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EC sees strong recovery in 2021, solid growth in coming years underpinned by RRF
EconomyMacroeconomyThe European Commission continued to revise upwards its estimates for Greek growth in 2021, moving up to 7.1 pct in the autumn forecasts released on Thursday, from 4.3 pct growth seen in the summer forecasts in July. The Greek economy is seen growing by...
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Strong surplus in Nov as travel balance nears year-end with 58.6 pct of 2019 intakes, 46.7 pct of arrivals
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 173.8 million euros in November, from 1.27 billion euros in October, according to Bank of Greece (BoG) data released on Friday. The latest data on the travel front continues to be encouraging – apart from ri...
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Despite strong exports, trade deficit ends 2021 33.8 pct higher
EconomyMacroeconomyGreece’s trade deficit maintained its upward momentum in December, rising by 79 percent year-on-year, from a jump of 93.1 percent in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday. The deficit came to 2....
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Another strong rise for industrial turnover in June as petroleum products drive 43.1 pct increase
EconomyMacroeconomyGreece’s industrial turnover growth continued on a solid path in June, jumping by 43.1 percent year-on-year (YoY), from an upwards revised 53.7 percent in May, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday. After mo...
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Despite strong annual growth, flow of loans to enterprises in Aug at lowest since Jan
EconomyMacroeconomyCredit movement in the Greek private sector gathered more pace in August, rising by 5.8 percent year-on-year (YoY), from 5.5 percent year-on-year in July and 4.5 percent rise in June, Bank of Greece (BoG) figures released on Tuesday showed. The growth i...
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Unemployment stable at 12.2 pct in August despite strong tourism season
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained stable in August at 12.2 percent, after a downward revision in July, from 12.6 percent, Hellenic Statistical Authority (ELSTAT) data showed on Friday. In August last year, the unemployment rat...
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Budget primary balance continues strong performance in Oct, ahead of target by 6.4 bln
EconomyMacroeconomyThe budget primary balance up to October 2022 came to a small deficit of 349 million euros, compared to a deficit of 7.18 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on T...
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Inaugural 2023 bond attracts strong demand and steep interest
EconomyMacroeconomyGreece had its inaugural bond issue for 2023 on Tuesday with a 10-year benchmark that covered half of the country’s debt strategy for the year thanks to the high demand. The Public Debt Management Agency (PDMA) drew 3.5 billion euros for a June 2023 mat...
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Strong start for travel receipts in Jan, rising by 72 pct YoY to 224.2 mln
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 26.3 million euros in January, from 71 million euros in December, according to Bank of Greece (BoG) data released on Tuesday. January’s balance was 40.2 percent lower from the 44 million euros registered in ...
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Strong tourism season has little impact on unemployment, hovering at 10.8 pct in July
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate was essentially unchanged in July, landing at 10.8 percent, from a slightly downward revised 11 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. In July last year, the ...
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