Search
-
ND braces for deeper economic impact from Covid-19, mulls more assistance
PoliticsGreek Politicsin a radio interview that he expects GDP to contract by 16 pct in the second quarter of the year. Although this does not change the minister’s expectation for the full-year shrinkage, which he still... difficult quarters, Q2 and Q3, after economic activity in the first quarter of the year fell by 1.6
1% -
PM sees 'new Greece' rising from Hellinikon rubble, pledges more aid for struggling firms
PoliticsGreek Politicsconsortium behind the development aims to start building next year. The regeneration of Hellinikon had been one of the flagship investment projects identified by Mitsotakis during last year’s... days in office. Instead, it has taken a year before he could pay a visit to the site in southern
1% -
Rise in "imported" Covid-19 cases a source of jitters for tourism industry
PoliticsGreek Politics. Industry participants in the region now expect tourism this year to be down to just 20 percent of last year’s business, leading to up to 30 percent unemployment by winter. On a national level, the consensus has now settled on expectations of 4.5-5 billion euros in revenues from this year’s tourist
1% -
Industrial production drops by 7.5 percent in May
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) decreased by 7.5 percent year-on-year (YoY) in May... to stand at -18.1 points. Year-on-year, industry confidence has fallen by 17.5 points. It is currently... those seen at the start of the year. New export orders also fell marginally in June, with the rate
1% -
Survey shows investor interest remains solid
EconomyFeaturesyear, although lower than the previous survey (47 percent). A notable number, 62 percent, believe... investment. This is up from last year’s answer of 50 percent. Furthermore, 69 percent think... next year. This represented the highest expression of intent for any country in EY’s survey. Regarding
1% -
Hoteliers staring at big drop in turnover as liquidity calls grow
EconomyFeaturespercent will not to open at all this year. The main reasons cited for not opening was a lack... to last year. Broken down, 96.9 percent of hotels that operate year-round expect turnover to fall... survey in which year-round hotels expected a turnover decline of 56.3 percent and seasonal hotels
1% -
Newsletter 260 -31/07/2020
provocation at the northeastern border between the two countries earlier this year, when Ankara waved... at 5.1 pct growth next year, subject to potential new virus outbreaks. The total deficit is seen at 7.8... the growth trajectory over the coming years. Debt is seen rising to 197 pct of GDP this year
1% -
Construction slides again in May with fall of 8.7 pct YoY in building permits
EconomyMacroeconomydrop of 22.4 percent year-on-year (YoY) in April amidst the lockdown, according to Hellenic... from 111 last year, and the increase in Eastern Macedonia was to 76 permits, from 67 in the same... five months of the year, building permits are up by 16.1 percent. Total permits in the aggregate period
1% -
Budget deficit balloons to 8.2 bln euros in July amid measures linked to pandemic
EconomyMacroeconomy. Equally, comparisons to last year’s performance have limited value as the budget is now operating... in the first seven months of the year recorded a deepening deficit of 11.65 billion euros, from 9.23... seven months of the year included in the Stability Program submitted to the EC on April 30, 2020
1% -
Grim picture in labour market obliges govt to provide more job support schemes
EconomyFeaturesclose to 13 percent additional unemployment registrations this year compared to July last year equalling... seven months of the year, some 170,000 jobs were lost in the Greek labour market. Seasonal workers, many of whom rely on the summer months for the income they live off for the rest of the year
1%