Search
-
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...
10% -
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...
10% -
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...
10% -
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...
10% -
BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead
EconomyThe Bank of Greece issued on Monday the Monetary Policy Report for 2020-2021, which was submitted to the Parliamentary Speaker and the Cabinet. The BoG is optimistic about the prospects of the Greek economy in the short to medium-term, however it does h...
10% -
BoG sees banks on right path, warns impact of pandemic not visible yet
EconomyBankingThe progress made by Greece’s banks to clean up their balance sheets was reflected in the latest financial stability report published by the Bank of Greece (BoG) on Thursday. BoG also highlights the various challenges that credit institutions will need ...
10% -
PBO outlines positives from 2021, warns about uncertainty in 2022
EconomyThe Parliamentary Budget Office (PBO) published its last report for 2021, in which it outlines the favourable macro and fiscal conditions evident during the first nine months of the year. However, it points out that a series of challenges started to app...
10% -
ND warns of fiscal risk from SYRIZA pledges as Tsipras takes heart from Cyprus polls
PoliticsGreek PoliticsNew Democracy has been picking apart SYRIZA’s economic programme, accusing the left-wing opposition of making promises it can’t deliver and risking fiscal derailment in the process. According to figures put out by sources close to PM Kyriakos Mitsotakis...
10% -
BoG sees 2.2 pct growth in 2023 but warns new govt must stick to reforms
EconomyIn the Bank of Greece governor’s annual report for 2022, Yannis Stournaras outlined the progress that the economy made in 2022, although the year was marked by increased global uncertainty and the challenges posed by the conflict in Ukraine and price pr...
10% -
OECD ups growth outlook for 2023, warns about headwinds affecting demand and consumption
EconomyMacroeconomyThe OECD has become the latest international organisation to incorporate the more positive outlook for the Greek economy into its projections, revising upwards its growth forecast for 2023, to 1.6 pct, from 1.1 pct in the January estimate. Next year’s e...
10%