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EC tweaks forecasts, sees 2023 growth at 1.2 pct
EconomyMacroeconomyThe European Commission updated its estimates in the latest winter forecasts, essentially retaining the view it held in the autumn, seeing modest growth of 1.2 percent in 2023, after a rise of 5.5 percent in 2022.
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Greece moves step closer to investment grade as Fitch ups rating by one notch to 'BB+'
EconomyFitch became on Friday the latest rating agency to place Greece one step away from investment grade, after upgrading its sovereign credit rating to ‘BB+’ from ‘BB’. The outlook is stable.
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OECD sees recovery slowing, urges fiscal discipline
EconomyMacroeconomyOECD secretary-general Mathias Cormann visited Greece on Tuesday for a meeting with Prime Minister Kyriakos Mitsotakis as the think-tank published its latest economic report about the Greek economy.
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BoG revises 2023 growth to 1.5 pct as short- and medium-term challenges persist
EconomyMacroeconomyThe Bank of Greece (BoG) has joined the group of organisations that has incorporated the latest global challenges in its forecast for Greece, with growth next year seen declining substantially compared to the 6.2 pct envisaged for 2022.
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PBO sees economy making soft landing, but facing challenges ahead
EconomyMacroeconomyThe Parliamentary Budget Office (PBO) released its latest quarterly report on Tuesday, which highlights some of the concerns for the coming year despite notable progress on the fiscal and economic front this year.
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GDP records first quarterly drop in Q3 since pandemic, 9M GDP up by 5.9 pct YoY
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP dropped by 0.5 percent quarter-on-quarter (QoQ) in the third quarter (Q3), from a downwards revised 0.6 percent in Q2, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.
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Record FDI flow into Greece raises bar, but is it sustainable?
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EconomyFeaturesGreece has reported record flows of inward investment in 2021 and looks set to exceed the amount again in 2022.
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Budget sees Greece outdoing peers with 1.8 pct growth, 0.7 pct primary surplus in 2023
EconomyMacroeconomyThe Finance Ministry tabled in Parliament on Monday the final budget for 2023, which - despite the global challenges - sees Greece outperforming EU peers and avoiding a recession, while also delivering a primary surplus.
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EC cuts 2023 growth forecast by more than half to 1 pct
EconomyMacroeconomyIn the European Commission’s autumn economic forecasts just released, Brussels confirmed a solid year of growth for Greece in 2022 and a significant downward revision of next year’s estimate.
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Despite downward revision, IMF sees Greece growing by 1.8 pct in 2023
EconomyMacroeconomyAmidst gloomy global economic prospects, which led to significant growth revisions in the World Economic Outlook that was published yesterday as part of the annual meetings of the IMF and World Bank, the Fund offered a small glimpse of hope to the Greek authorities for the challenging year ahead.