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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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Lending to corporations drives credit expansion of 3.8 pct YoY in Feb
EconomyMacroeconomyThe credit expansion in the Greek private sector picked up pace slightly in February, rising by 3.8 percent year-on-year (YoY), up from 3 percent in January, Bank of Greece (BoG) figures released... by 924 million euros, after a drop of 2.51 billion euros in January. Within corporate lending, the flow
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Industrial Production growth slows to 1.6 pct YoY in Feb as electricity supply drops
EconomyMacroeconomymovement in the index reflects a 2.1 percent increase in manufacturing, while water supply was up by 3.3 percent. Mining had growth of 10.2 percent. Electricity supply recorded a drop of 1.4 percent..., industry confidence is now up by 2.2 points. In addition, Greece’s Manufacturing PMI continued its
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Newsletter 427 - 14/06/2024
and experienced a sharp drop in support compared to the 41 pct it got just one year ago in the national... polls by opposition parties. The French spread over bunds shot up to 74 basis points mid-week... by 4.4 pct, while water supply was up by 8.8 pct. Electricity supply recorded a strong rise of 14 pct
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Travel balance drops to 3.76 bln in July as expenditure per trip eases by 9.1 pct YoY
EconomyMacroeconomywas 3.41 billion euros. This is the first drop in the travel balance since the pandemic affected 2020... in July reached 6.36 million, up 4.1 percent. Arrivals from the EU totalled 3.96 million, of which... to 10.95 billion euros. Payments also increased to 1.64 billion, up 20 percent, bringing the travel
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Growth of industrial production moderates to 3.1 pct YoY in Aug
EconomyMacroeconomyAugust 2023. Month-on-month (MoM), the seasonally adjusted index in August recorded a drop of 4 percent... percent increase in manufacturing, while water supply was up by 3.9 percent. Electricity supply... points in the previous month. Since October last year, industry confidence is now up by circa 13
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SYRIZA's ongoing drama creates space for winner of PASOK leadership vote
PoliticsGreek Politicsis gearing up for its own leadership election in a few weeks. But he also, compared it to the apparent... offering to PASOK voters is the promise of opening up the party to the left and bringing in more.... The Cretan MP was seemingly unable to convince Kasselakis to drop the writ, allowing the party
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Draft budget maps out narrow fiscal path for coming years
EconomyMacroeconomy, it is expected to stay in that range up to 2028, noting that the DSA for Greece assumes primary... was in full swing, the Greek government initially expected 22.2 billion euros in 2023, but ended up... of lower state income from the drop of the trade tax. With Greeks severely challenged by weak disposable
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