Greek Daily News – 26/03/23

POLITICS

Prime Minister Ioannis Sarmas will chair the first full-length meeting of the caretaker cabinet at 12:30 on Saturday (May 27) AMNA reported. The short-term government is tasked with preparing the country for a second round of elections on June 25.

ECONOMY

-Salary increases are being requested or expected to be requested by employees at 81% of companies in Greece, in order to recover the purchasing power they lost in previous years according to a new report titled “European Payment Report 2023″ conducted by claims management company Intrum.

-Goods exports rose 17.8% to 13.7 billion euros in Q1 of 2023, and 37% in 2022 y-o-y, an Alpha Bank report shows.

-Public Power Corporation (PPC), the largest Greek power producer and electricity supply company, reported net profit of EUR 51 million for the first quarter of 2023 period versus a loss of €186 million last year.

CAPITAL MARKET

After this week’s sharp drop in borrowing costs, Greek bonds are already trading as though the country has regained investment grade, bank analysts that deal with Greek government debt told Reuters on Friday (May 26). Greece has BB+ ratings from S&P Global and Fitch and Ba3 rating from Moody’s.

REAL ESTATE

The overall value of residences sold this year increased by 4%, the number of transactions went up by 10% year-on-year, the average sale price per property retreated by 12% while the majority of sales during the first quarter of 2023 were off-plan properties, the latest quarterly analysis by Elxis, an expert realtor in the holiday homes market, reveals.