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Record year for tourism in 2023 with 20.46 bln in receipts, 32.74 mln visitors
EconomyMacroeconomyGreece's travel balance recorded a surplus of 114.9 million euros in December, compared to 206.2 million euros in November, according to data released by the Bank of Greece (BoG) on Wednesday. December's balance was 72.1 percent higher than the 66.8 million euros recorded in December 2022
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Jan sees sharp drop of 5.24 bln in deposits, led by corporations
EconomyMacroeconomyThe net private sector deposits in the Greek banking system contracted significantly in January with a drop of 5.24 billion euros, after a 6.38 billion euros jump in December, based on the latest Bank of Greece (BoG) figures released on Tuesday. The annual growth in January was 2.7 percent year
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Credit expansion slows in Jan with 2.73 bln outflow
EconomyMacroeconomyThe credit expansion in the Greek private sector slightly slowed in January, rising by 3 percent year-on-year (YoY), up from 3.6 percent in December, Bank of Greece (BoG) figures released on Tuesday showed. At 6.3 percent, last December’s growth was the highest since the summer of 2009. However
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Despite slowdown, Q4 property price rise pushes 2023 increase to 13.4 pct
EconomyMacroeconomyThe growth in the nominal value of apartments in Greece stayed strong in the last quarter of 2023, increasing by 11.8 percent year-on-year (YoY) from an upwards revised 12.1 percent in Q3 2023, Bank of Greece (BoG) data released on Tuesday showed. This is a slight slowdown from the peak of Q1 2023
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GDP continued to slow in Q4, rise for 2023 at 2 pct
EconomyMacroeconomybefore Christmas, the Bank of Greece (BoG) had a growth outlook of 2.4 pct for 2023, with the growth
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Jan current account in surplus, trade balance worsens as exports drop again
EconomyMacroeconomyGreece’s current account recorded a surplus of 1.7 billion euros in January, from a deficit of 2.25 billion euros in December, Bank of Greece (BoG) data showed on Friday. In January 2023, the balance showed a deficit of 161.5 million euros. The Bank of Greece notes that this is mainly due
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Travel balance surplus more than doubles YoY in Jan
EconomyMacroeconomyGreece's travel balance recorded a modest surplus of 112.6 million euros in January, compared to 114.9 million euros in December, according to data released by the Bank of Greece (BoG) on Tuesday. January's balance was over 106 percent higher than the 54.6 million euros recorded in January 2023
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Lending to corporations drives credit expansion of 3.8 pct YoY in Feb
EconomyMacroeconomyThe credit expansion in the Greek private sector picked up pace slightly in February, rising by 3.8 percent year-on-year (YoY), up from 3 percent in January, Bank of Greece (BoG) figures released on Thursday showed. At 6.3 percent, December’s 2022 growth was the highest since the summer of 2009
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Deposits continue to slide in Feb as households and firms dip into savings
EconomyMacroeconomyThe net private sector deposits in the Greek banking system contracted further in February with a drop of 1.07 billion euros, after a 5.24 billion euros drop in January, based on the latest Bank of Greece (BoG) figures released on Thursday. The annual growth in February was 3 percent year on year
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Current account records sharp deficit of 3.16 bln in Feb as goods balance deteriorates
EconomyMacroeconomyGreece’s current account recorded a deficit of 3.16 billion euros in February, from a surplus of 1.7 billion euros in January, Bank of Greece (BoG) data showed on Friday. In February 2023, the balance showed a deficit of 1.34 billion euros. The Bank of Greece notes that this is mainly due
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