greek economy

A report by the Athens-based Institute for Alternative Policies (ENA) counters the government’s narrative, saying Greece is last in the EU in terms of investments per GDP percentage

The largest decrease was recorded in the agriculture, forestry, and fishing sectors, at 4.4%. Retail trade also showed a decrease of 0.7%

Yannis Stournaras addressed the 'Risk Management & Compliance Conference' as a keynote speaker on Monday

The economy is expected to close this year with growth at around 2.2%, while for 2025, the target is slightly higher at 2.3% as outline in the medium-term fiscal plan.

A major issue of concern is how the Israel-Iran conflict will play out with pundits projecting a surge in oil prices.

In its report, UBS posits that Greece is on course to achieve a 2.5% GDP forecast in 2024, notwithstanding weak Eurozone indicators such as the purchasing managers index (PMI), and Income from operations (IFO).

The report points out that private consumption is expected to benefit from a rise in real disposable income in the wake of a fall in inflation vis-à-vis the rise in nominal wages

Labor market conditions also continued to improve in the first half of this year, as the unemployment rate fell to 9.6% in June, the lowest in 15 years.

The HFSF holds an 18.4% stake in National Bank, Greece’s second-largest bank by market value

According to a major retailer there has been negative inflation in the sector in recent months and that any development must exclusively come from a volume increase.

Public sector debts to private entities have once again increased in Greece, reaching 3.2 billion euros in July 2024

Specifically, from Jan. to Aug. 2024, the central government recorded a cash surplus of 1.368 billion euros, compared to a deficit of 964 million euros in the same period of 2023.

Moody’s is the last of the major credit rating firms not to have upgraded the Greek economy to 'investment grade', retaining the Ba1 rating - a notch below

A series of measures to support low-income families, unemployment benefits in Greece, and pensions, announced by Greek PM Kyriakos during his TIF address last week were detailed on Thursday.

While the Greek economy is indeed recording solid figures, its citizens are becoming impoverished, and the situation could worsen over time, as analysts pointed out in an article in the Financial Times (FT) published a few months ago

At present, Moody’s rates Greece at Ba1, one notch below investment grade, with a stable outlook for reassessment.

In June 2024, the current account balance recorded a surplus of €270.8 million, compared to a deficit in the same month of 2023

The Athens Stock Exchange (ATHEX) was among the global best performers last month, July 2024, mirroring or even exceeding the positive climate in international markets and consecutive record highs posted by the S&P 500 index – all before the Aug. 5 ‘mini crash’ brought back memories of the infamous “Black Monday” of October 1987. The […]

The total value of imports, in June 2024 amounted to 6,610.3 billion euros in comparison with 6,779.6 billion euros in June 2023, recording a drop, in euros, of 2.5%

In 2023, Greeks spent €34.9 billion online, with 94% making monthly e-purchases