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  1. EC tweaks forecasts, sees 2023 growth at 1.2 pct
    Photo by EC - Audiovisual Service

    EconomyMacroeconomy

    and 1 pct this year, with the winter forecast noting that inflation had an effect on growth... percent, while a 4.5 percent is expected this year and 2.4 percent in 2024. These estimates are revised... of this year and grow stronger in 2024, leading to the doubling of growth next year. The forecast

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  2. Newsletter 370 - 17/02/2023

    Newsletters

    and stressed that this does not jeopardise the fiscal goals for the year. Greece has committed.... Import prices The growth of import prices slowed further in December, increasing by 11 pct year-on-year (YoY), from 15.7 pct in the previous month. The index peaked at 39.1 pct in April last year

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  3. Economic sentiment improves for fourth straight month in Feb
    Photo by MacroPolis

    EconomyMacroeconomy

    . Although the indicator has recovered from the previous low of -57.9 of October last year, it remains... of March last year. The Employment Expectations Indicator (EEI) jumped by over 10 points month-on-month... of negative readings. Since March last year, industry confidence is down by 5 points. The services index

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  4. Balance sheet clean-up spurs Piraeus to net profit of 899mln, 1.22bln NII in 2022
    Photo by MacroPolis

    EconomyBanking

    Piraeus Bank posted a net profit of 899 million euros in the full year 2022, from losses of 3 billion euros last year, due to 3.87 billion euros in clean-up impairments in 2021. In 2022, clean-up... at the start of last year. P&L Net interest income (NII) came to 1.22 billion euros in 2022, versus 991

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  5. Jan delivers most negative hiring balance since 2017
    Photo by MacroPolis

    EconomyMacroeconomy

    last year was -25,804, suggesting a deterioration of 1,807 jobs. January was also the second worst... year-on-year, while voluntary exits were up by 9,915. Hires were up by 48,330 jobs compared to January last year, while departures are also by 50,137. The proportion of hirings for full-time work came

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  6. Unemployment edges up to 11.9 pct in Q4
    Photo by MacroPolis

    EconomyMacroeconomy

    Greece’s non-seasonally adjusted quarterly unemployment rate picked up slightly in Q4 last year.... The number of long-term unemployed (more than 1 year) came to 355,700 people, representing 63.7 percent... percent year-on-year. Permanent jobs were broadly stable at 2.62 million people, a drop of just 0.1

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  7. Lenders confident of being well-placed to overcome global banking sector turbulence

    EconomyBanking

    in the subsequent years, leading deposits to a multi-year high of close to 190 billion euros... and has pushed the stock of loans in January this year to 113.4 billion euros and one of the most... working towards this goal starting from last year. Alpha Bank was the Greek lender that issued the latest

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  8. Economic sentiment posts modest drop in Mar, consumer confidence recovers strongly

    EconomyMacroeconomy

    from the previous low of -57.9 of October last year, it remains at levels not seen since 2018 and on a rolling 12-month basis is improved from the -55.3 points of April last year. The Employment... month to 2.4 points after six months of negative readings. Since April last year, industry confidence

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  9. Trade deficit narrows by further 32.3 pct YoY in Feb
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyMacroeconomy

    . Although contained compared to the 3.34 billion euros of February last year, the trade deficit is still... as the trade deficit had already started widening by the end of 2021. As a measure, the year-on-year growth... and ships, the aggregate deficit was down by 11.9 percent, at 3.56 billion euros. Year to date, imports

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  10. Budget primary surplus at 3.07 bln in Mar on back of 2022 tax collections, underspend
    Photo by MacroPolis

    EconomyMacroeconomy

    ) budget execution data released on Wednesday. In the first three months of the year, the budget... of income taxes of natural and legal persons of the previous year, collected in instalments until the end of February 2023, as well as the best performance of the collection of VAT of the current year

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