Greek daily news

Greek Daily News 11/10/2023

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ECONOMY

-Foreigners invested €1.1 billion in Greek properties in January-June 2023 up 39.5% compared to the same period in 2022 when foreign investments stood at €788 million, National Bank of Greece (NBG) data showed.

-For 2024 and 2025, the International Monetary Fund’s (IMF) Fiscal Monitor report predicts that the Greek primary surplus will reach 2% of GDP.

-Greece’s economic activity recorded a recovery stronger than the average in Europe, however, its course is threatened by the “clouds” of slowdown in the international and European economy, according to the Attica Bank report entitled “Sustainable rate of recovery under the shadow of deterioration in the international environment”, prepared in collaboration with the Foundation for Economic and Industrial Research (IOBE).

-Greek industrial output dropped 0.5% in August y-o-y, after a 1.9% fall in July, data from statistics service ELSTAT showed.

COMPANIES

-Despite the challenging international environment, Greek businesses are expected to maintain their high growth rates in 2024, with construction and IT playing a leading role in terms of dynamics, according to a survey by the Directorate of Economic Analysis of the National Bank of Greece (NBG).

-Athens Mass Transit-OASA’s increase in ticket revenue for 2022 was 13.8% compared to 2019, Oikonomikos Taxydromos reported.

SHIPPING

Greek shipowners have ordered a total of 71 bulk carriers so far in 2023, according to data gathered by Naftemporiki from shipping brokerage sources and international data platforms.