Greek Daily News 04/03/2024

ECONOMY

-The growth rate of the Greek economy is expected to come to 2.5% in 2024 and 2025, before dropping down to 2.3% in 2026, the Bank of Greece predicts in a report titled “Note on the Greek economy.” Meanwhile, the Center of Planning and Economic Research (KEPE) sees economy growing by 2.2% in 2024.

-Greece’s adjusted unemployment rate was at 10.4% in January 2024, the same as in the previous month according to the official data released by ELSTAT. A year ago, the unemployment rate was higher at 11.3%.

-The Public Debt Management Agency (PDMA) will auction 52-week treasury bills on Wednesday, to the amount of 625 million euros in book entry form.

-Piraeus Bank placement kicks-off today with the Hellenic Financial Stability Fund (HFSF) placing its 27% stake in the bank, which is expected to draw whopping 8-10 billion in offers, Oikonomikos Taxydromos reported.

-Τhe cosmetics sector in Greece is expected to grow by 4%-7% in 2024, according to the Hellenic Cosmetic, Toiletry & Perfumery Association (PSVAK). In 2023, cosmetics prices recorded an average increase of 6%-7%.

TOURISM

Greek hotels recorded a historic high in demand expectations in the first two months of 2024 – a unique development in the Mediterranean market, according to the new issue of the “Business Trends” report by the Directorate of Economic Analysis of the National Bank of Greece.

GENERAL

Athens is 31st on the Global Traffic Index. TomTom’s newest Traffic Index has analyzed 387 cities across 55 countries. The index evaluates traffic congestion, daily average travel times, and peak-hour driver speeds, among other factors.

-Consumer groups from eight countries in the European BEUC network, including from Greece, on Thursday filed complaints against Meta with their national data protection authorities, alleging Meta has failed to adhere to GDPR principles on the processing of personal data, AMNA reported.