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GDP shows strong recovery from lockdowns with 3.4 pct growth QoQ in Q2
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP rose by 3.4 percent quarter-on-quarter (QoQ) in the second (Q2) quarter of the year, from a slightly upwards revised 4.5 percent in the first quarter (Q1) of 2021, provisional data from the Hellenic Statistical Auth...
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Industrial turnover jumps 31.6 pct in Aug as strong recovery is boosted by business abroad
EconomyMacroeconomyGreece’s industrial turnover continued its impressive recovery, jumping by 31.6 percent year-on-year (YoY) in August, following an increase of 25.1 percent in July, based on data from the Hellenic Statistical Authority (ELSTAT) released on Wednesday. Th...
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EC sees strong recovery in 2021, solid growth in coming years underpinned by RRF
EconomyMacroeconomyThe European Commission continued to revise upwards its estimates for Greek growth in 2021, moving up to 7.1 pct in the autumn forecasts released on Thursday, from 4.3 pct growth seen in the summer forecasts in July. The Greek economy is seen growing by...
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Papandreou boasts strong backing as KINAL gears up to elect new leader
PoliticsGreek PoliticsThird-placed party KINAL holds the first round of its leadership contest this weekend as it seeks to turn a page following the death of former party president, Fofi Gennimata. Six candidates will compete for the two spots in the run-off vote that is due...
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Strong surplus in Nov as travel balance nears year-end with 58.6 pct of 2019 intakes, 46.7 pct of arrivals
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 173.8 million euros in November, from 1.27 billion euros in October, according to Bank of Greece (BoG) data released on Friday. The latest data on the travel front continues to be encouraging – apart from ri...
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Despite strong exports, trade deficit ends 2021 33.8 pct higher
EconomyMacroeconomyGreece’s trade deficit maintained its upward momentum in December, rising by 79 percent year-on-year, from a jump of 93.1 percent in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday. The deficit came to 2....
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Another strong rise for industrial turnover in June as petroleum products drive 43.1 pct increase
EconomyMacroeconomyGreece’s industrial turnover growth continued on a solid path in June, jumping by 43.1 percent year-on-year (YoY), from an upwards revised 53.7 percent in May, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday. After mo...
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Despite strong annual growth, flow of loans to enterprises in Aug at lowest since Jan
EconomyMacroeconomyCredit movement in the Greek private sector gathered more pace in August, rising by 5.8 percent year-on-year (YoY), from 5.5 percent year-on-year in July and 4.5 percent rise in June, Bank of Greece (BoG) figures released on Tuesday showed. The growth i...
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Unemployment stable at 12.2 pct in August despite strong tourism season
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained stable in August at 12.2 percent, after a downward revision in July, from 12.6 percent, Hellenic Statistical Authority (ELSTAT) data showed on Friday. In August last year, the unemployment rat...
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Budget primary balance continues strong performance in Oct, ahead of target by 6.4 bln
EconomyMacroeconomyThe budget primary balance up to October 2022 came to a small deficit of 349 million euros, compared to a deficit of 7.18 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on T...
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