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Latest air traffic data emphasises tourism's difficulties as 2019 data reveals bumper year
EconomyFeaturesThat latest air traffic data has highlighted what a terrible year the Greek tourism sector is going... year. Research by the institute of the Association of Greek Tourism Enterprises (INSETE) has... stays amounted to 232.5 million, a rise of 2.4 percent year-on-year (YoY) while travel receipts
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October C/A deficit drops to 351 mln, down 39.1 pct over year
EconomyMacroeconomyfrom 577 million last year, according to the Bank of Greece (BoG). The 39.1 percent year on year (yoy..., the year-to-date C/A balance remains positive with a surplus of 2.20 billion from deficit of 3.38 billion in the corresponding period last year. The 5.59-billion-euro improvement yoy partially reflects
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Tax arrears jump to 1.47 bln in Sept as total for year reaches 8.39 bln
Economy. Following the marked deterioration in September, new tax arrears reached 8.39 billion in the year-to-date. Note though that this year’s 9-month figure stands 13.3 percent below the respective item... figure of 445 million. The September figure indicates the highest reading since the beginning of the year
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BoG highlights strong year for property in 2019 but warns of Covid-19 impact in 2020
EconomyFeatureson the property market in Greece while outlining the positive year enjoyed by the sector in 2019. In the 2019 governor's annual report, BoG analysts said that 2019 was a strong year for the Greek real estate... that the nominal value of apartments in Greece came to 7.5 percent year-on-year (YoY) from a revised
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EC doubles 2023 growth forecast to 2.4 pct, affirms 2.5 pct of GDP primary surplus next year
EconomyMacroeconomyThe European Commission upped its outlook on Greece for this year in its latest forecast published... year, this year’s performance will be supported by both domestic and external demand. Private consumption is expected to cool down this year due to lower real disposable income and negative saving
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Central gov't primary cash surplus reaches 1.37 billion in first half of year
EconomyMacroeconomypercent, or 6.8 billion euros, to 1.82 billion from 8.72 billion last year, according to the Bank... a surplus of 1.37 billion from deficit of 4.77 billion last year. The BoG calculates the central... of the year increased by 8.1 percent to 21.91 billion euros. Excluding the revenues related
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IOBE think-tank sees recession of up to 2.5 pct this year, milder in 2016
EconomyGreece is expected to experience a significant recession this year and a milder one next year, while unemployment may edge up this year, according to the latest report on the Greek economy published... of confidence and bank stability. IOBE projects a recession of 2 – 2.5 percent this year. A milder GDP
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Credit contraction stays stable at 2 pct in June, net additions for first time this year
EconomyMacroeconomyfrom the previous months, still continue in the household sector. Since the beginning of the year, net... to 95.71 billion in June. Following the notable additions in June, the year to date lending flow turned positive with cumulative net additions of 554 million in the first half of the year. Loans to sole
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Fiscal Council optimistic on 2016 target, sees next year’s goals as feasible
EconomyMacroeconomythis year and next. A more detailed macro and fiscal outlook will be available after the completion... notes. The Fiscal Council concludes that this year’s fiscal target will be met, while achieving next year’s target is feasible under conditions. The panel of experts highlights that this year’s revenue
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Retail sales drop by 0.3 pct in August, first negative reading for the year
EconomyMacroeconomyGreece’s retail sales fell by 0.3 percent year-on-year in August after revised growth of 1.8... for the month is the first negative reading this year. The corresponding volume grew slightly by 0.1 percent... May. The largest year-on-year retail-sales rises were in the automotive fuel sector, which grew
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