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CPI falls by 1.6 pct YoY in June
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) fell by 1.6 percent year-on-year (YoY) in June compared... showed no change compared to May. In the year so far, two positive changes were noted in January..., prices are expected to decrease further during the rest of the year and will start increasing
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Building permits fall by 22.4 pct in April
EconomyMacroeconomyBuilding permits fell by 22.4 percent year-on-year (YoY) in April compared to a rise of 10.2... the first four months of the year, building permits rose by 24.4 percent. Total permits in the aggregate.... Compared to the same month last year, construction confidence has decreased by 0.3 points.
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PM in search of recovery fund boost as parties clash over latest Novartis episode
PoliticsGreek Politicsbusinesses so far this year, Mitsotakis is relying on the emergency funds from the EU from next year... this year and only recover by 6 pct in 2021. Greece stands to receive up to 32 billion euros in funding.... Athens is aware that it will have to present credible projects for financing later this year
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Industrial turnover drops by 30.4 pct in May
EconomyMacroeconomyGreece’s industrial turnover fell by 30.4 percent year-on-year (YoY) in May compared to a drop of 35.4 percent in April, Hellenic Statistical Authority (ELSTAT) data published on Monday showed. May’s... by 2.7 points month-on-month to stand at -18.1 points. Year-on-year, industry confidence has fallen
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Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020
Economythe same at 5.1 pct growth next year, subject to potential new virus outbreaks. On the fiscal front... to 197 pct of GDP this year, compared to a ‘BB’ median forecast of 59.4 pct, however Fitch sees... to 3.4 pct from 1.4 pct of GDP last year. Outlook Fitch notes that the factors that could lead combined
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Banks step up securitisation drive following pandemic interruption
EconomyBankingHaving experienced a setback earlier in the year, when the pandemic broke out and led... in November last year. Project Galaxy consists of three securitisations Orion, Galaxy II and Galaxy IV... to complete by the end of the year. Phoenix consists of 58,000 loans from 22,000 borrowers
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NBG results show net profits of 465 mln euros on strong income
EconomyBanking. Year-on-year (YoY), the figure fell by 14 percent to 268 million in H1 2020 compared to H1 2019. Asset... euros are expected to be signed in the second half of this year. P&L Net interest income (ΝΙΙ) fell..., the underlying CoR stood at 97 bps in the first half of the year. Eurosystem funding amounted to 10.5
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Industrial turnover drops by 3.8 pct in June, slowing from previous months
EconomyMacroeconomyGreece’s industrial turnover fell by 3.8 percent year-on-year (YoY) in June compared to a drop of 30.4 percent in May, Hellenic Statistical Authority (ELSTAT) data published on Wednesday showed... rose by 4.8 points month-on-month to stand at -13.3 points. Year-on-year, industry confidence has
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Retail sector struggles through pandemic
EconomyFeatures, but this has not materialised this year. Around 68 percent of surveyed businesses said that they had... in their turnover year-on-year (YoY). Seventy-seven percent of companies surveyed introduced... by the drop in revenue this year. Almost eight out of 10 small companies with an annual turnover of less
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Insolvency code, 'second chance' for debtors unveiled as ND eyes social impact of crisis
PoliticsGreek PoliticsMinister Christos Staikouras said that his department still believes that this year’s contraction... the second quarter of the year is due to be published by ELSTAT next week. In the tourism sector... price reduction of 42.7 percent. Over the first seven months of the year occupancy was at 39.2
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