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EconomyMacroeconomy
BoG sees sustained growth, argues challenges require wide-ranging policy interventions The Bank of Greece (BoG) published on Wednesday its latest monetary policy report in which the central bank highlights the sustained growth of the Greek economy, outlines the challenges and makes a wide range of policy recommendations.
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Economy
Greece out of fiscal spotlight, but economic imbalances still a worry The European Commission announced last week that it started an excessive deficit procedure for France and Italy, but Greece is not in the spotlight over its public finances, although Brussels has again highlighted various imbalances in its economy.
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EconomyMacroeconomy
Q1 GDP growth accelerates to 0.7 pct QoQ Greece’s seasonally adjusted (SA) GDP accelerated its gains in Q1, rising by 0.7 percent quarter-on-quarter (QoQ), from a 0.3 percent rise in Q4, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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EconomyMacroeconomy
Fitch leaves rating unchanged at 'BBB-', outlook stable Fitch on Friday reaffirmed Greece’s credit rating to ‘BBB-‘ with stable outlook. It is another indication that the country’s rating has entered a steady environment after the several upgrades over the last couple of years that brought it to investment grade.
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EconomyMacroeconomy
EC makes minor adjustment to growth forecast, at 2.2 pct for 2024 The European Commission published on Wednesday the spring forecasts and the growth outlook for Greece, which remained broadly unchanged with growth seen at 2.2 pct in 2024 and 2.3 pct next year.
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EconomyMacroeconomy
OECD sees growth stable at 2 pct this year, urges reforms and fiscal discipline In its latest economic outlook, the OECD is slightly more optimistic about Greece’s growth prospects, although it warns that there is no room for complacency as the economy’s structural challenges need to be addressed and the public spending the economy requires will lose the boost it had received from the RRF when the scheme concludes in 2026.
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EconomyMacroeconomy Stability Programme revises growth down to 2.5 pct as investment estimates prove too rosy Greece submitted on Tuesday to the European Commission the 2024 Stability Programme, making it the first official document in which the Greek authorities have revised down their initial growth outlook for the year.
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Economy
S&P ups outlook to positive, leaves rating at 'BBB-' S&P published the latest credit rating review for Greece, where the rating was left unchanged at ‘BBB-‘, while the outlook was upgraded from stable to positive. S&P had granted the investment grade to GGBs in October last year, followed by Fitch in December.
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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 sees 2024 growth at 2 pct, debt on downward trend due to high primary surpluses During the Spring meetings held by the International Monetary Fund and the World Bank in Washington this week, the IMF presented its latest global estimates as part of the World Economic Outlook and the Fiscal Monitor.
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EconomyMacroeconomy BoG sees 2024 growth at 2.3 pct, cautions against complacency due to risks Ahead of the general meeting of its shareholders, the Bank of Greece released on Monday the annual governor’s report for 2023 in which it sees progress on several fronts, notably securing the investment grade for GGBs.