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Draft 2023 budget sees growth cooling to 2.1 pct, primary surplus at 0.7 pct
EconomyMacroeconomyThe Finance Ministry tabled in Parliament on Monday the draft budget for 2023, in which Greece is seen growing by 2.1 pct in 2023 and securing a primary surplus of 0.7 pct of GDP, marginally below the stated commitments.
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PBO sees medium-term risks mounting, despite positive near-term outlook
EconomyMacroeconomyThe Parliament Budget Office (PBO) released on Thursday its latest report, for the second quarter of the year, and notes the relative positive picture in the near-term, despite the uncertain times due to the energy crisis. However, it notes a series of challenges and risks in the medium-term.
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Quarterly GDP growth slows to 1.2 pct in Q2 as investments shrink and imports rise
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP increased by 1.2 percent quarter-on-quarter (QoQ) in the second quarter (Q2), from an upwards revised 2.9 percent in Q1, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.
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Impact of uncertainty on economy starting to emerge in hard data
EconomyFeaturesThe uncertainty of the Ukraine conflict, which is being felt primarily through the energy crisis and the swelling inflation wave, has been reflected for months in sentiment surveys and is now gradually filtering through in hard data, sending the first recessionary signals.
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Fitch leaves rating and outlook unchanged, underlines fiscal performance key to higher grade
EconomyFitch affirmed on Friday Greece’s ‘BB’ credit rating and kept the outlook positive, remaining one notch behind S&P and two notches from investment grade.
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BoG revises growth forecast down to 3.2 pct amid growing uncertainty
EconomyMacroeconomyThe uncertain times across the global economy were captured in the latest monetary policy report by the Bank of Greece, which revised down its Greek growth forecast to 3.2 pct for 2022, from the 3.8 pct expected in April.
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PBO urges continued fiscal discipline amid growing instability
EconomyIn its latest report covering the first quarter of 2022, the Parliamentary Budget Office (PBO) sees mixed signals for the Greek economy and expects international factors to play a key role in developments in the near term.
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OECD lowers 2022 growth forecast to 2.8 pct as challenges mount
EconomyMacroeconomyThe OECD revised down its growth forecasts for Greece for 2022 amidst surging global inflation, heightened uncertainty, and tighter monetary policy conditions.
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GDP rises by 2.3 pct QoQ in Q1 as consumption grows, but other components shrink
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP increased by 2.3 percent quarter-on-quarter (QoQ) in the first quarter (Q1), from an upwards revised 0.8 percent in Q4, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
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Incorporating impact of Ukraine war, EC revises growth forecast down to 3.5 pct
EconomyMacroeconomyIn its spring forecasts, published on Monday, the European Commission incorporated the impact of the conflict in Ukraine on the growth outlook for the eurozone, with the Greek growth rate for this year now revised down to 3.5 pct, from the 4.9 pct included in the winter forecast published in February.