Economy

An amendment legislating for an emergency subsidy pr rebate of up to 600 euros for energy consumers and an emergency levy on electricity producers was tabled in Parliament late on Tuesday. The measures are part of a support package to offset soaring electricity prices recently announced by the government. The …

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The European Commission gave the green light for the disbursement of 748 million euros to Greece from the Eurogroup, based on the 14th report of post-memorandum enhanced surveillance that was released on Tuesday. In the report, the Commission noted that Greece has taken the necessary steps to reach the agreed …

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Passenger traffic at Greece’s airports soared 383% to reach 8.1 million in the period January-April 2022, compared with the same period in 2021 when only 1.7 million were recorded due to Covid restrictions, the Civil Aviation Authority said on Monday. The CAA added on its statement that scheduled flights at …

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The European Commission has revised its forecasts for the Greek economy downwards, envisaging a GDP growth of 3.5% in 2022 and 3.1% in 2023, from 4.9% and 3.5% respectively in its winter forecasts made in last February. On Monday, the Commission released its spring 2022 report on economic growth in …

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Greek hotels will be looking to staff 55,000 positions this summer, at what is expected to be a very busy summer, according to hoteliers in the country. 22% or over 1 in 5 available positions will remain unfilled, hoteliers say, speaking to state-run news agency amna. According to data provided …

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Shipping has operated and continues to operate as “a beacon of stability in a volatile global environment,” the president of the Union of Greek Shipowners, Melina Travlos, said on Thursday. In a statement on the occasion of the Posidonia international shipping exhibition, to be held in Athens on June 6-10, …

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The European Commission has prepared an emergency plan for the case of an energy blackout. According to Spanish daily El Pais the Commission intends to present the plan on May 18. The plan contains several actions to be taken by EU member states for the worst case scenario  in which …

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Inflation in Greece broke a 27-year-record in April reaching 10.2%, Greek Statistics Authority ELSTAT announced on Tuesday. The rise of the Consumer Price Index reached a historic high since 1995. Consumer Price Index (CPI) of April 2022 (reference year 2020=100.0) is depicted as follows:The CPI in April 2022 compared with …

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Greece’s Energy Regulatory Authority (RAE) has estimated that the excessive profits by electricity producers and suppliers in the country are at 600 million euros an audit report said. The Prime Minister had announced that the super profits will be taxed with 90 percent as a measure to have overcharges returned …

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A guide on how electricity consumers in Greece will receive the state aid for ‘inflated electricity bills in the last six months has been issued and and posted on several media. The guide refs to beneficiaries, how to apply on the special platform as well as how to calculate the …

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Prime Minister Kyriakos Mitsotakis announced on Thursday evening a package of relief measures for households and businesses with the aim to tackle the soaring energy prices and to calm down an increasing social anger. In his televised message the Prime Minister announced a program of four key points that includes …

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Τhree Greeks and one Cypriot are listed on the Forbes “30 Under 30”, a list of the most important people under 30 years old that includes professionals in all possible categories, from innovation and medicine to culture and fashion. The seventh annual Forbes Under 30 Europe list shows the power …

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Alerted by the citizens’ anger over the energy prices and the increasing cost of living the conservative government is promising to come up with a new national support plan for the benefit of households and businesses. The plan is expected to be implemented in June. The national plan will be …

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Prime Minister Kyriakos Mitsotakis, his counterparts from Bulgaria, Kiril Petkov, and North Macedonia, Dimitar Kovacevski, as well as the President of the European Council, Charles Michel, and President of Serbia, Aleksandar Vucic, inaugurated on Tuesday the new Floating liquefied natural gas (LNG/ FSRU) terminal in Alexandroupolis, northern Greece. The LNG …

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Mid-season sales kick off in Greece on Tuesday, May 3 and customers must no longer show a Covid-Pass such a vaccination  or recovery certificate or a negative Rapid test to enter retail shops for their purchases. Mid-season sales run until May 15, 2022, and retail shops will be open also …

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Shocking Eurostat data: Inflation in Greece skyrocketed to 9.4% in April reaching a new historic height. Inflation was 8% a month earlier, in March 2022. According to the provisional data released by the European Statistics Authority, inflation rose in the eurozone to 7.5% from 7.4% a month earlier. Looking at …

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Mountainous and remote, the Greek-Bulgaria border once formed the southern corner of the Iron Curtain. Today, it’s where the European Union is redrawing the region’s energy map to ease its heavy reliance on Russian natural gas. A new pipeline – built during the Covid-19 pandemic, tested and due to start …

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“Greece will pay Gazprom in a way that will not violate sanctions and will ensure the country’s energy efficiency,” Energy Minister Costas Skrekas said on Thursday, following a gas supply emergency meeting chaired by the Prime Minister. the Greek government has worked out a Plan B for the case that …

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Greece has sufficient energy and no interruption in the country’s supplies is expected, according to an emergency meeting chaired by Prime Minister Kyriakos Mitsotakis on Wednesday. Greece’s energy supplies are secured and the country will make the next payment to Russian gas producer Gazprom at the end of May, the …

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A book-building process for the reissue of a 7-year bond attracted strong interest on Wednesday. Half an hour before the closure, bids were exceeding 5.8 billion euros, sources told media. Ultimately, the process concluded with the Greek state to have reportedly raised 1.5 billion euros at an interest rate of …

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