The Greek Deal.com
BANK OF GREECE
Cash primary surplus of €8.05 billion in 9 months
In the period January–September 2024, the cash result of the central government showed a surplus of €1,870 million, compared to a deficit of €494 million in the corresponding period of 2023.
Demand for mortgage loans decreased in the third quarter
In Q3 2024, the lending criteria for non-financial corporations (NFCs) remained unchanged compared to Q2 2024, in line with the expectations expressed in the previous quarter's survey as the Bank of Greece announced today.
€19 billion deposits returned between 2021 and 2024
Deposits of around €19 billion have been returned to banks by households and businesses since 2021 to date, recording an increase of 16%, according to data from the Bank of Greece.
An active role for central banks on climate and sustainability issues
Yannis Stournaras, the Governor of the Bank of Greece, made a mention of the role of central banks in addressing climate change and its effects on various economic sectors during the presentation of the updated National Plan for Climate and Energy (NCPEC).
Deposit and loan rates almost unchanged in August
The weighted average interest rates on new deposits and loans remained almost unchanged in August 2024, at 0.54% and 5.84%, respectively, according to Bank of Greece data.
Private sector deposits increased by €1.4 billion
The annual rate of change in total deposits increased to 1.9% from 1.4% in the previous month, according to Bank of Greece data, while private sector deposits in particular increased by €1.4 billion in August 2024, compared with a decline of €607 million in the previous month.
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".
Surplus of €4.954 billion in the primary budget outturn in 8 months
The primary balance of the state budget in the 8 months of January-August 2024 was a surplus of €4.954 billion, compared to €5.576 billion euros in the corresponding period of 2023, according to data announced today by the Bank of Greece.
Inflation easing in the coming months
In its recurring publication "Inflation Monitor," the Bank of Greece forecasts that inflation will slow to 2.5% this year and 2.2% in 2025 before falling below the ECB's 2% threshold in 2027.
Better growth prospects for the Greek economy in 2024-2025
The Bank of Greece forecasts a marginal acceleration of growth in 2024 and 2025 while keeping its quantitative estimates unchanged.
The spread of interest rates on new deposits and new loans increased in July to 5.29%
Data from the Bank of Greece shows that in July 2024, the weighted average interest rate on new deposits stayed at 0.57%, while the interest rate on new loans increased to 5.86%.