Finance

Once at risk of default, Greece has made notable progress in debt reduction over the past few years

The Greek delegation included Council of Economic Experts president Michael G. Arghyrou​ and Public Debt Management Agency Director General Dimitris Tsakonas

According to recent data from the Hellenic Statistical Authority (ELSTAT), the General Index of Construction Material Prices for New Residential Buildings rose by 5.5%.

Finance Minister Kostis Hatzidakis told Reuters Greece needs to focus on fiscal prudence, and that the country had to learn from past mistakes.

Major issues that are expected to intensify if not addressed, include the high current account deficit, the substantial investment gap, low productivity, and the question of long-term growth.

The investigation into potential violations of Greece's profit margin cap now includes 26 major food and non-food companies as well as 9 supermarket chains.

Calculations show that the real wage as of September 2024 is 693 euros, meaning the actual minimum wage has yet to reach 700 euros.

Most Greeks aged 50-74 do not receive any old age pension.

In a recent report, Greece’s central bank warned that the effects of climate change are expected to drive up crop and fruit prices in the coming years.

SEV’s president is also expected to emphasize the need for clear, streamlined licensing processes and structural issues that hinder the industry.

Trends regarding holiday homes in Greece, in recent years, are primarily driven by the significant demand of affluent clients who seek to buy more comfortable family homes.

The forecast was included in the D.C.-based Fund’s Fiscal Monitor report on global fiscal developments

Greece's dominant power utility sought 500 million euros from the markets; bond matures in 2031

The Greek-owned fleet, comprising 4,992 ships with a total carrying capacity of 394,977,181 dwt, maintains the top global position

The cost of half a kilo of fresh bread in Greece is the second lowest in Europe and 48% lower than the European average, standing at €1.21.

As Greeks continue to struggle to find affordable and suitable housing, Greece's tax authority is taking steps to determine the true scale of vacant properties that could become available on the market through the creation of a digital property file.

The country remained in the same spot from last year's list and is sandwiched between Belgium (26th) and Denmark (28th). For the 11th year in a row, Estonia ranked 1st on the Index

Yesterday’s News Wrap-up includes the following: Greek Public Debt to GDP Ratio Highest in EU Greek public debt to GDP ratio continues to be the highest in the EU for Q2 2024 at 163.3%, even though according to Eurostat, it recorded the second largest reduction on a year-to-year (YTY) basis at -8.9 pp, with Cyprus having […]

More than 6,200 legal entities and individuals in Greece have declared more than three properties offered up for short-term leasing

The corresponding forecasts by the Greek government are 2.2% for 2024 and 2.3% for 2025