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Growth strategy sets out reform targets, broad policies for post-MoU era
EconomyProgrammebetween 2021-2022 as employment will grow by 1.8 percent per year, leading to a reduction.... The government sees the main industries of focus in energy, the cyclical economy, agriculture, maritime... an international presence and attract foreign direct investment. Alongside the core industries, the government
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Cost of Greek corporate loans rises in April, remains well above euro average
EconomyMacroeconomyAfter remaining stable for the past five months, the interest rate on households’ new time deposits eased by 10 basis points (bps) to 2.71 percent in April, while the interest on corporate loans rose and remained well above the euro area average, accord...
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Opposition drags out pre-election process, hoping Tsipras pays cost
PoliticsGreek PoliticsNew Democracy leader Evengelos Meimarakis handed back on Monday morning the three-day exploratory mandate he received to form a government after Prime Minister Alexis Tsipras submitted his resignation last week. Meimarakis spent the previous three days ...
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Labour cost fall has not produced jobs, bemoans GSEE in study
SocietyThe significant fall in labour costs since the onset of the crisis has not led to a corresponding fall in prices and a boost in employment and competitiveness, defying conventional theories of internal devaluation, according to Greece’s private sector t...
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Govt counts fiscal cost as Greece heads for lockdown extension
PoliticsGreek PoliticsThe government is expected to announce the extension of the stricter lockdown in place in Attica and other parts of Greece for at least one more week due to the persistently high number of Covid-19 cases and the pressure on the national health system. R...
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CPI up by 1.4 pct in July as higher fuel prices and cost of electricity filter through
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) increased by 1.4 percent year-on-year (YoY) in July, accelerating from the 1 percent rise in June, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Monday. The average CPI for ...
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New Democracy's lead narrows amid cost-of-living worries, mixed feelings over Ukraine
PoliticsGreek PoliticsPrice hikes are a growing source of concern for Greeks according to the latest opinion poll, which also suggests that support for the New Democracy government has slipped rapidly in the last few days. The survey by Marc for ANT1 TV shows that ND’s lead ...
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Monthly and volume retail sales data shrink in May, reflecting cost-of-living crisis
EconomyMacroeconomyThe growth in Greece’s retail sales experienced a significant slowdown in May, rising by 5.1 percent year-on-year (YoY) from a solid 18.8 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday. Greece’s second lockdown was intro...
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SYRIZA and ND square up on cost-of-living crisis as government attempts to draw line under surveillance
PoliticsGreek PoliticsThe opposition has upped the stakes in its attempt to challenge the government’s economic narrative, indicating that this will be the main avenue of attack on New Democracy’s record on the road to elections. In the first Prime Minister’s Hour of the par...
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Piraeus reports 729 mln profit as cost of balance sheet clean-up drops by 3.5 bln
EconomyBankingPiraeus Bank posted a net profit of 729 million euros in the nine months (9M) of 2022, from losses of 3.09 billion euros last year, due to 3.75 billion euros in clean-up impairments in 9M 2021. In 9M 2022, clean-up impairments stood at 287 million euros...
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