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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
S&P moves Greece closer to investment grade, puts focus on budget and growth S&P on Friday night upgraded Greece’s credit rating by one notch to ‘BB+’, while the outlook was revised from positive to stable. Greece is now just one notch away from securing an investment grade with S&P.
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EconomyMacroeconomy![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF trims 1 point off 2022 growth, makes major revision to inflation forecast The International Monetary Fund (IMF) released its latest global macro and fiscal estimates in the context of the spring meetings currently held in Washington, capturing the impact of inflation on growth.
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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
IMF urges caution on public finances The IMF concluded last week its latest Article IV consultation for Greece with the mission drawing attention to the fiscal policy commitments Greek authorities face from this year, while noting progress in some areas.
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EconomyMacroeconomy
Recovery loses steam in Q4 with 0.4 pct QoQ growth as rise for 2021 hits 8.3 pct Greece’s seasonally adjusted (SA) GDP increased by just 0.4 percent quarter-on-quarter (QoQ) in the last quarter (Q4) of 2021, from a downwards revised 2 percent in the third quarter (Q3), provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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PoliticsGreek Politics
Govt weighs up impact of Ukraine war on recovery, waits for decisions at EU level As well as making a landmark foreign policy move over the weekend by deciding to supply Ukraine with arms following the Russian invasion, the Greek government has been mulling the economic impact of the war.
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Economy
PBO outlines positives from 2021, warns about uncertainty in 2022 The 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.
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EconomyMacroeconomy
GDP up by 2.7 pct QoQ in Q3, taking growth for first nine months to almost 9 pct Greece’s seasonally adjusted (SA) GDP increased by 2.7 pct quarter-on-quarter in the third quarter of the year (Q3), from a downwards revised 2.1 pct in the second quarter (Q2) provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Monday.