticsForeign PolicyAthens sees the High-Level Cooperation Council between Greece and Turkey, due to take place this Thursday, as yet another opportunity for both sides to retain the positive mood in bilateral relations, which has existed for roughly the last 10 months. Ho...
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Wages index rises by 8 pct YoY in Q2, taking growth to more than 2 years
EconomyMacroeconomyGreece’s seasonally adjusted (SA) Wages Index maintained a solid growth trend in Q2, rising by 8 percent year-on-year (YoY), from 7.4 percent growth in the first quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday. The wa...
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