The Greek Deal.com
ECONOMY
EUROSTAT
Greece in the trio of EU and Eurozone countries with the largest debt ratio reduction
Greece is among the trio of eurozone and EU member states with the largest reduction in the debt-to-GDP ratio in the second quarter of 2024, both in relation to the first quarter of the year and on an annual basis according to Eurostat.
ELSTAT
Primary surplus at 2,1% of GDP
At 2.1% of GDP, or €4.658 billion the primary surplus for 2023 was finally reached, higher than the 1.9% initially estimated and much higher than the 1.1% of GDP projected in the 2024 budget.
REAL ESTATE
Trends discussed at the Executive Leaders' Breakfast of the 25th Prodexpo
Senior market participants examined the real estate market trends at the Executive Leaders' Breakfast, which came before the start of the 25th Prodexpo conference, highlighting both opportunities and risks.
Greek Banks
Morgan Stanley maintains its constructive stance
Morgan Stanley maintains its constructive stance on Greek banks, following meetings between the firm's analysts and bank management, government officials and industry players.
DESFA
Cooperation agreements with the Egyptian companies EGAS and GASCO
DESFA signed cooperation agreements with the most important Egyptian gas companies, EGAS and GASCO, on the sidelines of the Mediterranean Offshore Conference (MoC) in Alexandria (October 20-22).
Ministry of Development and Investment
The three pillars for the new production model - Over €3 billion for industry and major investments
Takis Theodorikakos, the minister of development, outlined the three pillars of the government's industrial strategy in his speech at an event with the theme "Productive transformation, strengthening investment and industry, for growth and new jobs throughout Greece."
Kyriakos Mitsotakis
The recovery path of the Greek economy is definitive and irreversible
Prime Minister Kyriakos Mitsotakis unfolded his own broader remarks on the new productive model of Greece, presented by Development Minister Takis Theodorikakos, stressing that the course of recovery of the Greek economy is now "definitive and irreversible,".
Kostis Hatzidakis
Holding company for the development of up to 1,000 public properties
Mr. Kostis Hatzidakis, the Minister of Economy and Finance, announced the creation of holding companies for the quicker development of up to 1000 public properties.
BALANCE OF PAYMENTS
Tourism receipts fell in August as well
Tourism receipts in August were down by 1.8% compared to the same month last year, although arrivals increased by 6.6%, continuing the trend observed in July.
GREEK ECONOMY
Waiting on Fitch and Scope after S&P
The US rating agency Standard & Poor's has not spoken on Greece's rating, with the country's credit rating remaining at BBB- (the lowest investment grade level), with a positive outlook.
Hellenic Republic Asset Development Fund
2024 one of the best years since its establishment
The executives describe 2024 as a "milestone year" for the Hellenic Republic Asset Development Fund, as the best performance in its history is recorded with revenues of more than €4 billion.