The Greek Deal.com
ECONOMY
EU
Commissioner for Agriculture visits flood-stricken ares
European Commissioner for Agriculture Janusz Wojciechowski, accompanied by Rural Development and Food Minister Lefteris Avgenakis, will visit flooded farmlands in the region of Karditsa on Thursday.
OECD
The responsiveness of the justice system is a challenge for Greece
Greece has to “improve the legal system’s effectiveness by simplifying administrative processes and communicating benefits of alternative dispute resolution mechanisms.”
Interest rates
New loans' interest rate rises 12bps m-o-m in Aug; Deposits/Loans spread widens
Greek average interest rate on new loans rises 12 basis points m-o-m in August to 6.33% while the interest rate on new deposits increases to 0.39%.
T-bills
Greece sells 812.5m euros of 3-month T-bills at a rising yield
Greece raises 812.5 million euros through the offering of 13-week Treasury-bills which yielded 3.90% higher from 3.72% in the previous similar sale in August.
Tax evasion
Tacking tax evasion could add 2b euros to government coffers annually
Calculations based on the VAT gap as measured by the European Commission show that Greece loses 2b euros from tax evasion every year.
ECONOMY
Bank credit to Greek private sector contracts further in Aug
Bank credit to Greece’s private sector contracted to 0.9% in August from 1.2% in the previous month.
Greek household savings drive bank deposits higher in Aug
Private sector bank deposits rise in Aug due to household savings
Private sector bank deposits recover in August, due to household savings. They stood at 189.35 billion euros, as of end Aug.
Greece sells 812.5m euros of 6-mo T-bills
Greece rolls over 6-mo T-bills; Yield rises to 3.90%
Greece's 26-week T-bill auction yielded at 3.90% higher 3.83% in August sale. Individuals can participate in the auction with a maximum amount of 15,000 euros each.
ELIAS STORM
Agriculture Commissioner's visit to Thessaly rescheduled for Thu
EU Commissioner for Agriculture rescheduled his visit to Thessaly for Thursday, instead of Wednesday due to Elias Storm.
ECONOMY
Greek retail business post 12.3% y-o-y rise in July turnover
Greece’s retail businesses posted a 12.3% annual rise in their July turnover, to 3.94 billion euros, available monthly data from statistics office ELSTAT showed. On a monthly basis, retail turnover rose 5.5%.
None
Greece’s Jan-Aug primary surplus beats target, on solid tax collection, lower spending
Greece posted a primary budget surplus of 5.6 billion euros in the first eight of the year, against the budget target of 2.3 billion euros in surplus, according to final data released by the Finance Ministry. In the same period of 2022, the budget’s primary position was positive by 12 million euros.