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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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Unemployment rate climbs back above 10 pct in Jan
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate stayed above 10 percent in January, landing at 10.4 percent, Hellenic Statistical Authority (ELSTAT) data showed on Friday. December’s unemployment rate was an upwards revised 10.4 percent, from 9.2 pe...
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Mitsotakis hits back on multiple fronts as SYRIZA sets out its economic pledges
PoliticsGreek PoliticsThere is no prospect of an Easter handout this year according to Prime Minister Kyriakos Mitsotakis, who said the government would focus instead on increasing earnings. Mitsotakis set out his spending plans for the health system, while opposition leader...
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Retail sales back in contraction for Jan, as volumes fall by 8.9 pct
EconomyMacroeconomyGreece’s retail sales went into contraction in January, with a drop of 2.3 percent year-on-year (YoY), after upwards revised growth of 7.6 percent in December, Hellenic Statistical Authority (ELSTAT) data showed on Friday. The corresponding volume index...
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