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Govt prepares to increase energy subsidies, lifts most Covid restrictions
PoliticsGreek Politicsfor the first time on record, a four-fold rise in the space of a year. Energy suppliers have been urging... is expected to reach a total of 480 million euros by the end of the year, 300 of which will go... heating payments. Winter fuel payments totalled 70 million euros last year, while the government had
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CPI rises by 2.2 pct in Sept as prices shoot up at highest rate since 2012
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) continued its march in September, increasing by 2.2 percent year-on-year (YoY), after a 1.9 pct rise in August, according to the latest data from the Hellenic... by 2.4 percent. Up until May this year when CPI posted a marginal increase of 0.1 percent, the CPI
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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... with the same month last year. The geographical breakdown shows that imports from EU countries rose
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S&P holds off on new rating upgrade, ECB holds key to investment grade
Economy, closing the year with a ‘BB’ grade and positive outlook. The agency had said during its latest rating... notch during the pandemic, moving it up to ‘Ba3’ in November last year, one notch behind the other two... the current rating at risk. In its rating upgrade a year ago, Moody’s added that Greece could see further
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Trade deficit widens by 27.8 pct to 2.11 bln, led by oil products
EconomyMacroeconomyGreece’s trade deficit increased by 27.8 percent year-on-year (YoY) in September, from 43.3 percent in August, according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday... with September last year. The geographical breakdown shows that imports from EU countries rose by 15.7
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Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction
EconomyBankingwith a gross book value of 2.7 billion euros as of the end of last year. The implied valuation... billion euros and a single digit NPE ratio by the start of next year. Earlier in August, the bank... euros, or an NPE ratio of 21.3 pct, with an NPE reduction in the first half of the year at 23.31
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Oct CPI at highest since May 2011, led by natural gas, oil and electricity
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) continued its climb in October, rising by 3.4 percent year-on-year (YoY), from 2.2 percent in September, according to the latest data from the Hellenic Statistical.... Until May this year, when CPI posted a marginal increase of 0.1 percent, the index was in negative
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Pandemic and pushback rows spark political clashes
PoliticsGreek Politicssuch as backing some public protests) and of not acknowledging the efforts that have been made since last year... at the end of the government’s four-year period. The intense rumours regarding snap polls in spring... decision would be based on the state of public opinion next year. Clearly, if the Covid crisis takes its
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Credit growth stable at 0.9 pct in Oct, led by lending to corporates
EconomyMacroeconomyCredit movement in the Greek private sector increased by 0.9 percent year-on-year (YoY) in October, from a revised 0.8 percent in September and 0.8 percent in August, Bank of Greece (BoG) figures... a peak of 3.7 pct growth in February this year. The net lending flow turned negative to 42 million
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New pension legislation aims to speed up operations at overwhelmed EFKA fund
PoliticsGreek Politicsapplications from October last year, when 18,881 applications were processed compared to just 10,879 in October... employees, mostly from the healthcare and education sectors, are expected to submit their papers this year... to lose over 600 staff to retirement this year – twice the number who have departed in previous years
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