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General government debt rises to 205.6 pct of GDP in 2020
EconomyMacroeconomyGreece’s general government debt rose to 205.6 percent of gross domestic product last year... ratio from 180.5 percent in 2019. The general government’s budget deficit last year came to 16.1... with Eurostat’s ESA2010 regulation, uses a different statistical treatment to, and is not comparable
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Covid recession bumped pension spending to 18 pct of GDP in 2020
Economy, according to figures in the Finance Ministry’s Stability Programme. Pension spending rose to 18 percent... Commission’s 2021 Ageing Report, to be released later this month. In 2018 pensions spending in Greece... of Greece’s economic model – something that the government is banking on in its Greece 2.0 plan for how
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Unemployment at 16 pct in January
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate increased to 16 percent in January from a revised 15.6 percent from December, Hellenic Statistical Authority’s (ELSTAT) data showed on Monday... of 0.8 pps year-on-year. The latest available data from the Labour Ministry’s Ergani database
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Updated privatisation plan seeks to make up for ground lost in 2020
EconomyGreece’s asset development fund (HRADF) released its updated development plan on Monday, which... that were included in this year’s final budget back in November, Greece is due to collect nearly 1.8..., with the higher receipts in 2017 with 1.38 billion euros. This year’s planning sees 1.46 billion euros
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Industrial turnover jumps 18.6 pct in March vs last year's lockdown
EconomyMacroeconomyGreece’s industrial turnover increased 18.6 percent from a year earlier in March, compared... of 2.2 percent the month before. In the domestic market, March’s increase in industrial turnover was led... 47.7 percent. Turnover for non-eurozone countries rose 10.1 percent. In other indicators, Greece’s
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Alpha Bank announces 800 mln share capital increase; Q1 net loss of 282.2 mln
EconomyBankingas the leading bank partner in this transformation.” The bank’s Q1 net loss was wider than the 30... billion euros of TLTRO III borrowing, following an improvement in the bank’s borrowing allowance. The Group’s gross loans amounted to 49.8 billion, an increase of 700 million euros QoQ. Loan balances
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PM hails Covid certificate but concerns mount in tourism sector
PoliticsGreek Politicsincreasingly anxious that visitor numbers will remain relatively low over the months ahead. This week’s... attractive for tourists to visit Greece and boost one of the country’s key sectors. His government... from the lack of visitors from the EU, there is also concern that Greece remains on the UK’s “amber
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Unemployment at 15.9 pct in February
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate dropped to 15.9 percent in February from a revised 16.1 percent in January, Hellenic Statistical Authority’s (ELSTAT) data showed on Friday... to an increase of 0.7 pps year-on-year. The latest available data from the Labour Ministry’s Ergani
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Launch of new insolvency process may carry political significance
PoliticsGreek Politicshouseholds. While Cavusoglu’s visit, which included meetings with Prime Minister Kyriakos Mitsotakis... legislation from the start of June is likely to be more significant for the government’s political interests... in up to two months. Clearly, the scheme is even more relevant in the wake of the pandemic’s economic
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Amid promising signs for tourism, govt hedges its bets with targeted support
PoliticsGreek PoliticsThe pilot launch of the EU Digital Covid Certificate and the apparent improvement in Greece’s... to secure the European Commission’s approval under State Aid rules, as a “tonic injection at the right.... The PM used the opportunity to stress the importance of Greece’s participation in the first phase
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