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Trade deficit widens in May as exports contract by 15.4 pct
EconomyMacroeconomyGreece’s trade deficit recorded a drop of 11 percent year-on-year (YoY) in May, after a solid drop... billion euros for May. Imports totalled 7 billion euros, dropping by 13.6 percent YoY. Exports totalled 4.06 billion euros. This is a decrease of 15.4 percent compared with May 2022. In May 2022
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Industrial production growth slows to 1.4 pct annually in May, only manufacturing expands
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) slowed in May, rising by 1.4 percent year-on-year (YoY... (ELSTAT) data released on Monday. The index has been growing in all five months of 2023. Up to May... in May recorded a drop of 0.6 percent, from a decrease of 1.9 percent in the previous month
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Reflecting base effects, foreign market and manufacturing drive industrial turnover down sharply in May
EconomyMacroeconomyGreece’s industrial turnover went deeper into negative territory in May, contracting by 13.6... also been recording much more modest growth rates in recent months. In May last year, with growth... percent, while the non-domestic market was down by 23.6 percent. In the domestic market, the rise in May
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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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Strong tax performance and underspend push primary surplus up to 3.15 bln in May
EconomyMacroeconomyThe budget primary balance recorded a surplus of 3.15 billion euros in May, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Monday. Up to May, the primary... euros. The budget balance up to May showed a deficit of 580 million euros, from a 1.12-billion-euro
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VAT and income tax takings plus 721 mln underspend lead to 3.2 bln primary surplus in May
EconomyMacroeconomyThe budget primary balance was confirmed at a surplus of 3.2 billion euros in May, compared... (MoF) budget execution data released on Tuesday. In May, the budget primary balance outperformed... to 19.88 billion euros. Net revenues came to 26.88 billion euros. The total budget balance for May
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Unemployment at 7.9 pct in May, lowest since Nov 2008
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate edged down to 7.9 percent in May, from 8.3 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday. In May... percent unemployment rate in May 2008. Year-on-year, the number of employed people increased
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Unemployment slides to 8.1% in May as male and youth rates improve
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate edged down to 8.1 percent in May, from... on Wednesday. In May last year, the unemployment rate was 8.7 percent. The current levels are Greece’s... in July 2013. The series low is a 7.1 percent unemployment rate in May 2008. Year-on-year, the number
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Common ground absent after latest round of Cyprus discussions
PoliticsForeign Policyconcluding remarks he said that “to square the circle is an impossibility in geometry, but it is very... the end of the summer. The Republic of Cyprus is holding parliamentary elections on May 30... issue does not seem to be a priority. Realistically, the UN may have to wait until the end
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The case for a general government balance sheet
Agorathe following remarks: Net worth is negative in Greece and the Euro Area; a private entity (company... (according to the Maastricht criterion). The reader may verify that financial liabilities are larger than..., then the policies may be sustainable. A key benefit of such disclosures would lie in the transparency toward
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