The Greek Deal.com
ECONOMY
Ministry of Finance
The hidden aces of budgetary policy
Measures to curb tax evasion are filling up the state coffers and creating new data on fiscal policy and the targets set for primary surpluses and debt in the coming years.
Tourism
Greece achieved an increase in air arrivals and revenue in the eight months
Air arrivals in Greece in the period January-August 2024 increased, as 18.9 million international air arrivals were recorded, exceeding the levels of January-August 2023 (17.5 million), showing an increase of 8.0% or 1.4 million arrivals compared to last year.
Yannis Stournaras
Risks to financial stability are increasing
The Governor of the Bank of Greece, Yannis Stournaras, warned of challenges to the EU banking system in his speech at the "NPL Meeting 2024 - Step Forward" conference of Banca Ifis held in Lake Como.
ELSTAT
How much Greeks spent on food and housing
Greek households spent approximately €1,625 per month or €20,223 annually in 2023, which is 5.3% more money than in 2022 (1,600 euros), reflecting the impact of price pressure on Greek households' budgets.
GREAT SEA INTERCONNECTOR
The amendment for the electricity interconnection between Greece and Cyprus was approved
The Greek State will be responsible for 13% of any potential delays or cancellations of the Cyprus-Crete electricity interconnection project that result from external factors beyond the control, responsibility, and fault of the implementing entity and/or its contracted suppliers and contractors (geopolitical risk).
Eurobank
Greek economy in expansion phase - Exogenous risks intensify
The Greek economy, after the negative disruption of the pandemic, which in national accounts terms was mainly reflected in the 2020 data (real GDP fell by 9.3% annually), is in an expansion phase, according to Eurobank's 7 Days Economy.
Nikos Papathanasis
Greece second in the world in the best tender procedures through PPPs
Greece has been ranked 2nd in the world in the field of best tendering procedures for public-private partnership (PPP) projects according to the World Bank's "Benchmarking Infrastructure Development 2024" report, announced the Deputy Minister of Economy and Finance, Nikos Papathanasis.
ELSTAT
€415.5 billion in business turnover in 2022 - Annual growth of 29.3%
In 2022, the total turnover of enterprises operating in the country in the sectors of industry, construction, trade and services amounted to €415.5 billion, while the production value and gross value added amounted to €271 and €90.9 billion, respectively, based on ELSTAT data.
Bank of Greece
Private sector deposits increased by €1.4 billion
The annual rate of change in total deposits increased to 1.9% from 1.4% in the previous month, according to Bank of Greece data, while private sector deposits in particular increased by €1.4 billion in August 2024, compared with a decline of €607 million in the previous month.
PAPER INDUSTRY
Turnover at €2.13 billion euros in 2023
The economic footprint of the paper industry as well as the prospects and the main challenges for its further development are highlighted in the study presented by the Foundation for Economic & Industrial Research (IOBE) for the Association of Paper Industries of Greece.
Ministry of Finance
€7.6 billion surplus in the eight months of 2024
The state budget showed a strong overperformance of tax revenues, which were up by €1.899 billion or 4.6% against the target, in January-August