The Greek Deal.com
ECONOMY
Inflation
Sept consumer prices decelerate considerably; Food inflation continues
EU-harmonised consumer price index stoo at 2.4% down from the annual rise of 3.5% in August, while the drop in the headline CPI index was more pronounced, at +1.6% from 2.7% in the previous month.
Fitch-Greece
Fitch Ratings sees Greek primary surplus at 1.2%; 2023-25 GDP at 2%
The agency expects Greece to show continued fiscal consolidation in 2023, with the primary fiscal surplus rising to 1.2% of GDP, supported by strong revenue growth and spending constraint.
Trilateral Summit
Mitsotakis: Greece has shielded energy security of all SE Europe
Greece has quadrupled the exports of natural gas to its neighbours in the north since 2022, Mitsotakis said after a trilateral summit in Varna, Bulgaria.
HFSF divestment
DBRS: HFSF divestment from Greek banks should proceed smoothly
The sizeable improvements in banks' credit fundamentals as well as the resilience of Greece's economy, and the regained investor appetite for the country should enable a smooth divestment process.
Trade balance
Trade deficit shrinks further in Aug; Exports drop sharply
Trade balance deficit shrank further in August due to lower fuel prices compared with August 2022. Still, imports were higher than exports in absolute figures.
Prime Minister
Mitsotakis to ask higher EU funds for migration and climate crisis
Prime Minister says that he will strongly raise the issues of migration and climate crisis at the European Council which will take place in Granada, Spain.
Thessaly Floods
NBG sees limited impact in 4Q GDP from floods; 4Q GDP at +1.6% y-o-y
National Bank sees limited impact in the fourth quarter GDP from the catastrophic flood caused by the Daniel Storm, whereas reconstruction projects will boost growth in 2024-25.
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.