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Unemployment at 18.9 pct in August, unemployed remain under 1 mln
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate fell just below 19 percent to 18.9 percent in August, from an upward revised figure of 19.1 percent in July, the Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday. For the same time las...
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The Agora podcast - Episode 1 (Greece & Covid-19)
AgoraOur first podcast is on (what else?) the coronavirus. Host Nick Malkoutzis discusses with MacroPolis co-founder Yiannis Mouzakis and the website's features writer Georgia Nakou about how Greece has coped with the public health challenge of Covid-19 and ...
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Budget primary deficit at 8.14 bln by end-May, almost 1 bln off target
EconomyMacroeconomyThe budget primary balance was confirmed at a deficit of 8.14 billion euros in the first five months of the year, compared to a deficit of 4.84 billion in the same period of 2020, the final Finance Ministry (MoF) budget execution bulletin for May showed...
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IMF trims 1 point off 2022 growth, makes major revision to inflation forecast
EconomyMacroeconomyThe International Monetary Fund (IMF) released its latest global macro and fiscal estimates in the context of the spring meetings currently held in Washington, capturing the impact of inflation on growth. Specifically for Greece, growth for this year wa...
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Credit flow turns negative in July with outflow for corporations at 1 bln
EconomyMacroeconomyThe credit expansion in the Greek private sector kept up its recent pace in July, rising by 6.4 percent year-on-year (YoY), from 6.1 percent in the previous month, Bank of Greece (BoG) figures released on Wednesday showed. The net lending flow was negat...
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Unemployment stable at 9.4 pct in Dec, improves by 1 point in 2024
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained below the 10 percent mark in December, edging down marginally to 9.4 percent, from 9.5 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. In Decemb...
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Greece and the euro: The flight of Icarus
Agora. When one considers that Greece accounts for less than 4 percent of the eurozone’s total debt or GDP... costs for Greek citizens also declined sharply. As a result, Greece began posting growth rates of 4... stagnant by comparison. When Greece entered the euro, it exported 1 euro for every 3 it imported. By 2009
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An issue of statistical significance in Greece
Agoradeficit for that year should have been just under 4 percent of GDP, rather than the final figure... than 1 percent of GDP in 2009. To put things in perspective, the only period in the last 20 years that Greece produced a deficit under 4 percent was between 1999 and 2001, after a period of austerity
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Greek Parliament's budget office questions primary surplus sustainability
EconomyMacroeconomy. Although the PBO thinks the recent 5-year bond issue (the first in the last 4 years) was a success... include: 1) tourism, alternative sources of tourism, agricultural and fishing tourism, 2) education and human resources, 3) alternative energy sources, 4) hydrocarbons, 5) maritime, 6) organic crops
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Fitch upgrades Greek credit rating to B with stable outlook
EconomyMacroeconomysovereign rating upgrade in 2014 and comes after Moody’s postponed a rating action on April 4. S&P affirmed.... Moody’s rating stands 3 notches lower than that of S&P and 4 notches below Fitch. Fitch notes... in the next quarters. The next rating actions are scheduled for August 1 by Moody’s, September 12
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