February 2, 2023
Economy, FEATURED
Tax inspectors have shut down an illegal gas station in Western Attica that sold €18 million worth of fuel since opening in 2010. An inspection revealed that the filling station did not have an operating license, lacked an input-output monitoring system and issued receipts from a cash register that did …
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February 1, 2023
Economy
Greek annual inflation rate is projected to slow to 7.2% in January from 7.6% in December 2022, with the inflation rate in the Eurozone projected to fall to 8.5% from 9.2%, over the same months respectively, Eurostat said in its flash estimate report. The report said that energy will continue …
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January 31, 2023
Economy, FEATURED
State subsidy on household electricity tariffs for February, for 90% of consumption up to 500 KWh per month was set at 4 cents per kilowatt hour or 40 euros per megawatt hour, Greece’s Energy Minister announced on Tuesday. For higher consumption over 500 Kwh, the subsidy is linked to energy …
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January 30, 2023
Economy
Fuel prices are expected to stay low in the coming period and therefore there are no plans for another ‘Fuel Pass’ subsidy at present, Development and Investments Minister Adonis Georgiadis said in an interview with public broadcaster ERT on Monday. “Half of the winter is gone and fuel consumption was …
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January 27, 2023
Economy, FEATURED
Greece’s first-ever pharmaceutical cannabis production plant was inaugurated at Examilia, in Corinth, on Thursday. The investment by Tikun Europe, subsidiary of Israel-based Tikun Olam, exceeded 40 million euros in a privately owned area of 6 hectares (60 stremmas), which includes an area of 21,000 sq.m. with state-of-the-art hybrid greenhouses, as …
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January 26, 2023
Economy, FEATURED
Greece remained among the most expensive wholesale electricity markets in Europe in 2022, a year when the average price of electricity increased by 141% compared to 2021. In the same year, the cost of natural gas imports more than doubled compared to 2021, while it almost quintupled compared to 2018. …
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January 25, 2023
Economy, FEATURED
Positive messages from ExxonMobil for an important natural gas field in Crete. Energy Minister says “there are expectations that it will cover the gap of Russian gas for 10 years in the European Union.” Environment and Energy Minister Kostas Skrekas spoke of “high expectations” from hydrocarbon exploration in the maritime …
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January 24, 2023
Economy, FEATURED
The city of Kavala in north-eastern Greece will turn into a hot spot for affluent foreigners seeking EU Golden Visa, due to a luxury resort like the Hamptons in the north-east US coast. This is the plan of a foreign investor who presented through social media the large tourist investment …
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January 23, 2023
Economy
Finance Minister Christos Staikouras proudly announced on Monday three government interventions aiming to improve the income of most households plagued by the inflation. These three interventions concern the increase of pensions by 7.75%, something that will be visible next week in February’s payments, the increase of the minimum wage from …
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January 22, 2023
Economy, FEATURED
Significant reductions in electricity bills for household consumers in February were announced by the Public Power Corporation (PPC) and other power providers on Saturday. In the announcement, it was noted that the final consumer price depends on the amount of the electricity consumption subsidy announced every month by the Ministry …
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January 19, 2023
Economy
A decline in energy cost must be rapidly reflected on Greek households’ and enterprises’ energy bills, Yiannis Masoutis, president of the Union of Hellenic Chambers said on Thursday. “It is a top priority that needs to become reality, without any delay, to rapidly reflect a decline in energy cost (electricity …
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January 17, 2023
Economy, FEATURED
Wholesale electricity prices fell below 100 euros/MWh in Greece for the first time in 18 months. Electricity prices for tomorrow, Wednesday, January 18, were set at 86.77 euros/MWh in the Greek Energy Exchange, falling below the 100-euro barrier for the first time since August 2021, media report. Market analysts attributed …
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January 17, 2023
Economy
Greece on Tuesday successfully auctioned a new 10-year bond raising around 3.5 billion euros from the market with the interest rate of the issue set a 4.4%. The Public Debt Management Authority said in an announcement that investor interest in the auction was very strong with offers reaching 22 billion …
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January 12, 2023
Economy, FEATURED
Inflation in Greece dropped to 7.2% in December 2022, Greece’s Statistics Authority ELSTAT announced on Thursday. According to the report, the Consumer Price Indexi in December 2022 compared with December 2021, increased by 7.2%. In December 2021, the annual rate of change of the CPI was 5.1%. The CPI in …
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January 11, 2023
Economy, FEATURED
Natural gas consumption decreased in December in Greece, falling to 5.05 TWh, or the second lowest level for the corresponding month in the last six years, after December 2019. At the same time, consumption for the entire year reached 56.5 TWh, reduced by 19.2% compared to 2021. According to Green …
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January 10, 2023
Economy, FEATURED
The recovery of the Greek economy from the Covid-19 crisis was strong, supported by the continuation of reforms, the Organisation for Economic Cooperation and Development (OECD) said in an Economic Survey on Greece which was presented by OECD Secretary-General Mathias Cormann alongside Greek Primer Minister Kyriakos Mitsotakis on Tuesday. The …
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January 9, 2023
Economy, FEATURED
The city of Trikala in central Greece will be the first ever in Europe to pilot the use of fully automated ‘delivery droids’. The first task of the delivery droids started at the “Elves’ Mill”, delivering letters written by children from the Elves’ Post Office to “Father Christmas”. Their next …
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January 7, 2023
Economy, FEATURED
At the end of each olive harvest year, the World Association of Writers and Journalists of Wines and Spirits (WAWWJ) collects and ranks all the olive oils that have been distinguished in 32 recognized international competitions in every continent, for their taste and quality, with the method of blind tasting, …
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January 5, 2023
Economy
The effects of the global crisis will continue to affect Greece as well, Finance Minister Christos Staikouras said on Thursday speaking to the radio station “Parapolitika 90.1”. However, the state of the Greek economy will be better than in much of Europe as the figures indicating that Greece will not …
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January 2, 2023
Economy, FEATURED
Winter sales in Greece are scheduled to start on Monday, 9 January 2023 and will run until 28 February 2023, the Enterprises and Retail Association (SELPE) announced on Monday. The SELPE added that the first Sunday of the winter sales, namely 15 January, the commercial shops will be open throughout …
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