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EC cuts 2023 growth forecast by more than half to 1 pct
EconomyMacroeconomyIn the European Commission’s autumn economic forecasts just released, Brussels confirmed a solid year of growth for Greece in 2022 and a significant downward revision of next year’s estimate. Greece... expected 8.9 pct headline inflation this year and 3.5 pct next year. In the latest forecast, this year’s
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Job market slows this year as 67,202 fewer jobs created up to Oct
EconomyMacroeconomyGreece’s employment balance went into deep negative territory in October as there were 115,856 more departures than hires in the labour market, according to data from the Labour Ministry’s Ergani... balance by 75,056, adding on last month’s 39,021 fewer jobs in the sector, followed by catering
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Travel balance of 14.13 bln to Sep beats 2019 record
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 2.67 billion euros in September, from a 3.83-billion-euro surplus in August, according to Bank of Greece (BoG) data released on Tuesday. September’s... that was severely impacted by the Covid-19 pandemic. Most notably, August’s balance is just short of the 2.67
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Unemployment drops to 11.6 pct in Oct, lowest since 2010
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained broadly stable in October, dropping to 11.6 percent, from an upwards revised 12 percent in September, Hellenic Statistical Authority... data from the Labour Ministry’s Ergani database showed that Greece’s employment balance went
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BoG revises 2023 growth to 1.5 pct as short- and medium-term challenges persist
EconomyMacroeconomyat 5.8 pct next year and 3.6 pct in 2024, and not before 2025 will it approach the ECB’s medium-term goal... as a percentage of GDP, exceeding 6 pct in 2023 and staying close to the 6 pct mark up to 2025. Greece’s central..., keep wage developments away from affecting the country’s competitiveness, address distortions
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Arrivals nearly double year-on-year in 10M, travel receipts exceed 17 bln
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 1.31 billion euros in October, from 2.67 billion euros in September, according to Bank of Greece (BoG) data released on Thursday. October’s balance... by the Covid-19 pandemic. Most notably, October’s balance is higher than the 1.2 billion euros of October 2019
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PDMA sets out modest debt strategy for 2023
EconomyMacroeconomyGreece’s debt managers published on Friday the debt strategy for 2023, when Greece is expected... and refinancing needs. Greece’s total funding needs for next year stand at 15.4 billion euros, according... & I. Fitch is two notches from investment grade and Moody’s is further behind at three notches.
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Nov job data delivers worst employment figures on record, as 2022 produces 71,700 fewer places
EconomyMacroeconomyGreece’s employment balance went further into deep negative territory in November, with 83,627 more departures than hires according to data from the Labour Ministry’s Ergani information system... month’s 75,056 fewer jobs in the sector, followed by catering with 22,181 fewer jobs, on top
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Unemployment unchanged at 11.4 pct in Nov
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained broadly stable in November, dropping to 11.4 percent, from a slightly downward revised 11.5 percent in October, Hellenic Statistical... the Labour Ministry’s Ergani database showed that Greece’s employment balance remained into deep negative
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Does the EU Commission suffer from optimism bias? (Part 1)
Agoraon Daniel Kahneman’s important book “Thinking, Fast, and Slow” to suggest that the EC may suffer... by the end of the projection horizon.” (2021 Ageing Report, part 1, page 66) The end of the Report’s...’s horizon is 2070. This was extended through 2100 with constant rates of change from 2070. Bob Traa
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