The Greek Deal.com
ECONOMY
Hatzidakis
Govt establishes online platform for whistleblowers
Taxpayers who report cases of tax evasion through the “Appodixi” application, can get a bonus of up to 3,000 euros, Finance Minister says.
PPI
Drops for seventh straight month in Sept on lower fuel cost
Producer Price Index (PPI) in industry dropped for a seventh straight month in September, to 4.3% y-o-y
T-bills
Greece to sell 625m euros of 6-month T-bills on Wed
Greece will seek to raise 625 million euros through the offering of 13-week Treasury bills on Wednesday, November 1, the debt office PDMA said.
Constructions
Building activity rises sharply in July; Volumes +20.6% y-o-y
Building activity was robust in July, with the number of building permits rising 7.5% y-o-y which corresponded to 20.6% higher volumes.
ECB
Lagarde praises Greek economy's return to pre-Covid levels
ECB's president said that Greek bonds are now eligible to participate in ECB's repurchase programs, as they have been excluded due to their "junk" status.
Mitsotakis
To request higher EU resources for migration and natural disaster support
The European leaders Summit which will take place Thursday and Friday in Brussels will debate the revision of the Multiannual Financial Framework 2021-2027, developments in Ukraine and Middle East, but also migration issues.
Income
Household disposable income rises 7.6% in 2022; Consumption grows 14.3%
Household disposable income rises 7.6% in 2022 to 135.9 billion euros. However, the savings rate is negative by 4.0%.
Christine Lagarde
ECB's head praises Greek economy's turnaround; Applauds Unicredit deal
Also, Lagarde stated that the offer of Unicredit for acquiring a 9.0% stake in Alpha Bank is a “clear sign of confidence.” Possibly, more deals to come, she said.
Budget
Jan-Sept primary surplus beats target; VAT stronger-than-expected
Greece posts a primary budget surplus of 6.0 billion euros in the first nine months of the year, against the budget target of 2.4 billion euros in surplus. VAT, personal income tax and ENFIA property tax exceed targets
Bank credit
Private sector credit expansion gathers pace in Sept; At 2.1%
Bank credit to Greece’s private sector increased to 2.1% in September from 0.9% in the previous month, central bank data showed. Credit to households was positive by 34 million euros.
T-bills
Greece sells 6-mo T-bills at slightly higher yield
Greece raises 812.5 million euros through the offering of 26-week Treasury bills which yielded 3.92% slightly up from 3.90% in the previous similar sale in September.