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GDP
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EconomyMacroeconomy
PBO ups growth estimate to 3.6-4.8 pct, warns of complacency and inequality risks Following the positive developments in the first quarter of the year, when the economy only shrank by 2.3 pct on an annual basis, in its latest quarterly report the Parliamentary Budget Office shifted from its previous baseline scenario of annual growth of 2.7 pct, to the positive range of growth of 3.6 to 4.8 pct in 2021.
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EconomyMacroeconomy
GDP rises by 4.4 pct QoQ in Q1 and falls 2.3 pct YoY Greece’s seasonally adjusted (SA) GDP rose by 4.4 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2021 after an upward revised increase of 3.4 percent in the previous quarter, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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EconomyProgramme
Creditors give thumbs up for 10th post-MoU review, underline pandemic legacy The Greek authorities overcame one more hurdle in the post-programme surveillance process as the European Commission released on Wednesday the tenth report since the final programme was completed in the summer of 2018.
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EconomyMacroeconomy
OECD ups 2021 growth estimate by nearly 3 points, underlines RRF impact The OECD released on Monday its latest Economic Outlook, in which it significantly revised its growth estimate for Greece for this year to 3.8 pct, from 0.9 pct in the previous forecast last December.
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EconomyMacroeconomy
EC revises growth estimate upward to 4.1 pct this year, 6 pct in 2022 The European Commission updated its economic estimates for Greece in the context of the 2021 Spring Forecasts, where the estimates are slightly improved from the previous forecasts in February.
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EconomyMacroeconomy
Stability Programme reflects subdued expectations for 2021, high hopes for 2022 onwards Greece has submitted to the European Council and Commission its Stability Programme for the period 2022 -2024, which is based on the activation of the general escape clause that allows temporary violations of fiscal commitments due to the pandemic.
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EconomyMacroeconomy
FinMin sees favourable macro environment from next year, boosted by RRF As part of the wider effort to change the narrative that has often brought the government in an awkward spot during the pandemic handling since last summer, the finance minister presented at the cabinet meeting on Monday the objectives and policies that will restart the Greek economy.
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Economy
S&P upgrades Greece to 'BB' with positive outlook in expectation of post-pandemic upside In an unexpected move late on Friday night, S&P upgraded Greece’s rating by one notch to ‘BB’ from ‘BB-‘, while also revising upward its outlook from stable to positive.
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EconomyMacroeconomy
IMF expects modest recovery, lingering debt but primary surplus to return swiftly Within the context of its Spring meetings, the IMF updated its macroeconomic and fiscal estimates for Greece in the World Economic Outlook and the Fiscal Monitor publications.
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Economy
BoG sees 4.2% recovery in 2021, re-emphasises need for bad bank In the governor’s annual report issued on Tuesday, the Bank of Greece maintains its rather positive stance on the Greek economy, while it highlighted the challenges faced by the country’s banking sector.