Greek daily news

Greek Daily News 01/05/2024

69 views

ECONOMY

-Overall labor costs (salaries and benefits) are the number one challenge for this year for 48% of businesses in Greece (up from 32% in 2023), a Randstad survey shows.

-A new survey by Eurostat highlighted a major contradiction recorded in the Greek labor market. The country has the second lowest employment rate in the EU and at the same time the Greeks are in second place, among the European partners, with qualifications higher than those required for their employment positions.

-The Stability Programme was submitted to the European Commission. It foresees a primary surplus of 2.1% of GDP in the 2024 and 2025. The Greek economy is expected to increase by 5% in 2024 and 2.6% in 2025 taking into account international developments.

-Morningstar DBRS has assigned National Bank of Greece, a Long-Term Issuer Rating of BBB (low), rendering the Bank the first to regain Investment grade status after nearly 15 years since the onset of the Greek Financial Crisis. The rating ranks NBG pari-passu to the rating of the Greek Sovereign.

GENERAL

The metro in Athens and other public transport means in the Greek capital will limit their service operation on Labor Day, 1. May 2024, due to the traditional strikes and work stoppages.