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Budget primary surplus up to 1.73 bln in Q1 as gov't holds back expenditure
EconomyMacroeconomyGreece’s 3-month budget primary surplus was confirmed at 1.73 billion euros, up 12.4 percent, according to the Finance Ministry (MoF) final budget bulletin published on Friday. Preliminary figures had been released on April 16. The outperformance of the...
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Parliament Budget Office sees Greece heading for recession on back of uncertainty
EconomyMacroeconomyThe Parliamentary Budget Office (PBO) has highlighted in its quarterly report the dangers for the Greek economy being cause by the current uncertainty. According to the body, elections, the ongoing inability of lenders and Parliament to agree, the unres...
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Greece holds back spending, rakes in one-off revenues for 2.1 bln primary surplus at end of April
EconomyGreece’s budget execution showed the 4-month primary surplus more than doubled year on year (YoY), reaching 2.1 billion from 1.05 billion last year, according to the Finance Ministry (MoF) final budget bulletin published on Monday. The reading is 60 mil...
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Tsipras forges ahead with referendum as lenders hold back, wait for result
PoliticsGreek PoliticsPrime Minister Alexis Tsipras made it clear on Wednesday that he wants to push ahead with Sunday’s referendum, while Greece’s lenders also insisted that there could be no agreement on a bailout deal unless the vote takes place. With both sides now pushi...
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After 'No' vote, pulling Greek banks back from brink a priority
EconomyWith a clear win of ‘No’ vote in Greek referendum, the situation for Greek banks is expected to remain on the brink with a negative outlook. Greek bankers will meet with the Alternate Finance Minister Dimitris Mardas later this evening to assess their l...
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Tsipras holds off on reshuffle, suggests no way back for rebels
PoliticsGreek PoliticsPrime Minister Alexis Tsipras put off plans for a reshuffle on Thursday and may delay changes to his cabinet until next week, when a second set of measures demanded by lenders are due to be voted through Parliament. Tsipras is said to be discussing with...
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Loose ends to tie up on prior actions as lenders head back to Athens
PoliticsGreek PoliticsHaving got through the parliamentary debate and vote on the first set of prior actions Greece has to carry out this autumn without any major problems, the government now begins the potentially more complicated task of reaching an agreement with its lend...
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Industrial production back on downward trajectory with 1.9 pct drop in Oct
EconomyMacroeconomyAfter rising in the preceding two months, Greek Industrial Production Index (IPI) fell by 1.9 percent in October, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. The October headline figure is the fifth negative reading in the 10-month ...
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Greek-Turkish relations back in focus amid overflights and NATO chief's visit
PoliticsForeign PolicyThe state of Greek–Turkish relations will be the main issue under discussion at the National Council of Foreign Affairs to be convened under the chairmanship of Foreign Minister Nikos Kotzias, next Tuesday. Kotzias’s decision to convene the council, whi...
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PMI falls back into contraction territory in July, landing at 48.7 pts
EconomyMacroeconomyGreece’s manufacturing sector returned to contraction territory in July, according to data released by Markit on Monday. July’s PMI came in at 48.7 points following a slight growth in June with a reading of 50.4 points. Expansion in payroll numbers is t...
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