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EconomyMacroeconomy
EC doubles 2023 growth forecast to 2.4 pct, affirms 2.5 pct of GDP primary surplus next year The European Commission upped its outlook on Greece for this year in its latest forecast published on Monday. It now expects the Greek economy to grow by 2.4 pct in 2023, from 1.2 seen in the previous estimate in February.
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EconomyMacroeconomy
BoG stresses need to avoid putting investment grade at risk In its latest financial stability report published on Thursday, the Bank of Greece highlights the progress achieved in domestic banking and notes the challenges that lie ahead for the sector and the Greek economy.
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EconomyMacroeconomy Stability Programme sees improved growth, primary surplus above 2 pct from 2024 Greece submitted to the European Council and the European Commission the latest Stability Programme of 2023, covering the 2024-2026 period, in line with the Council regulations.
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EconomyMacroeconomy
Latest 2022 fiscal data a boost as profit transfers and growth lead to small surplus The Greek authorities were handed a welcome boost on Friday as ELSTAT announced the latest fiscal data for 2022, in the context of the first Excessive Deficit Procedure (EDP) notification of 2023, where a small primary surplus was recorded.
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EconomyMacroeconomy
Latest IMF estimates see growth of 2.3 pct, return of permanent primary surpluses The IMF spring meetings produced some good news for Greece via the World Economic Outlook and Fiscal Monitor.
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Economy
BoG sees 2.2 pct growth in 2023 but warns new govt must stick to reforms In 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 pressures stemming mainly from the energy sector.
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EconomyMacroeconomy
Q4 GDP grew by 1.4 QoQ, 2022 GDP rose 5.9 pct Greece’s seasonally adjusted (SA) GDP increased by 1.4 percent quarter-on-quarter (QoQ) at the close of 2022, from a rise of 0.4 percent in Q3, after the previous drop by 0.5 percent was revised upwards, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
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EconomyMacroeconomy
EC tweaks forecasts, sees 2023 growth at 1.2 pct The European Commission updated its estimates in the latest winter forecasts, essentially retaining the view it held in the autumn, seeing modest growth of 1.2 percent in 2023, after a rise of 5.5 percent in 2022.
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Economy
Greece moves step closer to investment grade as Fitch ups rating by one notch to 'BB+' Fitch became on Friday the latest rating agency to place Greece one step away from investment grade, after upgrading its sovereign credit rating to ‘BB+’ from ‘BB’. The outlook is stable.
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EconomyMacroeconomy
OECD sees recovery slowing, urges fiscal discipline OECD secretary-general Mathias Cormann visited Greece on Tuesday for a meeting with Prime Minister Kyriakos Mitsotakis as the think-tank published its latest economic report about the Greek economy.