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Economy
Fitch keeps Greece at 'BB' rating as risks remain on horizon As was broadly expected, on Friday night Fitch kept Greece’s credit rating and outlook unchanged, at ‘BB’ and stable.
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Economy
BoG insists on need for bad bank, sees EU funds boosting recovery from 2021 The Bank of Greece tabled its interim monetary policy report for 2020 on Monday, shedding light on how it expects the Greek economy and banking system to develop next year.
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EconomyMacroeconomy
GDP grows by 2.3 pct QoQ in Q3 and drops by 11.7 pct YoY as services exports crash Greece’s seasonally adjusted (SA) GDP showed an increase of 2.3 percent (QoQ) in the third quarter (Q3) of 2020 after a revised decrease of 14.1 percent in Q2 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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Economy
OECD sees heavy hit from pandemic, gradual recovery in 2021 picking up pace in 2022 The OECD has released its latest economic outlook showing that Greece is unlikely to escape a significant economic downturn due to the second wave of the virus.
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EconomyProgramme
Covid-19 leaves Greece facing 200 pct debt-to-GDP ratio in 2021, long road to sustainability The report for the eighth post-programme review published last week included an update of the debt sustainability analysis (DSA) for Greece, the first revision since the one conducted in the context of the fifth review at the start of the year, before the pandemic struck.
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EconomyMacroeconomy
Revised 2021 budget sees bigger contraction, slower recovery and support of 31.4 bln euros With Greece having completed two weeks of general lockdown and as Covid-19 data continued to cause alarm, Finance Minister Christos Staikouras tabled to Parliament on Friday the final 2021 budget, which was substantially revised from the draft document submitted at the start of October.
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EconomyProgramme
Lenders acknowledge reforms, flag up tricky fiscal path ahead Greece managed to clear on Wednesday the fourth post-programme review for this year and the third since the pandemic broke.
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EconomyMacroeconomy
EC forecasts 9 pct dip followed by 5 pct recovery but new lockdown not factored in The European Commission published on Thursday the economic forecasts for Europe within the context of the 2020 autumn forecasts.
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EconomyMacroeconomy
Revised GDP data shows 1.9 pct growth in 2019, taking 2017-2019 upward streak to nearly 5 pct As part of the second estimate for the national accounts and the regular cycle of base year revision that takes place every five years, the Hellenic Statistical Authority revised 2019 GDP data and the annual series base year to 2015, from 2010.
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EconomyMacroeconomy
IMF sees big dip of 9.5 pct for GDP in 2020 before mild recovery of 4.1 pct next year The International Monetary Fund has issued its updated macroeconomic forecasts for Greece within the framework of the World Economic Outlook and the Fiscal Monitor released within as part of the IMF’s Annual Meetings.