The Greek Deal.com
BANK OF GREECE
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%.
Private sector deposits decreased by €607 million in July
Private sector deposits fell by €607 million in July, following an increase of €3.826 billion in the previous month, the Bank of Greece said today.
Foreign direct investment at €2.097 billion in the first half of the year
Foreign direct investment reached €2.097 billion in the first half of 2024, down from €2.434 billion in the corresponding period of 2023 and €5.125 billion in 2022, according to data published on Tuesday by the Bank of Greece.
Balance of payments deficit increased to €8.8 billion in the first half of the year
In June 2024, the current account recorded a surplus of €270.8 million, compared to a deficit in the corresponding month of 2023.
Primary cash surplus of €338 million in the first seven months
In the period January–July 2024, the cash result of the central government showed a surplus of EUR 338 million, compared to a deficit of EUR 2,178 million in the corresponding period of 2023, the Bank of Greece announced.
€5 billion in bond and equity investments brought by the upgrade of the Greek economy
An estimated €5 billion of inflows are estimated to have taken place in Greek government shares and bonds as a result of the credit upgrade of the Greek economy.
Deposit rate unchanged, 5.78% increase in new loans
The weighted average interest rate on all new deposits remained almost unchanged from the previous month, at 0.57%.
Public debt in decline
The two main causes of the consistent and notable decline in public debt as a proportion of GDP have been the Greek economy's recovery and the country's return to primary surpluses following the Covid-19 pandemic (GDP).