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EconomyMacroeconomy
BoG revises growth forecast down to 3.2 pct amid growing uncertainty The uncertain times across the global economy were captured in the latest monetary policy report by the Bank of Greece, which revised down its Greek growth forecast to 3.2 pct for 2022, from the 3.8 pct expected in April.
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Economy
PBO urges continued fiscal discipline amid growing instability In its latest report covering the first quarter of 2022, the Parliamentary Budget Office (PBO) sees mixed signals for the Greek economy and expects international factors to play a key role in developments in the near term.
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EconomyMacroeconomy
OECD lowers 2022 growth forecast to 2.8 pct as challenges mount The 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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EconomyMacroeconomy
GDP rises by 2.3 pct QoQ in Q1 as consumption grows, but other components shrink Greece’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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EconomyMacroeconomy
Incorporating impact of Ukraine war, EC revises growth forecast down to 3.5 pct In 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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EconomyMacroeconomy
Updated Stability Programme reflects impact of crisis as growth revised to 3.1 pct, rising in 2023 The 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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Economy
S&P moves Greece closer to investment grade, puts focus on budget and growth S&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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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 trims 1 point off 2022 growth, makes major revision to inflation forecast The 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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Economy
BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct In 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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Economy
IMF urges caution on public finances The 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.