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Reshuffle back on the cards as PM unveils plans for Greek industry
PoliticsGreek PoliticsThe government appears to be moving towards a limited reshuffle, as the lifting of the lockdown nears its completion. The prime minister has also unveiled his vision for a national industrial strategy at the annual gathering of Greek businesses leaders....
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Authorities turn focus back to Covid-19 compliance as latest numbers trigger concern
PoliticsGreek PoliticsThe authorities are stepping up their efforts to encourage Greeks to take greater care not to spread the coronavirus after a significant rise in confirmed cases over the last few days. Over the weekend, a total of 185 new cases were registered. Of these...
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Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
EconomyIn an unexpected move on Friday night, Moody’s upgraded Greece’s credit rating by one notch to ‘Ba3’ from ‘B1’, while it kept the outlook stable. Moody’s, which has its own rating scale, had not taken any upgrade action since March 2019 and was trailing...
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Govt forced to back down over Easter travel, turns focus to May re-opening
PoliticsGreek PoliticsThe government has abandoned tentative plans to allow Greeks to travel to their ancestral villages for the upcoming Orthodox Easter, but hopes that this will allow schools and businesses to re-open next month. Government spokeswoman Aristotelia Peloni a...
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Current account shows deficit of 1.34 bln in June as tourism begins to come back
EconomyMacroeconomyGreece posted a current account (C/A) deficit of 1.34 billion euros in June compared to 1.4 billion euros in May, Bank of Greece (BoG) data showed on Friday. In June 2020, the balance showed a deficit of 1.43 billion euros, meaning that the month’s impr...
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Trade balance worsens as Aug produces 43.3 pct deficit on back of pick-up in non-EU activity
EconomyMacroeconomyGreece’s trade deficit increased by 43.3 percent year-on-year (YoY) in August, following a 28.9 percent increase in July according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday. The deficit came to 2.2 billion euros for the...
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Growth in car sales back up to 6.2 pct in Sept
EconomyMacroeconomyRoad motor vehicles going into circulation for the first time rose by 6.2 percent year-on-year in September, following an increase of 2.7 percent in August, according to Hellenic Statistical Authority (ELSTAT) data released on Monday. In August 2020, th...
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Current account surplus at 1.41 bln in Aug on back of improving travel receipts
EconomyMacroeconomyGreece posted a current account (C/A) surplus of 1.41 billion euros in August, from a surplus of 538.1 million euros in July, according to Bank of Greece (BoG) data released on Thursday. In August 2020, the balance showed a deficit of 150.8 million euro...
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Economic sentiment back up to pre-pandemic levels, reaching 113.4 pts in Nov
EconomyMacroeconomyGreece’s economic sentiment (ESI) continued improving in November, rising by 1 point month-on-month (MoM) to 113.4 points, following a 3.7-point rise in October, according to European Commission figures released on Monday. Economic sentiment had been im...
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Budget primary balance up to Feb beats target by 1.09 bln on back of underspend
EconomyMacroeconomyThe budget primary balance for the first two months of 2022 came to a surplus of 847 million euros, compared to a deficit of 1.5 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data releas...
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