Finance

Young people taxed in Greece and who have turned 18 or 19 are eligible to apply

A second power line connecting the electricity grids of Greece and Turkey is scheduled for completion by 2029, according to a MoU signed this week in Athens by the former’s Independent Power Transmission Operator (IPTO or ADMIE) and its Turkish equivalent, TEIAS. The new line will run from Nea Santa, in northern Greece, to the […]

Greece’s trade deficit fell by 32 percent last month, with imports dropping by 19.4 percent (yoy) and exports by 8.8 percent, the Hellenic Statistical Authority announced on Friday. Specifically, the value of imports reached 7.214 billion euros in October 2023, down 19.4 percent from the corresponding month of 2022. Excluding oil products, imports fell by […]

This development can be primarily attributed to a significant decrease in the prices of natural gas (-53.2%) and fuels-lubricants

The stable income of consumers has significantly dwindled, compelling the majority to adopt "smart shopping" strategies to save money

Among others, the new legislation includes stricter rules and higher tax rates – based on presumed annual income - for self-employed professionals, craftsmen and freelancers

The total number of shares to be offered by the two majority shareholders corresponds to roughly 10 percent of the refinery group’s equity

The bill targets tax evasion and avoidance through a series of measures

AADE (the Greek Independent Authority for Public Revenue) launches a digital platform to encourage citizens to report fraud

According to data from Circana (formerly IRI) for the ten-month period of January-October 2023, the largest sales volume increase was recorded in non-alcoholic beverages and snacks at +4.4%, and alcoholic beverages at +4.3%

People in Greece apparently work more hours than most other residents of European Union countries, with only Romania and Bulgaria fielding longer labor hours, according to results of a report released this week by the French institute Rexecode. In fact, a worker/wage-earner/self-employed professional’s average weekly employment is far higher than then EU average, more-or-less busting […]

Alpha Bank report calculates power production in Greece in 2021 exceeded 54,000 GWH

Universal yield down from a previous 3.81 percent recorded in September; issue oversubscribed two-fold

Financial sector debts have been on an upward trajectory since the third quarter of 2022, reaching 12.7% as a percentage of GDP in the second quarter of 2023

Zara is set to introduce its Zara Pre-Owned platform in Greece on December 12 2023, providing customers with the opportunity to sell and purchase second-hand Zara clothing

In terms of volume, ELSTAT data indicated a marginal 0.02 percentile upward tick in the 3rd quarter of 2023, in comparison to the previous quarter of the same year

Greek policy priorities include the fight against poverty and social exclusion, the economy and job creation and public health

The Greek Ministry of Finance introduced an amendment to the tax bill, extending the reduced VAT rates until June 2024

Average interest rates for consumer loans, which fluctuated between 4.64% and 5.69% in early 2022, have climbed to 7.28% and 8.59%, according to the latest European Central Bank (ECB) figures

Fitch sees the ECB announcing a reduction, by 75 basis points, in rates as of June 2024, and dropping to 3.75 percent by the end of 2024