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GDP
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EconomyMacroeconomy
GDP falls by 14 pct QoQ in Q2 and by 15.2 pct YoY to reach historic low Greece’s seasonally adjusted (SA) GDP fell by 14 percent quarter-on-quarter (QoQ) in the second quarter (Q2) of 2020 after a revised decrease of 0.7 percent in Q1 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
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Economy
Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020 Fitch re-affirmed Greece’s credit rating to ‘BB’ on Friday night, maintaining the stable outlook.
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EconomyMacroeconomy
EC trims 2020 recession forecast to 9 pct, but 2021 recovery also slashed The European Commission slightly revised its forecasts for Greece in the interim Summer forecast released on Tuesday, compared to the Spring forecasts that were released at the beginning of May.
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Economy
BoG highlights how Covid-19 compounds legacy issues and structural challenges The Bank of Greece (BoG) published its Monetary Policy Report for 2020 on Monday, outlining the numerous challenges that the pandemic will pose on the Greek economy, public finances and the banking system.
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EconomyMacroeconomy
GDP falls by 1.6 pct QoQ in Q1 and by 0.9 pct YoY Greece’s seasonally adjusted (SA) GDP fell by 1.6 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2020 after a decrease of 0.7 percent in Q4 2019, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
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Economy
EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021 The European Commission released today its Spring Economic Forecasts, the first official set of numbers since the pandemic outbreak, which point to the EU economies experiencing “a recession of historic proportions this year.”
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Economy
Athens expects emergency economic measures to contain 2020 contraction to 4.7 in baseline The Greek Finance Ministry published on Sunday night the Stability Programme for 2020 that it submitted to the European Commission, providing the first official assessment of the economic impact the government expects to see from Covid 19 this year, as well as the notable recovery expected next year.
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EconomyFeatures
Study proposes higher public spending to counter expected rise in NPLs The Centre of Planning and Economic Research (KEPE) has released an analysis of the impact of the coronavirus on Greece’s non-performing loan market.
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EconomyMacroeconomy
IMF sees 2020 GDP contraction at 10 pct, budget deficit at 9 pct due to virus impact The IMF released on Tuesday its latest economic estimates in the context of the World Economic Outlook, which has incorporated the impact of what it calls The Great Lockdown that sees global GDP dropping by 3 pct in 2020, subject to various uncertainties.
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Economy
OECD sees Greek economy most at risk from Covid-19, with impact reaching up to 35 pct of GDP The Organisation for Economic Cooperation and Development published on Monday a report that evaluates the initial impact on economic activity of containment measures taken around the globe against the spread of the coronavirus.