Greek Daily News – 12/06/23

ECONOMY

-Greek tourism is heading for a new record for travel receipts this year Kathimerini reported citing data from Greek tourism operators and the Bank of Greece. The challenge for this year is to exceed €18.5 billion.

-The annual consumer inflation rate eased for an eighth straight month to 2.8% in May 2023 from 3% in April, marking the lowest reading since September 2021. The cost rose softer for hotels, cafés & restaurants (7.4% vs 8.5% in the previous period) and household equipment (9.9% vs 10.9%), the Hellenic Statistical Authority said.

-Greece has secured the most funds among European Union member states from the Recovery and Resilience Fund as a percentage of its GDP (EUR 30.5 billion or 16.7% of GDP) and has so far absorbed the most (€11.1 billion or some 6.1% of its GDP) according to the relevant European Commission performance table.

-Credit rating agency Fitch Ratings affirmed on Friday (June 09) Greece’s credit rating at BB+ with a stable outlook. Fitch has also revised its GDP growth forecast to 2.3% in 2023 (from 0.9%).

-Greece’s Independent Authority for Public Revenue (AADE) – is preparing to step up its efforts against tax evasion this summer by enlisting the aid of a new digital tool dubbed “ELEGXOSLive”, in hopes of boosting tax compliance on Greek islands and other tourist areas, AMNA reported.

CAPITAL MARKET

The Athens Exchange (ATHEX) general index closed up 0.14% on Monday to 1,261.67 points, extending its winning streak for a sixth day in a row.

BUSINESS

-DEPA Commercial, the main importer of pipeline gas and Liquefied Natural Gas (LNG) in Greece, is among the winners of an auction for the supply of Moldova-the Eastern European country, wedged between Ukraine and European Union member Romania-with natural gas.

INFRASTRUCTURE

The green light for the construction of a new Central Station for Intercity Buses in the Athens district of Eleonas, which will replace the existing ones on Kifissos Avenue and Liosion Street, was given by the Environment and Energy Ministry.

GENERAL

A total of 76% of Greek drivers talk on the phone while driving and 84% use smartphone apps during their driving, an Ipsos survey for Vinci Autoroutes Foundation quering 12,400 individuals in 11 European countries reveals. In addition, a majority 92% of Greek drivers believe that all other drivers are dangerous, while at the same time 8 in 10 exceed speed limits.