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Newsletter 207 -24/05/2019
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 expected in November last year. Growth for next year is seen at 2 percent, from 2.1 percent in the previous outlook. The OECD highlights
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Current account deficit drops in April on improved goods and services balance
EconomyMacroeconomyin March according to Bank of Greece (BoG) figures released on Thursday. In the same period last year, the deficit stood at 1.49 billion euros, suggesting a year-on-year (YoY) deficit improvement.... The services balance improved to a surplus of 642.7 million from 570 million a year ago, representing
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Piraeus Bank posts net profit of 20 mln in Q2 from continued operations, NPE sales step up
EconomyBankingeuros, unchanged from Q1. In the same quarter last year, net results reflected a profit of 24 million... stood at 196 million euros. Excluding one-off items, PPI for the same quarter last year remained..., representing a rise of 2 percent year-on-year (YoY). Asset quality NPEs fell by around 800 million euros
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Newsletter 236 -24/01/2020
proposed a phased-out approach over a seven-year period. The banks and the institutions do not seem... of unused surpluses from one year’s budget to the next. If approved, this could secure up to 4 billion... year to implement its tax plans. While cuts to the ENFIA property tax could be self-funding
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Current account deficit more than halves to 2.57 bln in 2019
EconomyMacroeconomy. In the same period last year, the deficit was 1.51 billion euros, improving by 973.9 million year-on-year (YoY). According to the BoG, December’s performance is primarily attributable to improvement... for the balance of goods came to 1.63 billion euros, down by 10.7 percent year-on-year (YoY). The services
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Current account shows deficit of 1.14 bln in February
EconomyMacroeconomyperiod last year, the deficit was 1.02 billion euros, meaning that the deficit has deepened by 122.2 million euros year-on-year (YoY). According to the BoG, February’s performance is primarily... year-on-year (YoY). The services balance fell by 81.9 million YoY to stand at 389.8 million euros
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Current account shows deficit of 1.10 bln in March as Covid-19 hits trade & travel
EconomyMacroeconomyperiod last year, the deficit was 1.54 billion euros, meaning that the deficit has improved by 431.6 million euros year-on-year (YoY). According to the BoG, March’s performance is primarily attributable... to 1.80 billion euros, declining by 15.1 percent year-on-year (YoY). The services balance fell by 207
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OECD forecasts unemployment increase into 2021
EconomyFeaturesthe single hit scenario, Greece’s employment growth is set to fall by 3.5 percent this year and by 1 percent next year. Under a double-hit scenario, which envisions a second wave of coronavirus hitting the country, employment growth is seen as dropping by 3.8 percent this year and by 1.8 percent next
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Newsletter 258 -07/17/2020
with a substantial support package for the tourism sector later this year. In the meantime, the arrivals... of air passengers was down by 93 percent to just 588,186 from nearly 8.4 million last year... of the year, passengers dropped by 75 percent at 6.3 million, compared to 24.7 million recorded during
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Current account shows deficit of 874.5 mln in July as travel receipts disappoint
EconomyMacroeconomyperiod last year, the balance showed a surplus of 1.35 billion euros, meaning that the deficit has worsened by 2.22 billion euros year-on-year (YoY). According to the BoG, July’s performance stems from... to 1.60 billion euros, declining by 20.6 percent year-on-year (YoY). The services balance continued
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