MacroPolis

GDP records first quarterly drop in Q3 since pandemic, 9M GDP up by 5.9 pct YoY

Greece’s seasonally adjusted (SA) GDP dropped by 0.5 percent quarter-on-quarter (QoQ) in the third quarter (Q3), from a downwards revised 0.6 percent in Q2, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.

Record FDI flow into Greece raises bar, but is it sustainable?

By: Georgia Nakou

Greece has reported record flows of inward investment in 2021 and looks set to exceed the amount again in 2022.

Budget sees Greece outdoing peers with 1.8 pct growth, 0.7 pct primary surplus in 2023

The Finance Ministry tabled in Parliament on Monday the final budget for 2023, which - despite the global challenges - sees Greece outperforming EU peers and avoiding a recession, while also delivering a primary surplus.

EC cuts 2023 growth forecast by more than half to 1 pct

In the European Commission’s autumn economic forecasts just released, Brussels confirmed a solid year of growth for Greece in 2022 and a significant downward revision of next year’s estimate.

Despite downward revision, IMF sees Greece growing by 1.8 pct in 2023

Amidst gloomy global economic prospects, which led to significant growth revisions in the World Economic Outlook that was published yesterday as part of the annual meetings of the IMF and World Bank, the Fund offered a small glimpse of hope to the Greek authorities for the challenging year ahead.

Draft 2023 budget sees growth cooling to 2.1 pct, primary surplus at 0.7 pct

The Finance Ministry tabled in Parliament on Monday the draft budget for 2023, in which Greece is seen growing by 2.1 pct in 2023 and securing a primary surplus of 0.7 pct of GDP, marginally below the stated commitments.

PBO sees medium-term risks mounting, despite positive near-term outlook

The Parliament Budget Office (PBO) released on Thursday its latest report, for the second quarter of the year, and notes the relative positive picture in the near-term, despite the uncertain times due to the energy crisis. However, it notes a series of challenges and risks in the medium-term.

Quarterly GDP growth slows to 1.2 pct in Q2 as investments shrink and imports rise

Greece’s seasonally adjusted (SA) GDP increased by 1.2 percent quarter-on-quarter (QoQ) in the second quarter (Q2), from an upwards revised 2.9 percent in Q1, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.

Impact of uncertainty on economy starting to emerge in hard data

The uncertainty of the Ukraine conflict, which is being felt primarily through the energy crisis and the swelling inflation wave, has been reflected for months in sentiment surveys and is now gradually filtering through in hard data, sending the first recessionary signals.

Fitch leaves rating and outlook unchanged, underlines fiscal performance key to higher grade

Fitch affirmed on Friday Greece’s ‘BB’ credit rating and kept the outlook positive, remaining one notch behind S&P and two notches from investment grade.