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Economic sentiment recovers 3.4 pts in Sept, buoyed by rise in services
EconomyMacroeconomythis year were the highest of the series, but sentiment had been sliding since, having lost 9 points up to September. Over the rolling 12-month period, the ESI is now lower than October last year, when... points, up 3 points from August, is one more attempt this year to reverse this trend, after the May
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PM heads north to rally voters ahead of tough winter
PoliticsGreek Politicscampaign to win re-election next year. Mitsotakis visited the ancient site of Pella as well as a local... as potentially tipping the balance in New Democracy’s favour, or against the ruling party, in next year’s... last year to absorb as much as possible the impact of high energy costs, in terms of electricity
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IMF sees solid primary surplus from 2023, debt falling to below 150 pct of GDP by 2027
EconomyMacroeconomyheld in Washington. The Fund sees Greece turning this year’s primary deficit of 1.8 pct into a surplus of 0.9 pct next year and maintain it on a growing scale up to 2027 when it reaches 2 pct of GDP... are broadly in line with those published earlier this year, in April. The general deficit will drop to 1.9
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Industrial turnover up 42 pct YoY in Aug, but drops 15 pct MoM
EconomyMacroeconomyyear-on-year (YoY) growth, after jumping by 38.8 percent in July, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday. After more than one year of contraction, the index posted growth of 18.2 percent in March 2021 and has been growing ever since. In May this year
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Industrial production back in negative territory for Sep as electricity supply drops sharply
EconomyMacroeconomyby 1.1 percent year-on-year (YoY), after growing by 4.4 percent in the previous month, according... far in 2022, after drops in January and April this year. Month-on-month (MoM), the seasonally..., from -5.3 points in September. Since November last year, industry confidence is down by 16 points
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Business transformation paying off as Eurobank records 932.3 mln profit in 9M
EconomyBanking), compared to a profit of 297.5 million euros last year. Core pre-provision income (PPI) rose by 17.7 percent year-on-year (YoY) in 9M to 794.6 million euros, with 202.9 million euros of loan loss provisions booked in 9M, compared with 318.4 million last year. Asset quality The stock of non-performing
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Inflation drives up retail sales by 10.5 pct in Sep, but MoM sees 0.6 pct drop
EconomyMacroeconomyThe growth in Greece’s retail sales dropped pace in September, rising by 10.5 percent year-on-year... since April last year when they jumped by 39.4 percent annually. This came after sales fell continuously for nearly a year. On a monthly basis, the seasonally adjusted index decreased by 0.6 percent
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PDMA sets out modest debt strategy for 2023
EconomyMacroeconomyto follow the same cautious approach as this year. The Public Debt Management Agency (PDMA) outlines its major objectives for the next year, summarised in enhancing market access, containing funding costs... and refinancing needs. Greece’s total funding needs for next year stand at 15.4 billion euros, according
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Election speculation gathers steam while surveillance claims mount
PoliticsGreek PoliticsWith political activities nominally on hold over the Christmas and New Year holidays, speculation... in the new year, however fresh statements by government officials appear to confirm that April 9 is the date... districts and stated that according to the Constitution it would only be able to do so a year after
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Nov job data delivers worst employment figures on record, as 2022 produces 71,700 fewer places
EconomyMacroeconomythe worst number on record, after the 79,129 previous negative record of November last year. October... and termination of contracts. Layoffs are up by 13,956 year-on-year, while voluntary exits are down by 10,233. Hires were up by 775 jobs compared to November last year, while departures are up by 3,723
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