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Unemployment continued downward course in Feb, falling to 16.1 pct
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate came to 16.1 percent in February from a downward revised reading of 16.2 percent in January, Hellenic Statistical Authority’s (ELSTAT) data showed... Macedonia was the highest at 21 percent. The latest available data from the Labour Ministry’s Ergani
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Industrial production edges up by 0.6 percent in March
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) increased by 0.6 percent year-on-year (YoY) in March.... Industry confidence is currently at the lowest it’s been since June 2017, when the reading fell to -7.3. In addition, Markit’s PMI for April registered its worst ever reading as the impact from
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Reshuffle speculation rebuffed as Greece launches third stage of lockdown relaxation
PoliticsGreek Politicswas described as “risky and unnecessary” by SYRIZA’s former education minister Nikos Fylis. New Democracy... appear to reflect concern in the Prime Minister’s Office that recurring speculation about snap elections... an early trip to the polls later this year in a bid to capitalise on New Democracy’s large lead
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Current account shows deficit of 1.10 bln in March as Covid-19 hits trade & travel
EconomyMacroeconomyGreece’s current account (C/A) balance posted a deficit of 1.10 billion euros in March compared... million euros year-on-year (YoY). According to the BoG, March’s performance is primarily attributable... million, falling by 53.6 percent against last year’s figure of 68.1 million. Travel receipts came to 92.2
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Govt lays out recovery plan to October, launches tourism roadmap
PoliticsGreek Politicsby the Hellenic Development Bank’s Guarantee Fund which will begin accepting applications in June... projects, and attract inward investment. The government’s package was greeted with some scepticism... in the package underline the government’s determination to open Greece to tourism as soon as possible
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NBG results show net profits of 409 mln euros on strong trading income in Q1
EconomyBankingfrom the Tier II issuance in July 2019. The bank’s domestic loan disbursements were up 53 percent YoY... percent of their clients are estimated to be highly affected by Covid 19. The bank’s total exposure... to deal with the current uncertainty. “NBG’s balance sheet strengths and strategic flexibility
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Retail sales down by 1.5 pct in March for first fall in seven months
EconomyMacroeconomyGreece’s retail sales index fell by 1.5 percent in March from a slower increase of 3.6 percent in February, Hellenic Statistical Authority (ELSTAT) data showed on Friday. March’s negative reading... drop of 16.1 points month-on-month in April. Consumer confidence is the lowest it’s been since
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Return to school marked by protests over education bill
PoliticsGreek Politicsthe government’s decision to re-open schools was questioned by a large segment of public opinion... on Sunday, Kerameus underlined her determination to proceed with New Democracy’s education reform agenda.... By the government’s own figures, fewer than half of state school pupils participated in online
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Lockdown reduced spread of Covid-19 by 80 pct, research indicates
SocietyGreece’s early and aggressive tackling of the coronavirus pandemic in the country led to a drop... contributions from the leading voice in the country’s response, Professor Sotiris Tsiodras. It showed that at the point before any measures were put in place, Greece’s basic reproduction number, or R0 number
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GDP falls by 1.6 pct QoQ in Q1 and by 0.9 pct YoY
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP fell by 1.6 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2020 after a decrease of 0.7 percent in Q4 2019, provisional estimates from... recovering by 15.6 percent in 2021. Outlook According to the MoF’s revised forecasts for Greece’s GDP
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