Greek daily news

Greek Daily News 04/12/2023

386 views

ECONOMY

-Fitch Ratings upgraded Greece’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’, granting Greek debt the investment grade status on Friday. The Outlook is Stable.

-S&P Global’s Purchasing Managers’ Index (PMI) for Greek manufacturing rose marginally to 50.9 in November from 50.3 in October. A PMI reading over 50 means the sector is growing.

-Freelancers are planning a large protest rally at 1 p.m. on Tuesday (Dec. 5) in front of Parliament in downtown Athens to voice their opposition to legislation aimed at cracking down on tax evasion, Kathimerini reported.

-Labor productivity in employed persons in Greece is approximately 61% of the EU average and 55% of the eurozone average, according to the annual report of the Hellenic Productivity Council.

SHIPPING

Greece has secured its position as a member of the International Maritime Organization (IMO) Council for the 2024-2025 biennium in category A. Category “A” includes countries with the largest interest in providing international shipping services. Greece received 146 of the 166 total votes of the member states.

REAL ESTATE

Greece is the leader among EU countries in housing cost overburden rates (housing costs representing more than 40% of disposable income), this year’s “Housing in Europe” study by Eurostat reveals.