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Travel balance to July soars by 19 pct, reaching almost 9 bln
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 3.88 billion euros in July, from 2.73 billion euros in June, according to Bank of Greece (BoG) data released on Thursday. July’s balance was roughly 14 percent higher than the 3.41 billion euros registered in July 2022. The balance in July 2021 was 2.16
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Newsletter 394 - 22/09/2023
coverage of tax returns data in the local media, with special focus on the self-employed, where seven
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Budget overperformance in Aug fuelled by VAT and income tax, spending significantly contained
EconomyMacroeconomyThe budget primary balance in August was confirmed at a surplus of 5.6 billion euros, compared to a surplus of 19 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Monday. In the first eight months of the year, the budget
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Building activity continues to grow, rising by 13 pct YoY in Jun
EconomyMacroeconomyBuilding permits recorded solid growth in June, rising by 13 percent year-on-year (YoY), after a rise of 15.8 percent in May, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Thursday. Permits have been growing annually this year except in February, which saw the first
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PBO draws attention to effects of climate crisis on public finances
EconomyThe Parliamentary Budget Office (PBO) has published its quarterly report, in which it confirmed that - based on data for the first half of 2023 - the Greek economy is on course to reach its growth outlook, although natural disasters over the recent months have clouded the growth and fiscal outlook
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Retail sales grow by 3.1 pct in Jul, as food sales continue to contract
EconomyMacroeconomyGreece’s retail sales returned to positive territory in July, with a rise of 3.1 percent year-on-year (YoY), after a drop of 1.3 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Friday. The corresponding volume index recorded a drop of 3.4 percent. Sales volumes have been
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Monthly rise of 3 pct for producer price index in Aug prompts cost concerns
EconomyMacroeconomyGreece’s Producer Price Index (PPI) contracted for the sixth successive month in August, dropping by 8.3 percent year-on-year (YoY), after falling by 8.6 percent in July, ELSTAT data showed on Friday. The index was in negative territory for most of 2020 and up to March 2021, when it grew annually
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Weak demand and adverse weather reflected in Sep PMI, barely in expansion territory
EconomyMacroeconomyGreece’s Manufacturing PMI remained in expansion territory in September, although it fell significantly to 50.3 points, from 52.9 points in August, according to S&P Global data released on Monday. This was the eighth straight month during which the conditions in the Greek manufacturing sector have
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Newsletter 396 - 06/10/2023
they did not grow by more than 8.3 pct. The latest hard data and survey findings in industry showed
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CPI rise eases to 1.6 pct in Sep, but food up by 9.4 pct
EconomyMacroeconomyThe upward trend in Greece’s Consumer Price Index (CPI) reversed in September with a 1.6-pct rise year-on-year (YoY), after an increase of 2.7 pct in August, according to the data released on Tuesday by the Hellenic Statistical Authority (ELSTAT). The average CPI for the rolling 12-month period
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