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Clash over institutional interference primes political mood ahead of local elections
PoliticsGreek Politicsthe timing was suspicious. He suggested that the real aim was to cover up the involvement of the prime... Greek Solution” in order to cover up the surveillance scandal and compromise media freedom. Left... that Greek Solution’s support for the government was a quid-pro-quo so tax authorities would drop
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NBG's NII rises by 73 pct to 1.64 bln in 9M
EconomyBankingbillion, up by 59 percent annually. Operating expenses in 9M were 602 million euros, up by 3 percent... to just 1.9 billion euros, with 6.2 billion euros drop from the end of last year. Eurosystem funding
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Final budget sees 2.9 pct growth in 2024, primary surplus at 2.1 pct of GDP
EconomyMacroeconomyup next year and a sizable primary surplus in line with the country’s fiscal commitments that support... in 2024, from 11.2 pct this year. Nominal GDP in 2024 will be 233.78 billion euros, up from 222.77... intervention on the revenue front is the drop in the solidarity levy for public sector wages, costed
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Despite strains, manufacturing remains in growth as Nov PMI reaches 50.9 pts
EconomyMacroeconomymoved up in November, on the back of higher energy costs and oil prices, which was partially offset... low. Despite the challenging environment, business expectations edged up to their highest level since... export markets, which led to the fastest drop in new work from abroad since February”, they added.
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Decline in import prices accelerates to 13.4 pct in Oct
EconomyMacroeconomyGreece’s import price index continued to contract in October, picking up pace from the previous... 12-month rolling movement was negative by 9.2 percent, from a 6.6-percent drop in the previous period... percent, then durables with 2.7 percent. Non-durables were up by 0.2 percent and intermediate goods
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Growth in industrial production slows to 3.1 pct YoY in Nov, contracts MoM
EconomyMacroeconomyto a modest rise of 2 pct. Month-on-month (MoM), the seasonally adjusted index in October recorded a drop... in manufacturing, while water supply was up by 2.7 percent. Mining rose by 5.9 percent. The manufacturing index... for nearly one year, reaching 10 months. S&P notes that the rate of growth in December picked up
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Building activity slows in Nov as permits contract by 1.2 pct YoY
EconomyMacroeconomy, with the biggest rise noted in Crete with 20.3 percent, and the largest drop in Western Macedonia with 45.5... issued in Western Macedonia with 18. During the eleven months of the year, permits were up by 7.9 percent YoY to 24,429. The corresponding surface is up by 14.8 percent while volume is also higher
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Newsletter 414 - 01/03/2024
' families in the days leading up to the anniversary of the crash put pressure on the government... outlier compared to the rest of Europe. The ministry expects prices of formula milk to drop by as much... for certain products are also being introduced. The aim is to stop retailers from first bumping up prices
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Underwhelming GDP highlights investment falling short of mark
EconomyMacroeconomydrop was seen in Q3. There was a minor 0.1 pct contraction, not seen since Q2 2020 when the pandemic dealt a serious blow to the economy. The QoQ movement in Q1 was unchanged, it was up by 1.1 pct... framework that the ECB has deployed since the euro adoption. This has pushed up the interest rate
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NBG net interest income jumps 65 pct in 2023 to 2.26 bln as net profit reaches 1.2 bln
EconomyBankingimpairments in 2023 stood at 241 million, from 280 million in 2022. Core income stood at 2.61 billion, up by 54 percent annually. Operating expenses in 2023 were 835 million euros, up by 4 percent YoY. Balance... euros, with 6.2 billion euros drop from the end of last year. Eurosystem funding was 8.1 billion
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