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OECD ups growth outlook for 2023, warns about headwinds affecting demand and consumption
EconomyMacroeconomyThe OECD has become the latest international organisation to incorporate the more positive outlook for the Greek economy into its projections, revising upwards its growth forecast for 2023, to 1.6 pct, from 1.1 pct in the January estimate.
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Annual GDP growth slows in Q1, contracts by 0.1 pct QoQ
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP decreased by 0.1 percent quarter-on-quarter (QoQ), from a downward revised 1.1 percent in the last quarter of 2022, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.
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EC reports highlight tight fiscal path and economic challenges
EconomyMacroeconomyThe European Commission published on Wednesday two key reports, one was in the context of the 2023 spring recommendations and the other was the second report of the post-enhanced surveillance period.
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EC doubles 2023 growth forecast to 2.4 pct, affirms 2.5 pct of GDP primary surplus next year
EconomyMacroeconomyThe European Commission upped its outlook on Greece for this year in its latest forecast published on Monday. It now expects the Greek economy to grow by 2.4 pct in 2023, from 1.2 seen in the previous estimate in February.
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BoG stresses need to avoid putting investment grade at risk
EconomyMacroeconomyIn its latest financial stability report published on Thursday, the Bank of Greece highlights the progress achieved in domestic banking and notes the challenges that lie ahead for the sector and the Greek economy.
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Stability Programme sees improved growth, primary surplus above 2 pct from 2024
EconomyMacroeconomyGreece submitted to the European Council and the European Commission the latest Stability Programme of 2023, covering the 2024-2026 period, in line with the Council regulations.
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Latest 2022 fiscal data a boost as profit transfers and growth lead to small surplus
EconomyMacroeconomyThe Greek authorities were handed a welcome boost on Friday as ELSTAT announced the latest fiscal data for 2022, in the context of the first Excessive Deficit Procedure (EDP) notification of 2023, where a small primary surplus was recorded.
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Latest IMF estimates see growth of 2.3 pct, return of permanent primary surpluses
EconomyMacroeconomyThe IMF spring meetings produced some good news for Greece via the World Economic Outlook and Fiscal Monitor.
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BoG sees 2.2 pct growth in 2023 but warns new govt must stick to reforms
EconomyIn the Bank of Greece governor’s annual report for 2022, Yannis Stournaras outlined the progress that the economy made in 2022, although the year was marked by increased global uncertainty and the challenges posed by the conflict in Ukraine and price pressures stemming mainly from the energy sector.
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Q4 GDP grew by 1.4 QoQ, 2022 GDP rose 5.9 pct
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP increased by 1.4 percent quarter-on-quarter (QoQ) at the close of 2022, from a rise of 0.4 percent in Q3, after the previous drop by 0.5 percent was revised upwards, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.