The Greek Deal.com
ECONOMY
RETAIL
6.6% increase in turnover in July
Turnover in the country's retail trade businesses, which are required to keep double-entry books and for which data are available on a monthly basis, increased by 6.6% in July this year and amounted to €4.25 billion compared to €3.99 billion in July 2023.
Tourism
Overnight stays up 2.3% and 2.9% in July
A slight increase was recorded in arrivals and overnight stays according to the provisional monthly data on the traffic of hotel, camping and collective accommodation of short stay (rooms to let) for the reference month of July 2024.
National Bank of Greece
10% in the placement - The State retains 5% - 8%
BNB Daily reports that JP Morgan showed increased interest in the sale of the National Bank of Greece shares from HFSF yesterday.
Hellenic Republic Asset Development Fund
Attiki Odos is handed over to GEK Terna on 6 October
On Sunday, October 6, 2024, the Greek State will hand over the Attiki Odos motorway to the new concessionaire (New Attiki Odos S.A.), as announced today by the Ministries of Economy and Finance and Infrastructure and Transport.
Greek Banks
Red loans in Greece at 4.10% from 5.7% a year ago
Greek banks have once again emerged as "champions" in the Eurozone in terms of interest rate spreads and red loans, as the latest data released today by the European Central Bank show.
Tourism
4.2% drop in travel receipts in July - Large decrease from Germany and France
The latest data from the Bank of Greece shed light on the causes of the sudden drop in tourism revenues in July, confirming that the crisis of price sensitivity is forcing European and American travellers to cut back on their spending.
Bank of Greece
Growth of 2.3% in the second quarter, further slowing of inflation to 3%
The Greek economy continued to grow at a satisfactory pace in the second quarter of 2024, with a slightly stronger pace compared to the first quarter, the Bank of Greece said in its "Note on the Greek economy".
European Commission
Green light for the funding of the FSRU Alexandroupolis
The European Commission approved the financial contribution to the Independent Natural Gas System (ASFA) of Alexandroupolis. The total eligible cost through NSRF for the completion of the project is set at €202,2 million.
Exports
Ouzo plays a leading role in the exports of Greek alcoholic beverages
Ouzo will continue to lead Greek exports of alcoholic beverages until 2024, with Germany absorbing at least 43% of exports.
GREAT SEA INTERCONNECTOR
Green light for the high stakes project
An end to the ongoing thriller for the implementation of the major project of the electrical interconnection between Greece and Cyprus was put to an end with the signing of the Athens-Lekosia interstate agreement that closes the open issues.
MOODY'S
Remarks on the Greek economy and the banks
Moody's provides a detailed documentation of its position on Greek banks and the economy, analysing the strengths and vulnerabilities that will determine the next ratings.