ECONOMY -Standard & Poor’s on Friday (Oct. 18) maintained Greece’s BBB- rating (investment grade) and positive outlook without releasing an updated report. It is the only major rating agency that currently assigns Greece a positive outlook. -Greece is last in the EU in terms of investments per GDP percentage (14%), according to a report by…
MoreGreek News 18/10/2024
ECONOMY -Greece ranks last in the economic freedom chart among the European Union member-states, a study published by the Center for Liberal Studies (KEFiM) in collaboration with the Canadian Fraser Institute, reveals. -The euro area annual inflation rate was 1.7% in September 2024, while in Greece was 3.1%, Eurostat data showed on Friday. -The Greek…
MoreGreek News 23/09/2024
ECONOMY -Greek authorities conducted 9.059 labor inspections on hospitality companies between May and August 2024, issuing 8.11 million euros in fines, Kathimerini reported. -The Overall Turnover Index in Industry (both Domestic and Non-Domestic Market) in July 2024 recorded an increase of 11.7% compared with the corresponding index of July 2023, the Hellenic Statistical Authority (ELSTAT)…
MoreGreek News 16/09/2024
ECONOMY -Moody’s raised Greece’s credit rating outlook to “Positive” from “Stable” but did not lift the country out of junk status and into investment grade. -JP Morgan reaffirmed its “neutral” recommendation on Greek stocks and noted that upward factors are running low, while the valuation of Greek banks has all but closed the European average…
MoreGreek News 09/09/2024
ECONOMY -In Q2 2024 the Gross Domestic Product (GDP) in volume terms increased by 1.1% in comparison with the Q1 2024, while in comparison with Q2 2023 it increased by 2.3%, ELSTAT said. -The Bank of Greece expects GDP growth of 2.2% in 2024, rising to 2.5% in 2025 and 2.3% in 2026. Greece’s central…
MoreGreek News 03/09/2024
ECONOMY -The Greek government is planning to increase Greece’s minimum wage for both public sector and private sector employees between 4.5%-5% as 7 out of 10 private sector employees are low wage earners and can’t make ends meet, Ta Nea reported. -S&P Global’s seasonally adjusted Purchasing Managers’ Index (PMI) for the Greek manufacturing sector stood…
MoreGreek Daily News 27/08/2024
ECONOMY -The price increase on 850 pharmaceutical drugs in circulation at Greece’s pharmacies comes into effect today, TA NEA newspaper reported. The hike ranges from 1 to 5 euros. -Greece is 16th among European Union member states in terms of household net disposable income, according to the National Economy & Finance Ministry. -Hotel owners object…
MoreGreek Daily News 23/08/2024
ECONOMY -The Overall Material Costs Index in the Construction (CSTM) of New Residential Buildings in July 2024 recorded an increase of 5.4% in comparison with July 2023, the Hellenic Statistical Authority (ELSTAT) data showed. -For the total of enterprises in retail trade, the turnover in the second quarter of 2024 amounted to 18.11 billion euro,…
MoreGreek Daily News 22/08/2024
ECONOMY -Norway’s sovereign wealth fund, with a portfolio value of 1.7 trillion dollars, has holdings in 36 listed companies on the Athens Stock Exchange. -An auction of 26-week T- Bills was held on Wednesday, amounting to 500 million euros, the Public Debt Management Agency announced. The yield stood at 3.09 percent. Total bids of 985…
MoreGreek Daily News 21/08/2024
ECONOMY -The euro area annual inflation rate was 2.6% in July 2024, up from 2.5% in June, Eurostat said. Inflation in Greece stood at 3% last month, settling above the euro area average. The lowest annual rates were registered in Finland (0.5%), Latvia (0.8%) and Denmark (1.0%). The highest annual rates were recorded in Romania…
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