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  1. Banks end year with continued bad loan sales

    EconomyBanking

    At the end of a challenging year for the banking sector, Greece’s systemic banks have continued their activity to reduce bad loans with a few days of 2020 left. Piraeus Bank announced at the end... of the pre-crisis instalment for periods up to one year. This entails loans of 17 billion euros that were

    5%

  2. Pandemic drove 28.4 bln of bank loans into moratorium last year
    By Panayotis Tzamaros/Fosphotos

    Economy

    The quantity of loans that went into moratorium last year from the end of March stood at 28.4 billion euros, according to an update from the Finance Ministry. This amount came from 405,473 loans, and suspension of payments for most of these will run through March of this year under the moratorium

    5%

  3. PBO sees just 2.7% growth this year, warns about private debt
    Photo by Panayiotos Tzamaros

    EconomyMacroeconomy

    for this year in Greece, Although the Finance Ministry’s estimates for 4.8 pct growth from the final budget... that all GDP variables are in recovery mode from last year’s shock, and they are heading towards the pre

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  4. EC revises growth estimate upward to 4.1 pct this year, 6 pct in 2022

    EconomyMacroeconomy

    . The Commission sees the Greek economy growing by 4.1 this year and 6 pct in 2022, compared to 3.5 and 5... the economy in the first half of the year, the authorities adopted a series of tax reduction measures

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  5. BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead
    Photo by Panayiotis Tzamaros/Fosphotos

    Economy

    a stronger rebound in the second half of the year, as restrictions are lifted, private consumption recovers... the lockdown that was introduced in mid-November last year and it was only relaxed in May

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  6. High participation in bond swap provides end of year boost

    Economy

    this year. Last Monday, the PDMA announced an invitation to bondholders of certain GGBs that mature... expected to act quickly on the debt strategy next year, frontloading issues in the first quarter

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  7. PMI drops to lowest in more than a year at 53.8 pts, but manufacturing remains on solid ground
    Photo via https://flic.kr/p/29HRurs

    EconomyMacroeconomy

    Greece’s Manufacturing PMI dropped by one point in May to 53.8 points, according to S&P Global data released on Wednesday. May PMI is the lowest in more than one year, but still indicates solid... manufacturers as the year progresses. Although firms were more upbeat regarding the outlook, our

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  8. Pension rises approved as public opinion teeters ahead of election year
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    in their retirement package next year, ahead of the general elections. The survey by Metron Analysis..., although the economic environment is expected to be tougher next year than in 2022 as a result of lower

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  9. Greek manufacturing PMI at 51.3 pts in Dec, nearing a year of expansion
    Photo via https://flic.kr/p/2b7ecKE

    EconomyMacroeconomy

    on Monday. The conditions in the Greek manufacturing sector have been improving for nearly one year... year, amid hopes of greater investment and further improvements in client demand.

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  10. Record year for Greek tourism raises concerns about sustainability
    Photo by MacroPolis

    EconomyFeatures

    that 2023 will also be remembered as the year when the term “overtourism” entered the Greek lexicon.... This year is expected to deliver another bumper season, providing a crucial contribution to the economy

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