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Covid-19 presents new, significant challenge in banks' effort to reduce NPLs
EconomyBankingtargets submitted to the ECB’s supervisory authorities, the ratio is due to drop to 20 percent... that as revenue collapses for companies and incomes drop for workers, up to 1/10 of the existing stock
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Tourism industry braces for outcome of gloomy Covid-19 scenarios
EconomyFeaturesrescue the tourism season, Greeks are very likely to see a drop in their disposable income due... under pressure to drop their prices. In addition to this, as of Sunday night, all hotels whether
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Newsletter 246 -03/04/2020
conditions could be restored. 2 March PMI drops to 42.5 pts Sharp drop driven by Covid-19 uncertainty... July 2015, a period marked by high political and economic unrest. The drop was fueled by factory
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Trade deficit up by 7.8 pct in February
EconomyMacroeconomyGreece’s trade deficit increased by 7.8 percent year-on-year (YoY) in February compared to a drop of 9.8 percent in January, data from the Hellenic Statistical Authority (ELSTAT) released on Tuesday..., recording a drop of 2.1 percent compared to the same month last year. A breakdown of the figures
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Fitch keeps Greece at 'BB' but revises outlook to stable with eye on Covid-19 impact
Economythe pandemic, the global recession and the drop in tourism. Fitch expects a gradual recovery in the second half.... Impacted by the drop in services revenues, notably tourism which corresponds to 22 pct of current account
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Trade deficit declines by 7.9 pct in March
EconomyMacroeconomy. The deficit came to 1.79 billion euros for the month. Imports totalled 4.28 billion euros, showing a drop of 9.8 percent YoY. At the same time, exports totalled 2.49 billion euros, recording a drop of 11.2
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Greece gears up to secure slice of smaller tourism pie this summer
PoliticsGreek Politicstourism season in Q3. Not only would it mean suffering a lower drop in tax revenues than many experts... earning minimal revenues, the newspaper reported. VAT on hotel stays is expected to drop to 6 pct
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Retail sales down by 1.5 pct in March for first fall in seven months
EconomyMacroeconomydrop of 16.1 points month-on-month in April. Consumer confidence is the lowest it’s been since... months, dropping by 22.4 points month-on-month, after a drop of 18.1 points in April, which took
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Apartment prices rise by 6.9 pct in Q1
EconomyMacroeconomypercent), followed by another double-digit drop of -10.9 percent in 2013. The sharpest quarterly rate of decline was seen in Q4 2012, when apartment prices showed a YoY drop of 12.8 percent. Since Q1 2018
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Newsletter 253 -05/06/2020
growth and is the sharpest QoQ contraction since Q3 2015, when there was a drop of 2 percent. Compared... the strongest since the depths of the credit crisis in 2015. Difficulties in resuming operations and a drop
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