Well-known US hedge fund manager John Paulson speaks to the Sunday edition of “To Vima” and details his optimism over the course of the Greek economy
In two in-depth pieces on the Greek economy and the successful early repayment of its debt, the German-based weekly newspaper Ziet and RND (RedaktionsNetzwerk Deutschland) highlight why and how the small Mediterranean country achieved this impressive feat. Entitled “The Economic Situation of Greece: What No One Expected,” the long piece in the weekly newspaper Zeit, […]
The Greek Minister of National Economy and Finance, Kostis Hatzidakis, expressed his satisfaction with Scope's upgrade of the Greek economy.
Greece continues to outpace the EU average in terms of growth rates, despite signs of a slump. The outlook for 2024 and 2025, however, indicates a diminishing expansion in the face of rising national debt.
The baseline scenario assumes that primary budget surpluses will be maintained in the coming years, supporting Greece’s credit rating trajectory.
Putin says there isn’t any reason to panic following currency’s sharp fall
Therefore, there is need for policy interventions in order to boost demand, stabilize the labor market and support industrial production.
By 2026, the reduction in public debt is expected to bring it close to 140% of GDP.
Once at risk of default, Greece has made notable progress in debt reduction over the past few years
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 corresponding forecasts by the Greek government are 2.2% for 2024 and 2.3% for 2025
Additionally, a 300 million euro Guarantee Fund will be created with the European Investment Bank, leading to 1.5 billion euros in leverage
Moody’s took a “stricter” stance compared to the other agencies when in Sept. of 2023 it refused to grant Greece the investment grade.
Last April’s positive outlook issued by the agency lays the groundwork for another potential upgrade.
Data shows that Greece’s dependence on Middle Eastern oil is the highest among developed economies, as is its reliance on exports to the Middle East and North African region.
Yannis Stournaras addressed the 'Risk Management & Compliance Conference' as a keynote speaker on Monday
The International Longshoremen’s Association, which represents 45,000 dockworkers, is pushing for a 77% pay increase
Labor market conditions also continued to improve in the first half of this year, as the unemployment rate fell to 9.6% in June, the lowest in 15 years.
For 2024, the growth rate of the Greek economy is now expected to reach 2.14%, up from the previous estimate of 2.09%.
Former ECB chief urges EU to unleash subsidies and loosen rules to compete with U.S. and China