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Newsletter 380 - 12/05/2023
costed at about 5.5 billion euros a year, rejecting as fantasy the government’s claims that it could... on several occasions costed the programme at no more than 5.6 billion euros per year. During... of warning against complacency from the overperformance of revenues last year, which was largely
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PDMA nears completion of annual debt strategy, taking another cautious step
EconomyGreece’s debt managers have taken the next step in their borrowing strategy for this year by re... has issued two new bonds this year: A 10-year for 3.5 billion euros in January and a 5-year for 2.5... euros. Greece debt strategy for the year entails raising 7 billion euros. It is currently approaching
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On monetary policy and inflation targeting
AgoraThe setting. Consider two countries, A and B, that both aim to follow an inflation target, let us say 2 percent year-on-year (Y/Y) for the headline index of consumer prices (HICP).[2] Country A has... expectations will hold at a moderate level around 2 percent a year still needs to be seen. · Both countries
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NBG NII jumps 73 pct in Q1 to 497 mln
EconomyBankingto a profit of 360 million euros in 2022, a drop of 28 percent. Last year included one-off gains... billion euros in Q1 last year to 5 billion after repayments of 3.5 and 3.1 billion in the last two... increased to 17.6 pct, from 16.2 percent in Q1 last year.
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Building activity down 15.2 pct in Feb for sharpest drop since 2020
EconomyMacroeconomyAfter a solid start for 2023, building permits recorded a contraction of 15.2 percent year-on-year (YoY) in February, after a rise of 22.1 percent in January, according to the data released... two months of the year, permits are up by just 1.3 percent YoY to 3,387. The corresponding surface
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Producer prices record back-to-back decline in Apr as energy falls by 24.4 pct YoY
EconomyMacroeconomyGreece’s Producer Price Index (PPI) contracted for the second consecutive month in April, falling by 13.3 percent year-on-year (YoY), from a 10.9 percent contraction in March, ELSTAT data showed... annually by 9.1 percent. It had been growing ever since, gathering pace over a two-year period. This has
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Newsletter 384 - 09/06/2023
-year term. Although opinion polls indicate that the conservatives are on course to gain well over 150.... Exports of goods and services also sent encouraging signs, growing by 12.4 pct year-on-year (YoY
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Industrial production rises by 4.2 pct in April thanks to growth in electricity supply
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) picked up pace in April, rising by 4.2 percent year-on-year (YoY), after an upwards revised growth of 0.1 percent in March, according to Hellenic... marginally to 0.3 points after six months of negative readings. Since June last year, industry
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Growth of property prices picks up pace in Q1 with 14.5 pct
EconomyMacroeconomyThe growth in the nominal value of apartments in Greece remained on a strong trajectory in Q1 2023, increasing by 14.5 percent year-on-year (YoY) from an upwards revised 13.5 percent in Q4 2022, Bank... observed in 2020, despite the first year of the pandemic. In 2019, prices increased by 7.2 percent.
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Mitsotakis names extensive cabinet with dose of renewal
PoliticsGreek Politicsthat will kick in next year. However, it is clear that the new government will have to operate within a much... each year to ensure that Greece remains on the road to debt sustainability. Mitsotakis also pledged.... The upgrade is expected later this year or in early 2024. In practical terms, it will give Greece access
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