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Trade deficit shoots up by 52.8 pct in Oct as imports exceed pre-pandemic levels
EconomyMacroeconomyGreece’s trade deficit jumped by 52.8 percent year-on-year (YoY) in October, from an increase of 27.8 percent in September and 43.3 percent in August, according to data from the Hellenic Statistical...; an increase of 36.6 percent compared with October last year. The geographical breakdown shows
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Nov CPI shoots up by 4.8 pct amid big rises in energy prices
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) rose sharply in November, climbing by 4.8 percent year-on-year (YoY), from 3.4 percent in October, according to the latest data from the Hellenic Statistical... was in negative territory for the 12 months prior to May this year, when CPI posted a marginal increase
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Banks wrap up balance sheet transactions for 2021 on path to slashing NPEs
EconomyBankingIn the closing weeks of the year, Greek systemic banks have maintained their efforts to tidy up... by the end of next year. Following agreements reached earlier in autumn, Alpha Bank last week... quarter-on-quarter, from 61.75 billion euros in Q2. At the end of last year, loans managed
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Credit growth edges up to 1.1 pct in Nov
EconomyMacroeconomyCredit movement in the Greek private sector increased by 1.1 percent year-on-year (YoY) in November, from a rise of 0.9 percent in October and 0.8 percent in September, Bank of Greece (BoG) figures... reaching a peak of 3.7 pct growth in February this year. The net lending flow was positive by 470 million
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Trade deficit nearly doubles to 2.77 bln in Nov; largest since March 2012
EconomyMacroeconomyGreece’s trade deficit nearly doubled in November, jumping by 93.1 percent year-on-year (YoY), from a rise of 52.8 percent in October, according to data released by the Hellenic Statistical Authority... percent compared with November last year. This is the largest trade deficit figure since March 2012 when
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Govt looks to tweak relief in anticipation of record Covid infections, new inflation high
PoliticsGreek Politicsof last year. Alternate Finance Minister for fiscal matters Theodoros Skylakakis underlined once again that Greece is meant to contain the deficit this year and reach surpluses next year, adding, “we must
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Industrial turnover soars by 39.4 pct in Nov, index up by more than 42 pct since Feb 2021
EconomyMacroeconomyGreece’s industrial turnover remains on a solid recovery path, jumping by 39.4 percent year-on-year (YoY) in November, from 40.6 percent in October, according to data from the Hellenic Statistical... the pandemic struck. The first sign of recovery came roughly one year later, posting growth of 18.2
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Credit growth slows to 0.9 pct in Jan as loans to enterprises record highest net outflow since 2018
EconomyMacroeconomyCredit movement in the Greek private sector slowed to 0.9 percent year-on-year in January, from a rise of 1.4 percent in December and 1.1 percent in November, Bank of Greece (BoG) figures released... of 3.7 pct growth in February last year. The net lending flow was negative by 1.3 billion euros, after
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Govt readies additional inflation relief package, draws up new budget
PoliticsGreek Politicsflexibility will be available to member states this year as a result of developments. As the Finance Ministry rewrites this year’s budget, any extra room to manoeuvre would clearly be welcomed... Naftemporiki, there are three scenarios for growth. None of them see Greece tipping into recession this year
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Import price index shoots up by 31.8 pct as oil and natural gas soar by 25 pct MoM
EconomyMacroeconomyGreece’s import price index shot up by 31.8 percent year-on-year (YoY) in January, from a rise of 23.6 percent seen in December, according to data released by the Hellenic Statistical Authority... month. Import prices recorded their highest rise in October last year with a jump of 33.9 percent YoY
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