Economy

New Democracy’s strong results in last Sunday’s elections significantly increase the chance that it will form a government after the repeat elections to be held at the end of June, Moody’s credit rating agency noted on Thursday. This means that there will be continuity in fiscal and economic policy and …

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Hoteliers on the island of Crete threaten employees with an penalty clause of 5,000 euros should they quit job during the tourism season. Note that such a “clause” is illegal, as the Labor Center states. Representatives of the Labor Center of Heraklion have made serious complaints about the “delinquent and …

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More than six million taxpayers in Greece, a total of approximately nine million (a ratio of 7 out of 10), declare to the Tax Office annual incomes of less than 10,000 euros, with the total amount amounting to 18.3 billion euros. € However, due to the fact that approximately two …

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Greece continues to experience excessive imbalances but its vulnerabilities appear to be receding due to policy progress, according to fiscal policy recommendations given by the European Commission in the context of the European Semester. The European Commission recommends that Greece: Wind down the energy support measures in force by the …

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The deadline for filing 2022 income tax in Greece is extended until 15:00 on July 31, 2023. The relevant decision was signed on Tuesday by Deputy Finance Minister Apostolos Vesyropoulos. The deadline applies to individuals and legal entities. For those who owe taxes, the first installment must be paid by …

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Share prices at Athens Stock Exchange spiked on Monday, in the wake of the resounding victory of the ruling party in Sunday’s elections. The market sees the election result as the best possible scenario, an outcome that reduces political risk, paving the way for an independent government in the next …

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The Bank of Greece has has seen a major increase in electronic fraud in Greece during 2022, as transactions with payment cards worth 16.2 million euros  compared to 13.4 million euros in 2021 an increase by 21% compared to a year earlier. Attacks on cardholders via e-mails, SMS and phones …

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Greece’s Independent Revenues Authority AADE has deactivated a total of 17,612 short-term rentals listings on digital platforms such as Airbnb, Booking.com, VRBO and other relevant platforms. Reason for the deactivation is that according to data received from the electronic platforms, the short-term rentals owners had not received a Property Registry …

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An auction of 10-year and 15-year bonds by the Public Debt Management Authority on Wednesday attracted strong investment interest. The Greek state raised 400 million euros from the auctions, while bids reached 2.187 billion euros. The interest rate of the 10-year bond was set a 3.98%, down from a coupon …

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The districts of Athens Koukaki and Neos Kosmos as well as Piraeus appear to be the most popular areas for hosting short-term rental accommodation, judging by the strong upward trend of supply in these places, both in relation to last year and in comparison to 2019. According to the data …

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Governor of the Bank of Greece, Giannis Stournaras, put a break to the ambitious pre-elections announcements and financial promises by several political parties including ruling New Democracy. At the same time, he indirectly intervened in the elections campaign in favor of ruling New Democracy that aims to be the winner …

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Greek annual inflation rate slowed to 3% in April, from 4.6% in March and 10.2% in April last year, reflecting almost exclusively a rapid fall in energy prices. However, prices in food and food items grew 11.4% in the same month, Greek Statistics Authority ELSTAT said on Wednesday. Price Increases …

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Ιntracom Defense (IDE), a subsidiary of the Intracom Holdings group, signed a deal to sell 90.91% of its shares to Israel Aerospace Industries (IAI) in Athens on Tuesday, a statement by the Israeli company said. The deal is valued at nearly 60 million euros and is expected to be completed …

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Greece’s Statistics Authority ELSTAT released on Monday  its 2022 Survey on Income & Living Conditions of Households. 1 in 4 Greeks are at risk of social exclusion. Hundreds of thousands of families are not fed properly, and they are unable to pay bills on time – Risk of social exclusion …

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“Energy tourists” in Greece have burdened energy suppliers with an estimated overdue debt of 300-400 million euros. “Energy tourists” are repordely households and businesses, who move from one electricity provider to another leaving unpaid bills. According to calculations by the General Manager of “Natural Gas” and president of ESPEN (Association …

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Authorities on the island of Mykonos arrested another five people on Wednesday  for illegal construction works that alter the beaches and shores of the island. The arrests reportedly followed a complaint made by a resident in the area of Ornos that the construction was being carried out in front of …

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Unemployment rate in Greece fell to 10.9% of the workforce in March 2023s year, from 11.3% in February and 12.7% in March 2022, Greek Statistics Authority ELSTAT said on Wednesday. The number of unemployed people totaled 508,744, down 100,395 from March 2022 (16.5%) and down 14,096 from February 2023 (2.7%). …

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The online platform where citizens and farmers can submit applications for subsidy via the state program “Photovoltaic on the Roof” opened at 2 ‘ o clock Tuesday afternoon, May 2, 2023. The program enables thousands of households and farmers to generate the electricity they need and save money, the energy …

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The US confiscated Iranian oil on a tanker at sea in recent days in a sanctions enforcement operation, three sources said, and days later Iran seized another oil-laden tanker in retaliation, according to a maritime security firm. As oil markets remain jittery, the cargo seizure is the latest escalation between …

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Police has arrested two men for conducting illegal construction work inside an archaeological site at the western coast of the island of Mykonos. Police has reportedly said they detained on Wednesday afternoon a 21-year-old Egyptian and a 20-year-old Romanian national who were working in a plot of land where building …

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