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New 15-yr issuance and bond switch smooth maturity profile further, although at steep yield
EconomyMacroeconomyfor the two bonds exchange, and it is part of the programme to reduce Greece’s debt through the prepayment... of the GLF loans, Greece’s debt managers further smoothed the maturity profile of the next two years, reducing maturities by close to 7 billion euros, while maintaining the state’s cash reserves above
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Government focusses on cost of living with economy bill, push for lower ferry prices
PoliticsGreek Politics-right party’s second term is due to end. Centre-left PASOK reacted to the bill by arguing... to the public. Under Mitsotakis’s premiership, New Democracy has followed a consistent tactic... popularity, but also New Democracy’s strong performance.
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Economic sentiment indicators inch up again in July
EconomyMacroeconomyGreece’s economic sentiment (ESI) recorded a 1-point rise in July, after a 2-point increase in June, according to European Commission figures released on Friday. Sentiment has been improving in seven... of the previous month. The euro area’s ESI was 94.5 points, also down from the 95.3 points of June. July’s
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Inflation boosts food sales by 12 pct in May, supermarkets up by 14.3 pct
EconomyMacroeconomyGreece’s retail sales stayed positive in May, after the first negative reading in March since 2021... increased by 1.5 percent, after a 1.9 percent rise in the previous month. The volume’s monthly... rise in June, up by 31 points from August last year. Overall, Greece’s economic sentiment (ESI
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Unemployment rate hits 11.1 pct in June as recovery loses steam
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate landed at 11.1 percent in June, from an upwards revised 11.3 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday... Ministry’s Ergani database showed that Greece’s employment balance in June was positive by 28,761
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Alpha's net interest income rises to 863.7 mln, up 48.5 pct YoY
EconomyBankingperiod, to an NPE ratio of 7.6 percent, from 8.2 percent in H1 2022. The Group’s NPE cash coverage... rose by 3.9 percent to 145.3 million euros, from 140 million in 2022. Balance sheet The Group’s net... percent in H1 2022. The bank’s Total Capital Ratio stood at 18 percent, from 14.7 percent in H1 last
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Credit expansion slows to 1.2 pct in July as corporate loans contract
EconomyMacroeconomyshowed. At 6.3 percent, last December’s growth was the highest since the summer of 2009. However... again after May’s decline. The outstanding balance decreased to 112.49 billion euros, from 113.89 billion euros in June. The corporate lending balance’s net monthly flow was negative by 1.23 billion euros
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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.... The latest available data from the Labour Ministry’s Ergani database showed that Greece’s employment
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Hiring balance for 7M reaches record despite first negative July reading since 2019
PoliticsGreek PoliticsGreece’s employment balance in July turned negative by 8,294 more departures than hires, according to data from the Labour Ministry’s Ergani information system. The hiring balance in July last year... 1.63 million departures. This year’s balance to July is a record. The previous high was the seven
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Industrial production contracts again in July, as electricity supply drives 1.9 pct drop
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) recorded back-to-back contractions in July, falling... in the first five months of 2023, with June’s print being the first negative reading since December 2022... to the European Commission’s latest business surveys for August, industry confidence stayed positive
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