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Industrial production back in negative territory for Sep as electricity supply drops sharply
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) dropped into negative territory in September, falling by 1.1 percent year-on-year (YoY), after growing by 4.4 percent in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on...
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Building activity back to growth in Aug, but year-to date remains subdued
EconomyMacroeconomyBuilding permits growth in August resumed the growth trajectory with a rise of 12.6 percent year-on-year (YoY), after dropping by 2.3 percent in July, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Monday. The total ...
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Company revenues rise by 35.5 pct in 2022 on back of inflation and card transactions
EconomyMacroeconomyThe total turnover of enterprises in the Greek economy for 2022 jumped by 35.5 percent year-on-year (YoY), from 19.7 percent in 2021, based on data released by ELSTAT on Tuesday. Total turnover reached 461.24 billion euros, from 340.28 billion euros in ...
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Moody's keeps Greece three notches from investment grade, improves outlook on back of growth potential
EconomyAs expected, Moody’s kept Greece’s credit rating at ‘Ba3’ on Friday, while it improved the outlook from stable to positive. Moody’s has not taken an upgrade action since November 2020 and has Greece three notches from investment grade, behind the rest o...
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Budget primary surplus of 4.2 bln in Feb beats target on back of higher VAT, income taxes
EconomyMacroeconomyThe budget primary balance in February was confirmed to be a surplus of 4.22 billion euros, compared to a surplus of 840 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Monday. In ...
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Budget primary surplus at 3.07 bln in Mar on back of 2022 tax collections, underspend
EconomyMacroeconomyThe budget primary balance came to a surplus of 3.07 billion euros in March, compared to a deficit of 1.65 billion euros in the same period of 2022, according to the preliminary Finance Ministry (MoF) budget execution data released on Wednesday. In the ...
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CPI drops in Jun on back of lower energy costs, but food prices continue to climb
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) dropped below the ECB’s target of 2 pct in June, with a reading of 1.8 percent year-on-year (YoY), after growing by 2.8 percent in May, according to the data released on Friday by the Hellenic Statistical Authority (E...
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Kasselakis aiming to bounce back as SYRIZA continues to take hits
PoliticsGreek PoliticsStefanos Kasselakis is aiming to rebound after suffering another body blow to his leadership of SYRIZA in the form of the departure of more MPs and the publication of yet another opinion poll showing the left-wing party losing second place. Sources clos...
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Final budget data for Oct verifies solid tax revenues on back of indirect and income tax haul
EconomyMacroeconomyThe budget primary balance in October was confirmed at a surplus of over 6 billion euros, compared to a deficit of 350 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Monday. In th...
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Primary surplus confirmed at 5.83 bln in Nov on back of spending under-execution
EconomyMacroeconomyThe budget primary balance in November was confirmed at a surplus of 5.83 billion euros, compared to a deficit of 1.09 billion euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Wednesday. In...
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