Greek Daily News 15/11/2023

ECONOMY

-Greek economic growth is seen at 2.4% this year and 2.2% in 2024 and 2025, the EU Commission’s autumn report showed. Headline inflation for 2023 is forecast to reach 4.3%, decreasing to 2.1% next year.

-Morgan Stanley estimates that in 2025, the Greek debt-to-GDP ratio will drop below 150% while the growth rate will be 2.3% and 2.4% respectively in 2024 and 2025.

-Demand for a 20% stake in Greece’s National Bank (NBG) held by the country’s bank bailout fund was covered by more than six times on Tuesday, in the first day of a book-building process which ends later this week, a source with knowledge of the matter told Reuters.

-Greece holds the first place in the world in peach preserve exports, while it holds the second place in production, Oikonomikos Taxydromos reported citing the Union of Canners of Greece (EKE).

-Greece’s import price index fell by 9.2% in September 2023 year-on-year (YoY), the Hellenic Statistical Authority-ELSTAT data showed.

-Two more multinationals were fined for unfair profiteering since the start of the month: Greece’s Development Ministry imposed a total fine of 1,672,000 to Johnson & Johnson and Colgate.

SHIPPING

Capital Product Partners led by Greek shipowner Evangelos Marinakis, sells off a modern fleet of container vessels operating under charters and spends $3.13 billion to acquire 11 new LNG carriers.

GENERAL

With a work stoppage on Thursday, November 16, and a 24-hour strike on Wednesday, November 22, Athens taxi drivers will be responding to the government’s tax bill affecting self-employed.