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Tourism jobs deliver highest April hiring balance on record at 124,365
EconomyMacroeconomyMinistry’s Ergani information system. The balance was also positive in March this year with 34,373 more hirings. The balance in April last year was positive by 33,210, meaning there was a rise of 91,155 job openings year-on-year (YoY). At the start of last year, pandemic-related measures that protected
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Hiring balance slows in June as job market returns to normal levels
EconomyMacroeconomythen departures, while there was a significant slowdown from the figure of 73,502 of June last year, suggesting a drop of 54,389 jobs, partly attributed to the delay in hires last year as the pandemic restrictions had delayed the start of the tourism season. Layoffs were also restricted last year due
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Where is Odysseus? Part 5 - Productivity
Agoraof productivity, as envisaged in the 2018 path for the period 2001-2023 was 0.47 percent a year. The current... percent a year. The actual realized productivity growth rate in recent years has been slightly... for Greece’s long-run productivity growth, from 1.5 percent a year on average to 1 percent on average
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Despite seasonal recruitment in accommodation and catering, hiring balance slows to 2,999 in July
EconomyMacroeconomythan departures, while there was a significant slowdown from the figure of 24,395 of July last year, suggesting a drop of 21,396 jobs. This is partly attributed to the delay in hires last year... year due to relief measures linked to Covid-19. July is also the sixth straight month this year
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Unveiling of relief package imminent as electoral law speculation is revived
PoliticsGreek Politicsbudget deficit to 2 pct of GDP this year and turn that into a 1 pct of GDP primary surplus next year. This will require a fiscal adjustment of 6 billion euros, a significant amount, in 2023. So... to the relief package will be the electricity subsidy, which is due to run until the end of the year
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Current account surplus drops in Aug, as 8M deficit jumps by 73 pct to over 10 bln
EconomyMacroeconomyin the same month last year. Total imports came to 7.72 billion euros, from 5.19 billion last year... million euros last year. The balance of goods excluding oil and ships was 1.97 billion euros in deficit, from 1.8 billion euros in August last year. The travel balance started returning to normal levels
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GDP records first quarterly drop in Q3 since pandemic, 9M GDP up by 5.9 pct YoY
EconomyMacroeconomy, from 7.1 percent year-on-year (YoY) growth in Q2. The quarterly movements in Q3 were led... of Greece sees the economy growing by 6.2 pct this year and a much more modest 1.5 pct in 2023. The latest European Commission forecasts, published in mid-November, see GDP growing by 6 pct this year
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PBO sees economy making soft landing, but facing challenges ahead
EconomyMacroeconomyhighlights some of the concerns for the coming year despite notable progress on the fiscal and economic front this year. Fiscally, Greece had a sounds year, thanks to the growing economy and the effects of inflation, with the fiscal picture improving by more than 12 billion euros year-on-year
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Does the EU Commission suffer from optimism bias? (Part 1)
Agorainput between 2022-2100 in the EC scenario and in the Book are the same: -0.2 percent a year through... in the Book is 0.9 percent a year (solid line), an improvement from 0.7 percent a year over the past two... is 1.2 percent a year; an improvement from past performance by over 50 percent. We now also see
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Growth of industrial turnover slows in Nov, drops by 1.4 pct MoM
EconomyMacroeconomyGreece’s industrial turnover stayed strong in November, rising by 18.2 percent year-on-year (YoY... growth rates since December last year when it grew by 22.8 percent. After more than one year.... In May this year, with growth of 54 percent annually, the index posted the highest growth on record
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