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  1. Turnover in tourism rises by 4.8 pct in Q4
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    The turnover index in accommodation and food services rose by 4.8 percent year-on-year (YoY... increase for the year came to 1.3 percent. Split by activity, the accommodation index rose by 1.2... percent compared to the same time last year. Receipts came to 288.9 million euros, increasing by 6.1

    1%

  2. Turnover in services remains broadly positive in Q4 2019
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    ) of 2019, Hellenic Statistical Authority (ELSTAT) figures showed on Friday. Specifically, year-on-year... of 15 services seen in Q3. The three largest year-on-year rises were noted in management consultancy... the services index increased by 8.4 points month-on-month to 33.6 points. Year-on-year, the service

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  3. Greek hotel industry reports COVID-19 related losses of half a billion to date
    Photo by MacroPolis

    EconomyFeatures

    the same periods last year. The rate fell by 72 percent in 92 percent of hotels that operate all year... also fell by 85 percent in 83.3 percent of hotels which operate year round, and fell by 67 percent... of rooms on offer by around 41.5 percent. Based on the current trend, 91 percent of year-round

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  4. Covid-19 presents new, significant challenge in banks' effort to reduce NPLs
    Photo via Flickr https://flic.kr/p/4hVnhM

    EconomyBanking

    The Greek banking system entered the new year with positive momentum for tackling the stock of non... of the year will exceed 1 billion euros. The BoG notes that despite the record tourism seasons... of 10 have not been serviced for more than one year. The percentage of the mortgages that have not been

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  5. Newsletter 245 -27/03/2020

    Newsletters

    Staikouras, admitted that Greece is on course for an economic contraction of 1 to 3 pct this year due... Ministry currently has two scenarios for the fate of the industry this year, according to reports. Under... for the Greek tourism and generates the highest tourism revenues out of the year. In the adverse scenario

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  6. Piraeus Bank posts net profit of 49 mln in Q4 and 270 mln in 2019
    Photo by MacroPolis

    EconomyBanking

    to 210 million euros in Q3. For the year, PPI came to 1.16 billion euros, a rise of 61 percent year-on-year (YoY). Net interest income (NII) came to 363 million euros versus 353 million euros in Q3, a rise of 2.8 percent quarter-on-quarter (QoQ). For the full year, NII reached 1.44 billion, a rise

    1%

  7. Trade deficit up by 7.8 pct in February
    Photo by MacroPolis

    EconomyMacroeconomy

    Greece’s trade deficit increased by 7.8 percent year-on-year (YoY) in February compared to a drop..., recording a drop of 2.1 percent compared to the same month last year. A breakdown of the figures... for the first two months of the year showed that the trade deficit fell by 2.3 percent, bringing

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  8. Building permits increase by 55.7 pct in January
    Photo by MacroPolis

    EconomyMacroeconomy

    Building permits rose by 55.7 percent year-on-year (YoY) in January compared to a rise of 50.3.... The total number of permits came to 1,339, staying above the 1,000-permit mark for close to a year... the fourth quarter (Q4) of the year from a revised increase of 8.3 percent in Q3 According to the revised

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  9. Coronavirus to delay much of privatisation plan
    Photo by MacroPolis

    EconomyFeatures

    pushed to 2021. The government’s 2020 budget had forecast that privatisation revenues during the year... that nine consortiums had qualified for the next phase of the 30 year tender for AIA, which involves... by 61.3 percent in March of this year compared to March of last year. In March, the government

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  10. EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021
    Photo by MacroPolis

    Economy

    of historic proportions this year.” Euro area GDP is seen falling by 7.75 pct in 2020 and grow by 6.25 pct next year. The EU economy is expected contract by 7.5 pct and grow by 6 pct in 2021. For Greece... in the second quarter of the year, Greece receives 70 pct of its travel revenues during the summer

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