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EC spring forecast sees growth of 2.2 pct in 2019, 2020 but warns of hampered public investments
EconomyMacroeconomyThe European Commission (EC) issued on Tuesday its regular spring forecasts for 2019, which showed that it is now expecting the country to grow by 2.2 percent this year compared to an estimation of 2 percent in the autumn forecast, and in line with the ...
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OECD lowers growth forecast, warns Athens to maintain fiscal credibility
EconomyMacroeconomyThe OECD published on Tuesday its latest global economic outlook in which it has slightly revised downward its forecasts for Greece’s economic growth over the next two years. This year’s growth is seen at 2.1 percent, slightly lower than the 2.2 percent...
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EC warns budget not on track due to handouts, advises against further underspend
EconomyProgrammeGreece’s official creditors have recently expressed at various levels their concerns about whether the country will be able to meet its fiscal commitments after adopting a new batch of expansionary measures last month, so it was no surprise that this is...
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IMF warns of uphill battle for economy as Athens seeks to close 2020 fiscal gap
EconomyProgrammeThe International Monetary Fund (IMF) concluded its consultations with the Greek authorities in the context of its Article IV mission with a statement issued on Friday afternoon in which its staff outline the challenges that the new administration will ...
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BoG highlights strong year for property in 2019 but warns of Covid-19 impact in 2020
EconomyFeaturesThe Bank of Greece (BoG) has made its first estimate of the impact of the coronavirus on the property market in Greece while outlining the positive year enjoyed by the sector in 2019. In the 2019 governor's annual report, BoG analysts said that 2019 was...
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IMF sees GDP shrinking by 9.5 pct in 2020, warns about pace of fiscal consolidation
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
EconomyProgrammeThe International Monetary Fund (IMF) concluded on Friday its second post-programme monitoring mission, which took place remotely, by publishing the staff concluding statement. This will be followed by a report that will be presented to the IMF board fo...
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Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
EconomyIn an unexpected move on Friday night, Moody’s upgraded Greece’s credit rating by one notch to ‘Ba3’ from ‘B1’, while it kept the outlook stable. Moody’s, which has its own rating scale, had not taken any upgrade action since March 2019 and was trailing...
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BoG warns pandemic will leave trail of bad loans, hastening need for new tools
EconomyBankingIn its regular release cycle of the financial stability report on Thursday, Bank of Greece (BoG) stepped up its warnings regarding the pandemic’s impact on the Greek banking system. Greece’s central bank notes that, according to its baseline scenario, t...
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PBO sees just 2.7% growth this year, warns about private debt
EconomyMacroeconomyParliament’s Budget Office (PBO) published on Tuesday its report for the fourth quarter of 2020, also updating its macro estimates for 2021. Following the extension of the lockdown into the full first quarter of 2021 and delays in the rollout of vaccina...
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PM warns Covid threat remains as 'wall of immunity' still being built
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis attempted to sound a note of caution on Monday regarding Covid-19, perhaps concerned that the latest relaxation of restrictions will lead to a resurgence of the virus in Greece. Key coronavirus numbers declined over th...
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