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Building permits fall by 2.3 pct in March, absolute permits rise above 1,000
EconomyMacroeconomycovered. The three largest falls came from the Crete (-20.2 percent), Epirus (-20 percent) and central...), falling by 7 percent compared to the same time last year. The smallest number of absolute permits... as a whole, the decline in property prices came to an average drop of 1 percent, improving against
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Piraeus enters agreement for sale of 2.2 bln loan portfolio
EconomyBanking. The consideration of the transaction equals 5 percent of the 1 billion outstanding principal amount... billion on-balance sheet gross book value. Around 20 basis points of CET-1 capital were expected..., liquidations and collections (-7 billion euros) and NPE sales (-3.5 billion euros). Piraeus Bank expects
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Current account deficit widens in March due to deteriorating goods trade balance
EconomyMacroeconomyago. The secondary income balance showed a deficit of 62 million compared to 20 million deficit... in last year’s first quarter. Exports in the aggregate period rose by 1 percent and came to 7.7... by an increase in foreign arrivals, which went up by 7 percent in the aggregate period. Travel payments
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New Democracy starts rolling out its first three bills
PoliticsGreek Politicsthat it should become law by July 31 or August 1. The other draft laws are due to be passed by August 8. Parliament will then close until August 20. The bill submitted on Thursday aims to restructure part... Democracy fulfilling the pledges it made in the run-up to the July 7 national elections. Friday’s
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NBG results show net profits of 18 mln in Q4 and 484 mln in 2019
EconomyBankingpercent QoQ to 288 million. In 2019, NII rose by 7 percent, to 1.19 billion euros. The full-year figure... lending fees, as disbursements towards Greek corporates accelerated to 1 billion in the quarter...), bancassurance, digital channels and lending fees up by nearly 20 percent YoY. Operating expenses in Q4 came
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Waiting for Eurogroup outcome, ND and SYRIZA focus on economic interventions
PoliticsGreek Politicsedging up to around 20 pct, bringing back bad memories from the recent economic crisis in Greece... or refugees who have arrived in Greece since March 1 will be housed in different facilities... the number of deaths reached 73, which translates into 7 per million. The death rate is higher than some
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Updated IMF DSA sees Greek debt as sustainable in medium-term, risks over long-term
EconomyMacroeconomypct in 2022. After that, they return to the IMF’s long-term real GDP growth estimate of 1 pct... between 2021 and 2029 would raise debt-to-GDP by 7 percentage points. A more severe scenario... threshold in the near-term and approach 20 pct of GDP by 2029. A more pronounced fiscal shock
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Athens poised for new round of talks with Turkey
PoliticsForeign Policyuntil March 7. It was a Turkish initiative to propose the date of March 16 just 10 days before... called his Turkish counterpart, Erdogan, since taking office on Jan 20. Egypt Against this complex... for exploration and exploitation of oil and natural gas in 24 blocks. The round, which concludes on August 1
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Newsletter 354 - 07/10/2022
-right parties are polling between 7 and 10 pct of the total vote and if more than one... the government build a buffer of around 1 billion euros that could be spent on energy subsidies should... tourism, or even exceed it. This additional 20 pct from tourism only partly covers the VAT
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PDMA sets out modest debt strategy for 2023
EconomyMacroeconomyjust a fraction of the funding requirements. The sources of financing next year come from 7 billion... by less than 1 billion euros, in line with the objective of keeping the nominal stock of debt mostly..., with 100 pct of the debt at fixed rates, average maturity at 20 years, a favourable maturity schedule
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