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  1. S&P affirms Greece’s rating with stable outlook

    Economy

    notches above that of Moody’s (‘Caa3’ set on July 1, 2015) and two notches higher than Fitch (‘CCC... at the high-end of the eurozone, S&P notes. For 2016, S&P forecasts GDP to contract 1 percent, versus

    2%
  2. Budget primary surplus confirmed at 2.5 bln in H1 2016, tax revenues soar in June

    EconomyMacroeconomy

    billion coupled with a revenue outperformance of more than 1 billion. The monthly figure displayed... Investment Budget (PIB) revenues. The state budget deficit narrowed by 28.7 percent to 1 billion

    2%
  3. Central government debt climbs to 328.3 bln in Q2 on bailout tranche of 7.5 bln

    EconomyMacroeconomy

    is equally split between short-term (up to 1 year) and medium-term (1 to 5 years) debt. Meanwhile, Greece’s

    2%
  4. Budget primary surplus reaches 3.6 bln in 7-month, monthly revenues miss target in July

    EconomyMacroeconomy

    period, slightly down by 1 percent from last year, yet beating target by 2.65 billion. Revenues Revenues.... Overall, net revenues edged down by 1 percent in July, while increased by 4.5 percent to 25.95

    2%
  5. Stable rate in time deposits, corporate loan rates pick up in July

    EconomyMacroeconomy

    to 6.18 percent. Lower rises were recorded for amounts over 1 million euros (+16 bps) and for amounts between 250,000 and 1 million euros (+6 bps). As a result, corporate loan rates in Greece remain 250-350

    2%
  6. Alpha Bank reports net losses of 16.8 mln in Q2
    Photo by MacroPolis

    EconomyBanking

    million in Q1, while stood close to 1 billion a year ago. Last quarter’s NPL formation mostly stems from..., this figure could be impeded by taxpayers’ obligations in H2. The bank’s Common Equity Tier 1 (CET1

    2%
  7. One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
    Photo by MacroPolis

    EconomyBanking

    million, mainly reflecting lower costs related to pillar II bonds. Net interest income (NII) edged up 1... from 92 percent in the previous quarter remaining the lowest among core banks. The Common Equity Tier 1

    2%
  8. Greece’s embattled commercial steel market industry braced for more challenges
    Photo via Flickr https://flic.kr/p/3pyqsB

    EconomyFeatures

    and Chinese steel imports to curb the effect of cheap steel on European prices.[1] The fallout from... blamed on price volatility of raw commodities. [1] https://www.ft.com

    2%
  9. IMF sees primary surplus of 0.7 pct of GDP in 2017, debt ratio peaking at 184.7 pct

    Economy

    of 0.7 percent of GDP, still remaining more than 1 percentage point lower than the programme target... revenues (as a percent of GDP) are expected to drop by around 1 percentage point per annum

    2%
  10. Average loan rate falls by 26 bps, time deposit rate down by 8 bps to new record low in September

    EconomyMacroeconomy

    in the corporate sector in September was recorded in loans for amounts over 1 million euros, where... 250,000 and 1 million euros increased by 23 bps to 5.32 percent. Despite the drop in September

    2%