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Wages index rises by 8 pct YoY in Q2, taking growth to more than 2 years
EconomyMacroeconomyGreece’s seasonally adjusted (SA) Wages Index maintained a solid growth trend in Q2, rising by 8 percent year-on-year (YoY), from 7.4 percent growth in the first quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday. The wa...
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Budget comfortably beats target up to Aug thanks to 2 bln excess taxes, 3.6 bln underspend
EconomyMacroeconomyThe budget primary balance was confirmed at a surplus of 7.57 billion euros in August, compared to a surplus of 5.6 billion euros in the same period a year earlier, according to the final Finance Ministry (MoF) budget execution data released on Wednesda...
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Deposits rise by 2 bln in Aug, reaching new recent high of 205.4 bln
EconomyMacroeconomyThe Greek banking system’s private sector deposits rose in August, with a net increase of 2.05 billion euros, after a drop of 1.15 billion euros in July, according to the latest Bank of Greece (BoG) figures released on Thursday. The annual growth in Jul...
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Greece and the euro: The flight of Icarus
Agoraon imported goods. When Greece joined the euro, it was importing about 3 billion euros of good per... stagnant by comparison. When Greece entered the euro, it exported 1 euro for every 3 it imported. By 2009... deficit had reached 7.4 percent of GDP when the limit for the eurozone was 3 percent. Greece’s debt
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What is the state of play with Greek banks?
Economyat the end of August. A further reduction of new production well below 3 percent and the consequent gradual repricing of the total book close to 3 percent are anticipated to fetch some 900 million euros... of) their business plans 2) the first exercise of warrants, particularly for Alpha, which
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IMF report sees a number of risks lying ahead for Greece
EconomyProgrammeincluding: a) Market re-access. The first transaction involved a 5-year bond issuance of 3 billion... and 750 million respectively. c) Intra-governmental borrowing. Up to 3 billion of excess liquidity... is insufficient to deliver the targeted increase in the primary surplus (to 3 percent of GDP), while
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Greek loan rates remained well above euro area average in October
EconomyMacroeconomymonths. Over the same period, the yields of the competitive 3- and 6-month T-Bill issues recorded... easing by more than 3 percentage points. Despite the sharp drop, the Greek time deposit rate still... rates hiked 51 bps to 5.63 percent remaining more than 3 percentage points above the average euro
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The bad hand being dealt to Greece's next government
Agora. By the end of November, the current government had used up 7 billion euros in repos, leaving room for only 2 to 3 billion more, according to reports. Revenues sinking Meanwhile, tax revenues plummeted by 17.7.... This left Greece’s primary surplus for the year 3 billion euros short of the target, meaning the new
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Eurosystem funding for Greek banks shoots up by 11.2 bln in December
EconomyMacroeconomyin December reflects the combined effect of: 1) Deposit outflows of circa 3 billion in December, which... transfer abroad 2) T-Bill issues of 5.2 billion in December, of which 1.6 billion refers... issues stood at circa 60 percent 3) Gradual lack of renewal of interbank repos up to 9 billion 4
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What are Greek coalition's plans for privatisation programme?
Economy(small PPC). 2) The sale of a 66 percent share in the Independent Power Transmission Operator (IPTO... to be completed in 2015. 3) The sale of a 17 percent stake in PPC. The liberalisation of the energy... by the Technical Chamber of Greece, showing that its value was worth 3 billion euros, more than 3 times
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