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Debt
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EconomyMacroeconomy
Public debt jumps by more than 6 bln in Q1, nearing 395 bln in total Greece’s central government debt increased by more than 6 billion euros in the first quarter of 2022 to 394.55 billion euros, from 388.34 billion euros in the final quarter of last year, the Finance Ministry's (MoF) debt bulletin showed on Thursday.
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EconomyMacroeconomy
Incorporating impact of Ukraine war, EC revises growth forecast down to 3.5 pct In its spring forecasts, published on Monday, the European Commission incorporated the impact of the conflict in Ukraine on the growth outlook for the eurozone, with the Greek growth rate for this year now revised down to 3.5 pct, from the 4.9 pct included in the winter forecast published in February.
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EconomyMacroeconomy
Updated Stability Programme reflects impact of crisis as growth revised to 3.1 pct, rising in 2023 The Greek authorities submitted to Brussels last week the Stability Programme for the 2022-2025 period, in which the impact of the cost-of-living crisis and the fallout from the conflict in Ukraine are reflected.
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Economy
Reopening of 7-year bond affirms tougher conditions on sovereign debt market Amid the uncertain times of the Ukraine conflict and the inflationary pressures globally, but after Greece’s upgrade by S&P last week to one notch from investment grade and the recent prepayment of IMF loans by the government, the PDMA saw a window of opportunity to dip back into the bond market.
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EconomyMacroeconomy
Greece's fiscal path becoming clearer; sizeable adjustment lies ahead After two years of fiscal relaxation across the eurozone thanks to the activation of the escape clause, allowing fiscal rules to be eased so governments could cushion the blow of the pandemic, Greece’s future fiscal path started to take shape over the last few days.
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Economy
BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct In the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher.
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Economy
DBRS moves Greece a notch closer to investment grade as Moody's holds off The Greek authorities anticipated two credit rating upgrades on Friday but had to settle for one as DBRS upped the country’s rating by one notch and just one step away from investment grade. The outlook was also revised from positive to stable.
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EconomyProgramme
Some tasks, risks left as Greece takes another step to exit from post-bailout surveillance Greece has one more step to take before it completes its post-programme surveillance after the institutions published the report that accompanies the latest review, the thirteenth since the summer of 2018 when Greece agreed to a number of commitments that are due to be delivered by this summer.
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EconomyMacroeconomy
Central govt debt rises again in Q4, reaching 388.3 bln euros Greece’s central government debt increased by roughly 2 billion euros in the last quarter of 2021 to 388.34 billion euros, from 386.82 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Friday.
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EconomyMacroeconomy
Final budget data for 2021 affirms revenue overperformance, primary balance below 6 pct of GDP The budget primary balance for the full year landed at a deficit of 10.33 billion euros in 2021, compared to a deficit of 18.2 billion in 2020, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.