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Tag Archives: Economy

Greece’s state primary surplus at 1.763 bln euros in Jan-July

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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Online rentals benefited Greece by $1.4billion, says Airbnb

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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EU Commission warns Greece relief measures “a risk for agreed primary surplus”

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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Greece’s problem is the “distribution of tax burden,” says Budget Office coordinator

The problem of Greek economy “is not the level of taxation but the distribution of tax burden,” said the coordinator of Parliament’s Budget Office, Fragiskos Koutentakis.he pointed out that although the Greek economy is on positive course, the wounds of the economic crisis will need time to fully close. In …

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Greek Shipowners to voluntarily pay €75million per year to state coffers

At least 75 million euros per year will flow into the coffers of the Greek state with the new agreement signed between the government and the Shipping Community on Wednesday. According to the new agreement “the payment of a sum equivalent to 10% of the imported dividends of the members …

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Greece can be next euro success story, says EMS chief Regling

Greece is on track to become the next success story of the euro zone debt crisis, but fully regaining investors’ trust will require sustained commitment to economic reforms, the head of Europe’s rescue fund said on Tuesday. “Greece’s access to markets remains fragile,” European Stability Mechanism (ESM) head Klaus Regling …

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Speculations about snap elections do not help Greece’s economy, says chairman of UHCC Michalos

Speculating about early elections at a time when Greece was entering a phase of recovery does no service to the economy, the head of the Union of Hellenic Chambers of Commerce and president of the Athens Chamber of Commerce and Industry (ACCI) Constantine Michalos noted in an interview with the …

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Tsipras in symbolic Kastellorizo: “We don’t negotiate, we don’t trade a span of soil”

Kastellorizo 23 April 2010 and 17 April 2018: Eight years ago, it was Prime Minister Giorgos Papandreou who had chosen the remote island of Kastellorizo to announce that Greece had surrendered to the International Monetary Fund and the bailout agreements. On 17. April 2018, Prime Minister Alexis Tsipras chose again …

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Will Greece’s economy ever fully recover?

After years of international financial support, Greece’s third bailout program is due to finish in August this year. But what does this mean going forward? And despite appearing more stable economically, will confidence finally return – and with it, investment? The eurozone economy as a whole is much stronger, and …

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FinMin Tsakalotos admits “Citizens do not see the economy improvements”

Finally a government official admitted the obvious: that the average citizens does not see the improvements in economy as they are been recorded in spread sheets and in the upgrades of the contry’s credit ratings. Touring the island of Crete and meeting with local authorities, Finance Minister Euclid Tsakalotos said …

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Greece among 10 Most Miserable Economies in the world

Rising prices are more of a threat to the global economy this year than joblessness, according to Bloomberg’s Misery Index, which sums inflation and unemployment outlooks for 66 economies. The Misery Index has examined inflation and unemployment outlook in 66 economies The Index ranks Greece in tie with Turkey on …

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Greece and lenders reach staff-level agreement on 3rd review

Greece and its lenders reached a staff-level agreement on the country’s third program review on Saturday, Finance Minister Euclid Tsakalotos said after a meeting with the country’s lenders. “We achieved the agreement with the institutions on a staff-level on all issues,” he told journalists. “We won enough things and we are …

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IMF growth projection for 2018 at 2.6% of Greece’s GDP

The International Monetary Fund on Tuesday said the Greek economy will grow by 2.6 pct in 2018, up from a 2.4 pct growth rate estimate envisaged in a draft budget plan tabled to Parliament by the Greek government last week. The IMF expects the Greek economy to grow 1.8 pct …

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