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Economy
S&P upgrades Greece to 'BB' with positive outlook in expectation of post-pandemic upside In an unexpected move late on Friday night, S&P upgraded Greece’s rating by one notch to ‘BB’ from ‘BB-‘, while also revising upward its outlook from stable to positive.
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EconomyMacroeconomy
IMF expects modest recovery, lingering debt but primary surplus to return swiftly Within the context of its Spring meetings, the IMF updated its macroeconomic and fiscal estimates for Greece in the World Economic Outlook and the Fiscal Monitor publications.
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Economy
BoG sees 4.2% recovery in 2021, re-emphasises need for bad bank In the governor’s annual report issued on Tuesday, the Bank of Greece maintains its rather positive stance on the Greek economy, while it highlighted the challenges faced by the country’s banking sector.
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EconomyMacroeconomy
PBO sees just 2.7% growth this year, warns about private debt Parliament’s Budget Office (PBO) published on Tuesday its report for the fourth quarter of 2020, also updating its macro estimates for 2021.
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EconomyMacroeconomy GDP falls 8.2 pct in 2020, but rises 2.7 pct QoQ in Q4 Greece’s seasonally adjusted (SA) GDP rose by 2.7 percent quarter-on-quarter (QoQ) in the fourth quarter (Q4) of 2020 after an upward revised increase of 3.1 percent in the previous quarter, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
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EconomyProgramme
In 9th post-bailout review, EC sees reforms slowing due to pandemic The European Commission published on Wednesday the ninth post-programme report in the context of the enhanced surveillance agreed at the end of Greece’s third adjustment programme back in the summer of 2018.
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EconomyMacroeconomy
EC sees big drop for economy in 2020, expects milder recovery of 3.5 pct in 2021 Within the context of its Winter Forecasts, the European Commission gave on Thursday an updated outlook on the performance of EU economies, which suggest Greece suffering a deeper recession last year and slower growth for 2021.
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Economy
Fitch keeps Greece at 'BB' rating as risks remain on horizon As was broadly expected, on Friday night Fitch kept Greece’s credit rating and outlook unchanged, at ‘BB’ and stable.
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Economy
BoG insists on need for bad bank, sees EU funds boosting recovery from 2021 The Bank of Greece tabled its interim monetary policy report for 2020 on Monday, shedding light on how it expects the Greek economy and banking system to develop next year.
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EconomyMacroeconomy
GDP grows by 2.3 pct QoQ in Q3 and drops by 11.7 pct YoY as services exports crash Greece’s seasonally adjusted (SA) GDP showed an increase of 2.3 percent (QoQ) in the third quarter (Q3) of 2020 after a revised decrease of 14.1 percent in Q2 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.