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Minimum wage increase crashes against reality of Greeks' low purchasing power
Agorato match the level of food prices, which have jumped by 33 pct in the period based on ELSTAT’s sub.... The impaired spending power of Greeks was captured by this week’s Eurostat release of per capita GDP..., suggesting that despite the narrative of strong economic performance thanks to the government’s
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Trump's tariffs create gloomy economic environment for vulnerable Greece
EconomyMacroeconomya quarter of EU total car exports. The EU’s total iron and steel exports in 2024 came to 32.3 billion euros..., Greece’s direct trade with the US might be limited, but it has a major exposure to EU trade... by the same rate. In the new landscape, Greece’s major trading partners in the EU are facing even
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Industrial production records marginal drop of 0.1 pct YoY in Feb due to electricity supply
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) slowed further in February with a 0.1 percent year... to the European Commission’s latest business surveys for March, industry confidence stayed in positive... confidence is up roughly 3 points. In addition, Greece’s Manufacturing PMI saw a solid rise in March
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S&P moves Greece further into investment grade with 'BBB' rating, stable outlook
EconomyThis year’s cycle of rating reviews for Greece have stated strongly as S&P became the latest agency...’, and Moody’s finally granted Greece with the investment grade, raising it to ‘Baa3’ and becoming the last... reduction of the external debt. The downside scenario could materialise if Greece’s fiscal performance
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IMF leaves growth and fiscal estimates for Greece unchanged in latest outlook
EconomyMacroeconomypct of GDP in 2026. The Fund also sees last year’s primary surplus at 2.9 pct of GDP, and at 2.5... are not in line with this week’s announcement by ELSTAT and Eurostat that placed last year’s primary
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Economic sentiment stable in April, consumer confidence drops by another 3 pts
EconomyMacroeconomyGreece’s economic sentiment (ESI) was broadly stable in April at 107.4 points, from 107.7... 12-month period, April’s ESI is down roughly 3 points from May 2024. The average ESI in the EU stood at 94.4 points in April, from 95.8 in the previous month. The euro area’s ESI was 93.6 points, from 95
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Government and opposition poised for new confrontation over Tempe probe
PoliticsGreek Politicsthe judicial investigation into Greece’s worst rail disaster reached the point where ministerial responsibility has to be examined. The case file from the prosecutor’s office in Larissa, central Greece... suggest that economic issues, fuelled by US President Donald Trump’s tariff announcements, are once
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Industrial Production contracts 1.7 pct YoY in Mar as all components drop
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) slowed further in March with a 1.7 percent year-on-year... in mining. According to the European Commission’s latest business surveys for April, industry confidence... May 2024, industry confidence is up 2.5 points. In addition, Greece’s Manufacturing PMI saw a solid
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Alpha reports 223 mln profit in Q1, commission income up 11 pct YoY
EconomyBanking2024. Balance sheet The Group’s net loans amounted to 39.4 billion euros in Q1, from 36.3 billion... at 3.8 percent in Q1. The Group’s NPE coverage stood at 50 percent. Capital The fully loaded Common Equity Tier 1 (CET1) ratio in Q1 stood at 16.3 percent, from 14.6 percent a year ago. The bank’s Total
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Mitsotakis tests PASOK with proposal to end permanence in civil service
PoliticsGreek PoliticsArticle 103. Reacting to Mitsotakis’s comments, PASOK leader Nikos Androulakis pointed out.... The way the constitutional review process works is that if ND’s proposal only receives simple... crucial issue by 30 pct of respondents, followed by the economy (26 pct) and the crisis in Greece’s
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