The Greek Deal.com
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.
Kyriakos Mitsotakis
Government losses from VAT in Greece reduced to 50%
Prime Minister Kyriakos Mitsotakis refers to the profit gained by the state after the implementation of the interconnection of cash registers with POS, myDATA, and electronic transactions.
Eurobank
Implementation of the Recovery and Resilience Plan at a critical crossroads
The Greece 2.0 project has so far progressed at a satisfactory pace. But its future course is expected to be much more challenging, Eurobank says in its weekly analysis, "7 Days Economy.".
Industrial Production
Annual increase of 11.7% in turnover in July
The General Index of Industrial Turnover in July showed an increase of 11.7% compared to the corresponding index for July 2023, the Hellenic Statistical Authority announced today.
Tourism
Revenue of €11 billion in 7 months
Tourism receipts in July were down by 4.2% compared to the same month last year, although arrivals increased by 4.1%. In particular, as the Bank of Greece data show, travel receipts in July stood at €4.031 billion, compared to €4.208 billion in July 2023.
Independent Authority for Public Revenues
€5.3 billion in tax refunds from the beginning of 2024
The total amount of refunds from the Independent Authority for Public Revenues has reached €5.308 billion euros, while the target for the 9-month period was €4.919 billion, exceeding the target by €389 million.
LOGISTICS
Surge of investments in the coming years
A "barrage" of investments are being launched in domestic freight transport and logistics, aiming at the country's emergence as a transit hub of South-Eastern Europe, combined with the strengthening of the competitiveness of the internal market due to the rise of e-commerce and courier services.S
LOANS
Greece has the highest rate of NPL's
According to the results of a recent Octane study on the Greek NPLs market, Greece still has the highest NPL rate in the European Union, at 3.3% compared to an average of 1.9% by Q2 2023.