Greek Daily News 29/11/2023

ECONOMY

-The European Commission endorsed a positive preliminary assessment of Greece’s third payment request of 3.64 billion euros (1.69 bln in grants and 1.95 bln in loans), under the Recovery & Resilience Facility (RRF), AMNA reported.

-Private building activity increased by 17.4% in volume in August 2023 and by 16.5% in the January-August period, the Hellenic Statistical Authority data showed.

-Member of the European Central Bank (ECB) Governing Council and Bank of Greece Governor Yannis Stournaras told Politico in an interview published on Wednesday that the Frankfurt-based institution is unlikely to cut interest rates before the middle of 2024. Furthermore, the official said that the Bank of Greece estimated that the country’s economy will see an annual growth of 2.4% in 2023 and 2.5% in 2024.

-Greece will next month repay ahead of schedule 5.3 billion euros of loans owed to eurozone countries under its first bailout, and hopes to repeat the move in 2024, Finance Ministry officials told Reuters on Tuesday.