Bank of Greece

More arrivals, but less revenues is the verdict by the Bank of Greece (BoG) for this past August in terms of travel remittances from the all-important tourism sector in the country. Specifically, according to the central bank revenues decreased by 1.8% compared to the corresponding month of 2023. Conversely, revenues during the Jan-Aug 2024 period […]

Bank of Greece (BoG) reports nearly 36,000 buy back transactions this year up until the end of September in the country

Be alert regarding unusual behavior or situations (e.g., “too-good-to-be-true” offers, urgent requests for money, suspicious activity on your bank account or card).

The annual rate of change regarding the total credit extension in the domestic economy remained constant, settling at 3.8% in August, the Bank of Greece reported.

Conversely, tourists from non-Eurozone countries, particularly from Balkan and Eastern European regions, increased their spending by 15.8% compared to the same period last year.

Regarding monetary policy, the BoG notes that 2024 will see a marginal expansion as a result of investment spending from available EU funds.

The rise is primarily attributed to the fall of the balance of goods records and, to a lesser extent, to the balance of primary income.

Specifically, from Jan. to Aug. 2024, the central government recorded a cash surplus of 1.368 billion euros, compared to a deficit of 964 million euros in the same period of 2023.

The latest official figures by the Bank of Greece (BoG) confirm that residential rents continue to rise throughout Greece, with the northern metropolis of Thessaloniki leading the way with an average 9.1% increase year-on-year in the cost of registered residential leases in the first quarter of the year. The figures hold more weight than similar […]

As per inflation, Greece’s central bank expects a continued slowdown this year, with the inflation rate dropping to 3%

Attika Bank informed its shareholders of the absorption of Pancreta Bank, following its initial announcement of the deal on July 24th.

According to the BoG figures, travel revenues in the first six months of 2024 reached €6.9 billion, compared to €6.1 billion in the same period of 2023, generating an additional €754 million in 2024 compared to 2023.

Roughly five billion euros was invested in state shares, bonds between 4Q 2022 and 3Q 2023 as a result of recent Greek economy credit rating hikes

Data from the Bank of Greece for June 2024 revealed that the average weighted interest rate for new deposits held steady at 0.57%, while the rate for new loans climbed to 5.78%

In May, total tourism revenue increased by 6.8%, while arrivals rose by 21.3%. However, the average spending per trip decreased by 12.2%

Food inflation in Greece is comparable to the EU27 average, while Greek wages, in terms of purchasing power, are only higher than those in Bulgaria

Speaking at a book presentation in Athens, Yannis Stournaras pointed out that Greece’s pension system differs, in terms of structure, with other more advanced western countries

The average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations remained almost unchanged at 0.17%

Prices are expected to continue to grow in 2024, despite the fact that they far outweigh Greeks' increases in income

Small businesses have implemented more conservative wage hikes for lower-paying jobs, contrasting with a notable 10% decline in earnings for higher-paid positions.