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OECD lowers 2022 growth forecast to 2.8 pct as challenges mount
EconomyMacroeconomyThe OECD revised down its growth forecasts for Greece for 2022 amidst surging global inflation, heightened uncertainty, and tighter monetary policy conditions.
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GDP rises by 2.3 pct QoQ in Q1 as consumption grows, but other components shrink
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP increased by 2.3 percent quarter-on-quarter (QoQ) in the first quarter (Q1), from an upwards revised 0.8 percent in Q4, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
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Incorporating impact of Ukraine war, EC revises growth forecast down to 3.5 pct
EconomyMacroeconomyIn 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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Updated Stability Programme reflects impact of crisis as growth revised to 3.1 pct, rising in 2023
EconomyMacroeconomyThe 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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S&P moves Greece closer to investment grade, puts focus on budget and growth
EconomyS&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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IMF trims 1 point off 2022 growth, makes major revision to inflation forecast
EconomyMacroeconomyThe 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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BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
EconomyIn 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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IMF urges caution on public finances
EconomyThe 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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Recovery loses steam in Q4 with 0.4 pct QoQ growth as rise for 2021 hits 8.3 pct
EconomyMacroeconomyGreece’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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Govt weighs up impact of Ukraine war on recovery, waits for decisions at EU level
PoliticsGreek PoliticsAs 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.