Search
-
Fitch leaves rating and outlook unchanged, underlines fiscal performance key to higher grade
Economyeconomy, and this has led Fitch to lower its estimate for this year to 3.5 pct, from 4.1 pct previously, and next year is also seen lower to 3.2 pct and a further slowdown to 2.8 pct in 2024. The recent rise in the minimum wage by 7.5 pct compared to the end of last year is seen as a mitigating factor
1% -
Energy products drive import price to second highest ever growth of 37.3 pct in May
EconomyMacroeconomyGreece’s import price index grew at a solid pace in May, posting another rise of 37.7 percent year-on-year (YoY), after a 39.1 percent in April, according to data released by the Hellenic Statistical...-on-month drop since August last year, falling by 2.9 percent.
1% -
US amendment on Turkish jets adds new factor in Athens-Ankara ties
PoliticsForeign Policydefense system. Earlier this year, joint Turkish production of a European missile was discussed when... Dendias. Greece and Turkey are heading for elections next year and such political conditions usually... heavily dependent on this year’s tourism revenues. So, diplomatic sources tend to believe that tension
1% -
Led by lending to corporations, June credit growth of 4.5 pct is highest in a decade
EconomyMacroeconomyCredit movement in the Greek private sector picked up pace in June, rising by 4.5 percent year-on-year (YoY), from 3.3 percent in May, and 2.8 percent in April, Bank of Greece (BoG) figures released... a peak of 3.7 pct in February last year with the latest figure for June being the highest credit growth
1% -
Producer prices climb by 39.9 pct in June, but record first back-to-back monthly drops since 2020
EconomyMacroeconomyThe pace of Greece’s Producer Price Index (PPI) annual growth slowed down further, still with another explosive rise in June of 39.9 percent year-on-year, after shooting up by 43 percent in May... consecutive months. This has taken the index from 102.63 points in February last year, to 149.91 points
1% -
Business transformation brings profit of 243 mln euros for Alpha Bank in H1
EconomyBankingbillion euros in the same period of 2021. Last year’s results were impacted by the bank’s business... was 586 million euros in H1, down by 23 percent from 764 million euros last year. NII was 303... capital increase that took place in July last year. The bank’s Total Capital Ratio in H1 2022 stood at 16
1% -
Inflation slows to 11.6 pct in July as housing and transport costs rise sharply
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) remained at record high levels in July, rising by 11.6 percent year-on-year, though it did slow down from the 12.1 percent seen in June, according to the data... of 1.6 percent in June. This is the first monthly drop since January this year and the second since
1% -
Govt puts focus on handouts, migration to take heat off surveillance affair
PoliticsGreek Politicsrises in electricity bills in the last four months of the year has already more than doubled from.... It also expects travel receipts to reach 19 billion euros by the end of the year, against expectations... euros, which could reach 2 billion euros by year end. Tourism is also a moving target. Government
1% -
Electricity price shock, pressure on phone-tapping take shine off surveillance exit
PoliticsGreek Politicsrevised from the original estimate of 850 mln euros until the end of the year to 2 bln euros, with most... from the budget for another “inflation cheque” by the end of the year, while it is also looking for permanent fiscal space from next year to implement its tax cut pledges and a pensions rise, while
1% -
Corporate lending leads credit to 5.5 pct growth in Jul, highest since Sep 2009
EconomyMacroeconomyCredit movement in the Greek private sector gathered more pace in July, rising by 5.5 percent year-on-year (YoY) from a 4.5 percent rise in June, and 3.3 percent in May, Bank of Greece (BoG) figures... a peak of 3.7 pct in February last year with the latest figure for July being the highest credit
1%