Finance

Greece ranks 4th in EU for labor market slack, mostly due to high unemployment levels, and has widest gender gap in the EU.

The profile of the returnees to Greece reveals that 67.6% have families, and 52% have children.

All indices rise in third quarter of 2024 compared to corresponding period of 2023

The data is expected as the country's tourist season ended, resulting in an upswing in the number of employees departing as thousands of seasonal workers are left out of the job market

“We want to further reduce taxes, not because we want to be agreeable, but because we can,” said the minister.

Among young people aged 15-24, unemployment fell notably to 16.3% from 23.1% in Sept. 2023. For those aged 25-74, the rate declined to 9% from 10%.

The Greek Premier stated the new system would prohibit any reduction of the minimum wage by law.

In Europe’s common monetary bloc, the Eurozone, the consumer price index settled at 2% from 1.7% the previous month

For the first time, the adjustment system will include employees from the public sector, leading to a corresponding increase in their minimum wage

The bond loan agreement was signed last week with local Alpha Bank; AIA also reports higher passenger traffic, profits

Meanwhile, Greece has announced an early repayment of the Greek Loan Facility, aiming to reduce public debt by the end of the year.

Fitch is expected to release its evaluation of the Greek economy on Nov. 22, with a possible scenario being an upgrade of the economy from “stable” to “positive”

Greece's pension and social security system has been so bureaucratic and complex that some citizens hire consultants simply to understand their work credits and benefits.

As a report by ENYPEKK notes, self-employed professionals in Greece are under severe financial burden due to imputed taxation and yearly hikes in social security contributions

Alpha Bank underlines that despite these drawbacks, the construction building sector has shown positive performance since the beginning of the year, maintaining the growth trajectory of recent years.

The new era for Greece’s tax authority includes smart technologies including AI that will help simplify procedures and audits.

Cumulative exports during this timeframe reached 137.2 billion euros, up by 3% from 2023 levels, while imports rose by 2% to 97.5 billion euros.

He also stressed that his government is in an ongoing “fight” against tax evasion, emphasizing that “As tax evasion decreases, we will proceed with further tax reductions.

The incident in Florina reveals systemic flaws in Greece's existing protection measures for its tourists.

The Minister of National economy and Finance, Kostis Hatzidakis, highlighted that the IRIS system is a priority, stating that 3.3 million IBANs are already connected with IRIS.