Bank of Greece

The risks surrounding the Bank of Greece's forecasts for the growth of the Greek economy include, among others, the potential worsening of the geopolitical crisis in Ukraine and the Middle East and the consequent impacts on the international economic environment.

The number of inbound travelers to Greece in the Jan.-Apr. period increased compared to 2023 with tourists spending more on trips.

Corporate deposits rose by 36 million euros in April 2024, a notable shift from the 1,278 million increase recorded in the previous month.

March of this year saw an even more impressive surge, with non-resident arrivals spiking by 31.2% and revenues jumping by 34.2% compared to March 2023.

Exports were down by 10.7% in current prices with imports down by 1.9%

20.6 billion euros in related revenues topped the previous year’s figure by 16.5%

In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros

At current prices, exports dropped by 10.3% (‑10.7% at constant prices) and imports grew by 5.7% (9.4% at constant prices).

Greek households appear more pessimistic over the course of inflation in the coming 12-month period, compared with households in the rest of the Eurozone. The average expectations for inflation in Greece over the next 12 months remained stable at 10% in February 2024, while falling slightly in the Eurozone at 3.1%. The sentiments were found […]

According to Greece's central bank, net revenues from property sales in the country purchased by foreign nationals in 2023 exceeded 2.1 billion euros.

Greece's central banker also said high market prices in the country bely a problem with competitiveness

According to the Bank of Greece corporate deposits decreased by 912mln euros, compared to a 3.167bln euros decrease the previous month

This reflects a surplus of 112.6 million euros in January 2024 for the tourism balance, compared to a surplus of 54.6 million euros in the same month of 2023

As the BoG reveals, from early 2018 until the end of 2023, average housing sales prices at the national level have increased by 60%.

The surplus was attributed primarily to improvements in the secondary income balance and, to a lesser extent, the services balance

The measures are aimed at preventing or mitigating systemic risks stemming from the real estate market in Greece

Greece's central bank said the total value of these types of loans decreased to 69.46 billion euros by the fourth quarter of 2023, down from 71.18 billion euros in the previous quarter

Investments and private consumption are expected to be the key drivers of economic activity in the coming years

Despite the economic "success story", the influential central banker tells LSE audience that pending issues remain in order to upgrade economy's long-term competitiveness

The central bank forecasts were listed in the "Note on the Greek Economy" report