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GDP growth slows to 0.2 pct QoQ in Q2 due to lower investment, higher imports
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP grew by 0.2 percent quarter-on-quarter (QoQ) in the second quarter (Q2) of 2018, after an upwardly revised increase of 0.9 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) provisional est...
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PWC report finds Greek fire damage above average despite lower incidence
SocietyA report by PricewaterhouseCoopers (PwC) which examined Greece’s firefighting capabilities has found that the country’s system is ineffective when compared to peers. As a result, the country’s fires are particularly devastating to its natural forest are...
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PMI comes to 53.8 in December as rise in foreign demand compensates lower domestic activity
EconomyMacroeconomyGreece’s manufacturing PMI dropped slightly to 53.8 points in December from 54 in November, staying over the 50-mark threshold for 19 consecutive months. The report noted that the rate of output growth remained solid despite the slowdown in the headline...
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IMF revises fiscal outlook, sees lower primary surpluses in coming years
EconomyMacroeconomyFollowing the publication of its global forecasts in the World Economic Outlook, the International Monetary Fund (IMF) released its Fiscal Monitor ahead of the autumn meetings due to take place in Washington this week. The previous Greek government canc...
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November travel receipts drop by 42.9 pct on lower French receipts
EconomyMacroeconomyGreece’s travel balance fell to a surplus of 87.4 million euros in November according to Bank of Greece (BoG) data released on Tuesday, a decline of 42.9 percent compared to the same time last year. Receipts came to 313.8 million euros, edging down by 0...
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Lower trading income for NBG keeps net profits at 490 mln in H1
EconomyBankingNational Bank of Greece (NBG) reported a profit after tax of 490 million euros from continued operations in H1 2022, compared to a profit of 645 million euros in the same quarter of 2021, a drop of 24 pct. Pre-provision income (PPI) stood at 686 million...
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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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Government focusses on cost of living with economy bill, push for lower ferry prices
PoliticsGreek PoliticsThe government is continuing its legislative spurt before the summer break in August with the unveiling of its second bill, which covers the economic pledges it made during the election campaign and which attempts to address continuing concerns about th...
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Industrial turnover drops by 7.2 pct in Dec, pulling 2023 figure 4.1 pct lower
EconomyMacroeconomyThe contraction in Greece’s industrial turnover accelerated in December, dropping sharply by 7.2 percent year-on-year (YoY) from a 2.5 percent decrease in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Tuesday. Th...
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Government tables 2025 budget, seeing stable growth, solid public finances and lower debt
EconomyMacroeconomyThe Finance Ministry tabled in Parliament on Wednesday the final budget for 2025, which sees stable growth and a solid fiscal performance that keeps the debt-to-GDP ratio on a downward trajectory. Next year’s growth is seen at 2.3 percent, from 2.2 perc...
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