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Unemployment stable at 12.2 pct in August despite strong tourism season
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained stable in August at 12.2 percent, after a downward revision in July, from 12.6 percent, Hellenic Statistical Authority (ELSTAT) data showed on Friday. In August last year, the unemployment rat...
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Budget primary balance continues strong performance in Oct, ahead of target by 6.4 bln
EconomyMacroeconomyThe budget primary balance up to October 2022 came to a small deficit of 349 million euros, compared to a deficit of 7.18 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on T...
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Military chief caught in wiretapping affair's sights, prompting strong ND response
PoliticsGreek PoliticsIn line with the pattern of recent months, the week began with the government and SYRIZA arguing over an aspect of the surveillance scandal, this time concerning the chief of the Hellenic National Defence General Staff, Konstantinos Floros. On Sunday, l...
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Inaugural 2023 bond attracts strong demand and steep interest
EconomyMacroeconomyGreece had its inaugural bond issue for 2023 on Tuesday with a 10-year benchmark that covered half of the country’s debt strategy for the year thanks to the high demand. The Public Debt Management Agency (PDMA) drew 3.5 billion euros for a June 2023 mat...
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Strong start for travel receipts in Jan, rising by 72 pct YoY to 224.2 mln
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 26.3 million euros in January, from 71 million euros in December, according to Bank of Greece (BoG) data released on Tuesday. January’s balance was 40.2 percent lower from the 44 million euros registered in ...
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Strong tourism season has little impact on unemployment, hovering at 10.8 pct in July
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate was essentially unchanged in July, landing at 10.8 percent, from a slightly downward revised 11 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. In July last year, the ...
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Apartment prices rise in Q2 by a strong 13.9 pct YoY despite slight slowdown
EconomyMacroeconomyThe growth in the nominal value of apartments in Greece remained on a stolid path in Q2 2023, increasing by 13.9 percent year-on-year (YoY) from an upwards revised 15 percent in Q1 2023, Bank of Greece (BoG) data released on Tuesday showed. This is a sl...
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Draft budget sees growth picking up in 2024, strong revenues driving primary surplus to 2.1 pct of GDP
EconomyMacroeconomyThe Finance Ministry tabled in Parliament on Monday the draft budget for 2024, with Greece seen growing by 3 pct in 2024 and securing a primary surplus of 2.1 pct of GDP. The economy is seen maintaining its momentum, with growth rising from the 2.3 pct ...
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Seasonal factors lead to strong deposit growth of 6.4 bln euros in Dec
EconomyMacroeconomyThe net private sector deposits in the Greek banking system grew strongly, as is the seasonal trend, in December with a jump of 6.38 billion euros, after a negative movement of 747 million euros in November, based on the latest Bank of Greece (BoG) figu...
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Strong start to budget execution in 2024 as Jan brings 2.12 bln primary surplus
EconomyMacroeconomyThe budget primary balance started the new year strongly with a surplus of 2.12 billion euros in January, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Thursday. In January, the primary balance outperformed...
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