ECONOMY

Moody's

The divestment of HFSF’s shares in Greek banks will be credit positive

Still, Moody’s has a word of caution: the sale of the HFSF shares to National Bank and Piraeus Bank could be more difficult than the Eurobank transaction.

12/10/23 • 11:55

Fiscal Monitor

IMF sees growing primary surpluses in Greece ; Debt to fall to 160.2% of GDP in '24

The general government balance is projected to show a primary surplus of 0.1% of GDP in 2022, 1.0% of GDP in 2023 and 2% of GDP in 2024-2025, and then to average 2.2% in subsequent years up until 2028.

11/10/23 • 14:48

IMF

Theocharis to lead Greek delegation at annual IMF meeting

Accompanying him on this mission will be Dimitris Tsakonas, General Director of the Public Debt Management Agency, and Michalis Masourakis, Greece’s representative to the IMF.

11/10/23 • 12:34

Car salers

New car registrations rise 21.6% in Sept; New cars sales +32% y-o-y

Statistics office ELSTAT said that 19.008 road motor cars-both new and used from abroad- were put into circulation for the first time in September, while new car sales reached 9,338.

11/10/23 • 12:29

Greek economy

IMF sees Greece's economy expanding 2.5% in '23, 2% in '24

The International Monetary Fund estimates that Greece’s economy will run 2.5% this year and 2% next, revising its previous projections of 2.6% and 1.5% respectively.

10/10/23 • 17:13

Industry

Industrial output remains in contraction for third straight month in Aug

Industrial output remains in contraction for a third consecutive month in August, recording an annual drop of 0.5%, largely due to lower electricity supply.

10/10/23 • 12:30

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.

10/10/23 • 12:25

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.

10/10/23 • 08:24

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.

10/10/23 • 08:13

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.

06/10/23 • 14:05

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.

06/10/23 • 12:51

In Brief