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BoG sees sustained growth, argues challenges require wide-ranging policy interventions
EconomyMacroeconomy, with GDP up by 2.2 pct this year, accelerating to 2.5 pct in 2025 and slightly more moderate at 2.3... for this year is slightly more conservative than the Finance Ministry’s 2.5 pct estimate submitted last month
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Credit expansion reaches just 66 mln of inflows in May
EconomyMacroeconomyThe credit expansion in the Greek private sector was little changed in May, rising by 4.8 percent year-on-year (YoY), from 4.5 percent in the previous month, Bank of Greece (BoG) figures released on Thursday showed. The net lending flow was positive by just 66 million euros after a negative
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Corporations lead way as deposits rise by 303 mln in May
EconomyMacroeconomyThe net private sector deposits in the Greek banking system slowed in May with a rise of 303 million euros, after a 384-million-euro rise in April, based on the latest Bank of Greece (BoG) figures released on Thursday. The annual growth in May was 2.5 percent year on year (YoY), from 2.8 percent
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Led by a sharp drop in food sales, retail contracts by 1.4 pct YoY in Apr
EconomyMacroeconomyGreece’s retail sales resumed the contraction in April with a 1.4 percent year-on-year (YoY) drop, after a strong rebound of 11.1 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Friday. The corresponding volume index recorded a solid decrease of 6.3 percent YoY. Sales have
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Ongoing rise in imports and tame exports elevate trade deficit to 3.39 bln in May
EconomyMacroeconomyGreece’s trade deficit recorded a solid rise of 13.6 percent year-on-year (YoY) in May, after a jump of 35.6 percent in April, according to data released by ELSTAT on Monday. The deficit came to 3.39 billion euros for May. Imports totalled 7.55 billion euros, rising by almost 7 percent YoY. Exports
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Scope leaves rating unchanged at BBB-, ups outlook to positive due to solid fiscal performance
EconomyScope Ratings kept Greece’s rating unchanged at ‘BBB-‘ on Friday. This is the lowest step of the investment grade that it granted Greece in August last year, but Scope upped the outlook to positive...+’. Scope has a rather modest growth outlook, with growth this year expected at 2 pct and 1.8 pct
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Loans to businesses propel credit expansion of 6.1 pct YoY in June
EconomyMacroeconomyThe credit expansion in the Greek private sector picked up pace in June, rising by 6.1 percent year-on-year (YoY), from 4.8 percent in the previous month, Bank of Greece (BoG) figures released on Thursday showed. The net lending flow was positive by 3.31 billion euros after a movement of just 66
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Business deposits at forefront of June's 3.83 bln rise in savings
EconomyMacroeconomyThe net private sector deposits in the Greek banking system shot up in June with a rise of 3.83 billion euros, after a 303-million-euro rise in May, based on the latest Bank of Greece (BoG) figures released on Thursday. The annual growth in June was 2.9 percent year on year (YoY), from 2.5 percent
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Primary surplus reaches 2.91 bln in Jun as VAT and corporate tax lead revenue outperformance
EconomyMacroeconomyThe budget primary balance was confirmed at a surplus of 2.91 billion euros in June, compared to a surplus of 2.12 billion euros in the same month a year earlier, according to the final Finance... payments came to 5.19 billion euros, above target by 369 million euros. Last year, interest payments were
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SYRIZA seizes on latest spyware reports to renew pressure on government
PoliticsGreek Politicsby authorities last year that he was one of the Predator targets because of these financial transactions. “We... and continues to have unpredictable consequences, such as the clash last year over the role
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