Tag Archives: Economy

The Committee of epidemiologists and other health experts advising the Greek government will hold an extraordinary meeting on Wednesday, March 17, to assess the epidemiological situation and to consider when and how the lockdown restrictions will be lifted. The prolonged lockdown, in the 4.5th month now, has increased citizens’ fatigue …

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The Greek government announced a package of new economic support measures worth 2.5 billion euros. The new package will relief more than 500,000 businesses, freelancers and workers, the Prime Minister said. The government will allocate an additional 2.5 billion euros to support employees and businesses, which are added to the …

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The government is examining the gradual opening of the economy as of March 22, starting with the retail trade sector, Finance Minister Christos Staikouras said on Monday in an interview with ‘Proto Thema’ FM radio station. “Our basic scenario is that from next week the economy will start operating normally. …

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The Greek economy will grow by 3.5% in 2021 and 5.0% in 2022, the European Commission said in its winter economic forecasts released on Thursday. In the report, the EU’s executive said economic recovery will continue, supported mostly by private consumption due to a gradual reopening of retail commerce, improving …

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The Budget Office of the Greek Parliament said in a report released on Tuesday that the negative repercussions of the pandemic remain manageable in the short-term but the second wave of the pandemic intensifies the uncertainty and medium-term risks for the economy. In the medium-term, positive economic prospects are based …

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Greece need to become attractive to investors in five ways, not simply over low labor costs, Prime Minister Kyriakos Mitsotakis said on Monday. The PM said that Greece’s comparative advantage should focus on taxation, the quality of human resources, the operation of the state, transparency, and the independence of institutions. …

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President of the Central Union of Chambers and the Athens Chamber of Commerce & Industry Konstantinos Michalos urged the government to strengthen the health system instead of lockdown in the catering industry with the purpose to contain the spread of the coronavirus. “The problem of the pandemic must be addressed …

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Greece has recorded a dramatic increase of people living on a salary below the poverty line: one in eight workers earns 200 euros per month, the annual report of the Labor Institute of private sector union umbrella GSEE has found. “A huge part  of the Greek population is at risk …

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Owners of restaurants, cages and bars placed 200 empty chairs were placed at Syntagma Square in front of the Greek Parliament on Wednesday afternoon to protest the financial consequences of the measures imposed to curb the spread of coronavirus. The silent protest aimed to raise awareness of the problems the …

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Greece’s economy will contract by 4.7% in 2020 due to the pandemic crisis but it will return to positive growth with a rate of 5.1%, the Finance Ministry said in its reform program sent to the European Commission in the framework of the European Semester. Unemployment is expected to reach …

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A plan for injecting billions of euros of emergency aid into Europe’s battered economies has been agreed by EU heads. Meeting via video, they agreed to set up a massive recovery fund, closely tied to the bloc’s seven-year budget. They also confirmed that €540bn (£470bn) of financial support would be …

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Finance Minister Christos Staikouras said that Greece’s economy appears it can adequately withstand the pressure exerted by the coronavirus pandemic for the next two to three months, without resorting to its so-called cash buffer. Speaking to state broadcaster ERT TV on Monday, Staikouras said the assessment was made by the …

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A financial aid of 800 euros for employees, suspension of tax and social security contributions and VAT decreases for goods related to coronavirus protection are among the economic measures announced by the Greek government on Wednesday. The package of financial measures to fight recession caused by the pandemic is worth …

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Greece is highly concerned about the impact of coronavirus on economy and the tourism industry, especially now that the country has started to improve its fiscal figures and progress. The international and Greek tourist industry are sailing in uncharted waters after the outbreak of COVID19 and the biggest crash test …

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“Greek economy is gradually returning to normality,” the governor of  Bank of Greece, Yannis Stournaras, said on Tuesday. Briefing the Parliament about the BoG interim report on Monetary Policy 2019. Among others, he stressed the need to deal with the high rates of non-performing loans and to reduce the primary …

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European Central Bank Vice President Luis de Guindos on Monday praised the progress made by the Greek economy. He was clever enough, though, to observe that the Greek people have not felt the improvement in their daily lives yet. “The Greek people, despite not yet feeling the improvement shown by …

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“Protection of the first residence harms the economy,” Development Minister and New Democracy Vice, Adonis Georgiadis, cynically stated over the weekend triggering strong reactions from the opposition. Addressing a meeting at the Greek Chamber of Commerce, Georgiadis argued that “there is no absolute protection of first residence in any advanced …

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The Greek state budget recorded a primary surplus of 1.763 billion euros in the January-July period, from a budget target of a primary deficit of 803 million euros. The primary surplus was 926 million euros in the same period last year, the finance ministry said on Monday. The ministry’s report …

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The Greek economy benefited from Airbnb by 1.4 billion US dollars in 2018, the online rentals platform said in a press release. Airbnb released statistics for over 30 countries about the “direct economic impact” of the platform. The data are based on host income and estimated guest spending- in USD …

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The European Commission released the European Semester 2019 Spring Package with recommendations for all Member States in order to advance sustainable and inclusive economic growth. On its 7-page long report on Greece, the Commission notes that “Greece is currently in the preventive arm of the Stability and Growth Pact and …

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