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Current account shows deficit of 1.13 bln in April, travel receipts crash as arrivals dry up
EconomyMacroeconomyGreece’s current account (C/A) balance posted a deficit of 1.13 billion euros in April compared... euros year-on-year (YoY). According to the BoG, April’s performance is primarily attributable... million, dropping by 97.8 percent against last year’s figure of 211.1 million. Travel receipts came
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ELSTAT shows decrease in material deprivation, poverty risk, while education mobility remains static
Societybe unable to pay for a week’s holiday away from home. The figure rose sharply for poorer households.... According to ELSTAT’s findings, persons at risk of poverty or social exclusion represent 30 percent... (including pensions) represent 31.6 percent of total disposable income of the country’s households
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Bill to regulate demonstrations stirs opposition reaction
PoliticsGreek Politicsthat Kyriakos Mitsotakis’s centre-right government is hoping to pass by July 31. Protests and marches... for the prevention of violence. Reactions The opposition’s reaction to the bill has been vociferous, accusing the government of promoting an authoritarian agenda. SYRIZA’s citizen protection spokesman Yiannis Ragousis
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Criticism of Athens "Great Walk" prompts debate on public spaces
PoliticsGreek Politicsand leader of the “Open City” coalition on the council described the mayor’s actions as “deeply... degrade the city’s public spaces. Alongside this, however, it has brought to the fore a growing... with the arrival of 235 international flights at Greece’s 17 regional airports, the realisation
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OECD forecasts unemployment increase into 2021
EconomyFeaturesthe single hit scenario, Greece’s employment growth is set to fall by 3.5 percent this year and by 1... percent in 2021 which is stronger than Greece’s projection. Regarding jobs at risk due to the crisis, Greece’s dependence on tourism and seasonality trends were laid bare by the fact that 55 percent
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Most businesses think two years needed to overcome Covid-19, expect more govt assistance
EconomyFeaturesof the pandemic on the country’s economy, 74.4 percent of respondents believed that it has been severe... with the government’s response to businesses and the self-employed, followed by somewhat satisfied (32.9 percent..., having already suffered under Greece’s economic crisis (58.8 percent), followed by lack
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Contribution made by privatisations to GDP since 2010 underlined in new study
EconomyFeaturesGreece’s Foundation for Economic and Industrial research (IOBE) has presented a new study which... found that privatisations added 1 billion euros annually to Greece’s GDP over the period in question... million by 2034, with the lion’s share in 2022 (120 million euros). In addition, provided
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Current account shows deficit of 913.9 mln in May as travel receipts evaporate
EconomyMacroeconomyGreece’s current account (C/A) balance posted a deficit of 913.9 million euros in May compared... billion euros year-on-year (YoY). According to the BoG, May’s performance is primarily attributable... showed a small surplus of 9.1 million, dropping by 99.3 percent against last year’s figure of 1.34
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Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020
EconomyFitch re-affirmed Greece’s credit rating to ‘BB’ on Friday night, maintaining the stable outlook... the rating unchanged to ‘BB-‘. Fitch notes that Greece’s rating is supported by the high per capita... in the ECB’s emergency asset purchase programme, the first time there was such an initiative after
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Unemployment rate jumps to 17 pct in May
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate came to 17 percent in May from a slightly upward revised figure of 15.7 percent in April, Hellenic Statistical Authority’s (ELSTAT) data showed... percent, having previously been among the lowest. This reflects the island’s high dependency
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