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Credit growth slows to 3.1 pct in May, as flow to corporations contracts
EconomyMacroeconomyThe pace of credit movement in the Greek private sector continued to slow in May, rising by 3.1 percent year-on-year (YoY), from 3.9 percent in April, Bank of Greece (BoG) figures released on Wednesday showed. Last December’s growth was the highest since the summer of 2009 with 6.3 percent, however
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Newsletter 388 - 07/07/2023
pct in 2024 and 2.7 pct in 2025. BoG notes that Greece will feel the effects of the eurozone, a major
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Current account deficit narrows further in May, down by over 3 bln in first five months
EconomyMacroeconomyGreece’s current deficit narrowed to 1.65 billion euros in May, from 1.78 billion euros in April, Bank of Greece (BoG) data showed on Friday. In May 2022, the balance showed a deficit of 2.08 billion euros, while in May 2021 the current account posted a deficit of 1.39 billion euros. The deficit
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Travel balance up to May rises by 30.7 pct as arrivals soar by a third
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 1.54 billion euros in May, from 498.2 million euros in April, according to Bank of Greece (BoG) data released on Monday. May’s balance was roughly 28 percent higher than the 1.2 billion euros registered in May 2022. The balance in May 2021 was just
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Growth in credit expansion slows further to 2.8 pct in Jun
EconomyMacroeconomyThe pace of credit movement in the Greek private sector continued to slow in June, rising by 2.8 percent year-on-year (YoY), from 3.1 percent in May, Bank of Greece (BoG) figures released on Wednesday showed. Last December’s growth was the highest since the summer of 2009 with 6.3 percent, however
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Deposits jump to highest since 2011 in Jun as corporate savings record significant rise
EconomyMacroeconomyThe net private sector deposit movement in the Greek banking system jumped by 3 billion euros in June, from a positive flow of 794 million euros in May, based on the latest Bank of Greece (BoG) figures released on Wednesday. The annual growth in June was 3.5 percent year on year (YoY), from 3.3
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Impact of energy moderates, current account deficit narrows to 7.86 bln in 6M
EconomyMacroeconomyGreece’s current deficit narrowed further to 638.2 million euros in June, from 1.65 billion euros in May, Bank of Greece (BoG) data showed on Monday. In June 2022, the balance showed a deficit of 842.2 million euros, while in June 2021 the current account posted a deficit of 1.35 billion euros
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Travel surplus rises to 5.06 bln in June as arrivals soar by 26 pct in 6M
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 2.73 billion euros in June, from 1.54 billion euros in May, according to Bank of Greece (BoG) data released on Tuesday. June’s balance was roughly 17 percent higher than the 2.23 billion euros registered in June 2022. The balance in June 2021 was just
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Credit expansion slows to 1.2 pct in July as corporate loans contract
EconomyMacroeconomyThe pace of credit movement in the Greek private sector continued to slow in July, rising by 1.2 percent year-on-year (YoY), from 2.8 percent in June, Bank of Greece (BoG) figures released on Monday showed. At 6.3 percent, last December’s growth was the highest since the summer of 2009. However
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Deposits contract by 191 mln in July as business savings decline
EconomyMacroeconomyThe net private sector deposit movement in the Greek banking system turned marginally negative in July with a 191-million-euro outflow, after jumping by 3 billion euros in June, based on the latest Bank of Greece (BoG) figures released on Monday. The annual growth in July was 3.1 percent year
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