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Tag Archives: 2020

Greece’s economy contracted by 9.0 percent in 2020, deeper than estimate

The Greek economy contracted by 9.0 percent last year, deeper than an 8.2-percent estimate made in March. The country’s  GDP reached 167.077 billion euros, from 183.640 billion in 2019, the Greek Statistical Authority said on Friday. More specifically, final consumption spending fell 5.5 pct (household consumption down 8 pct and …

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Greek GDP contracted by 8.2% in 2020, said ELSTAT

Greek Statistics Authority ELSTAT announced on the economic data for 2020. The country’s GDP contracted by 8.2% to 168.5 billion euros from 183.6 billion in 2019, the report said. ELSTAT said that Greek GDP shrank by 7.9% in the fourth quarter of 2020 compared with the same period in 2019, …

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Greek state budget deficit 2020 at €22.8bn; lower than expected, says Finance Ministry

Greek state budget recorded a lower than expected deficit in 2020 offering a breathe as the ministry tries to implement its fiscal policy in 2021, the Greek Finance Ministry said on Monday. A report said the budget deficit totaled 22.808 billion euros in 2020, down 1.5 billion from budget provisions. …

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Greece’s economy sinks -11.7% in Q3 2020

Greek economy sank to -11.7% in the third quarter of 2020 and it looks as if the opening of tourism with restrictions did not pay off. The Greek Statistical Authority (ELSTAT) announced on Friday the Gross Domestic Product for the 3rdquarter of 2020. Q2 2020: -14.1% (pandemic lockdown) Q3 2020: …

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E-commerce turnover tripled to 15 billion euros in 2020

E-commerce turnover is expected to triple totaling 15 billion euros in 2020, helped by the pandemic crisis, but this growth is not equally distributed, the Institute for Small- and Medium-Sized enterprises of the Hellenic Confederation of Commerce and Entrepreneurship said in a survey released on Monday. The survey, conducted on …

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Greece receives World’s Leading Tourist Board at World Travel Awards 2020

The Greek Ministry of Tourism and the Greek National Tourist Organisation (GNTO) were together awarded as the World’s Leading Tourist Board at the World Travel Awards (WTA) 2020. This year, due to the health restrictions, the WTA was held online on Friday, November 25, and was broadcast worldwide from the …

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Migration flows to Greece dropped 74% , says Frontex

Refugee and migration flows to Greece dropped 74%pct in the first ten months of 2020, compared to flows registered in the same period in 2019, says a report released on Thursday by Frontex, the European Border and Coast Guard Agency. Some 17,000 crossings into Greece were recorded between January and …

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Greece’s tourism revenues down 78% in first nine months of 2020

Tourism revenues in Greece went down by 78% and arrivals recorded a decline of 77.2%, the Bank of Greece said in a report about the performance in the first nine months of 2020. This is practically the performance of the whole year as there is no tourism traffic due to …

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Unemployment up 19.9% between June 2020 and 2019

Registered unemployment fell 3.16% to 1,126,173 in June 2020, from 1,163,955 in May 2020 and rose from 938,812 in June last year (up 19.96%), Greece’s Manpower Employment Authority OAED said on Monday. The number of unemployed people seeking jobs in June was 1,068,856, with 536,144 (50.16%) of them being long-time …

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Reluctant to enjoy summer holidays this year? (POLL)

A recent survey has shown that the majority of respondents are reluctant to spend on summer holidays and traveling this year. According to a survey conducted by GlobalWebIndex (GWI), spending on holidays and traveling is now second to health and safety due to the pandemic. The survey was conducted in …

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OECD: Recession in Greece lower than the Eurozone average

The Greek economy will contract at a smaller rate in 2020 compared with the Eurozone average, the Organisation for Economic Cooperation and Development (OECD) said in its semi-annual report on the global economic outlook. This forecast comes in opposition to forecasts made by the European Commission and the International Monetary …

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“Greek Summer State of Mind”: The new spot of Tourism Ministry (POLL)

“A Greek Summer State of Mind” is the new message of the Greek tourism campaign presented at a special event on Thursday. The focus of the spot is that “the Greek summer” is more than sun and sea, but also an idea. Wherever you are in the world… whatever you’re …

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Half Greece wakes up in the middle of a snow landscape (picts, video)

What if April nears its end… Half Greece woke up in the middle of a snow landscape on Thursday, April 23, 2020. As meteorologists have forecast, the barometric low brought not only rainfalls but also snow, locally dense. In the mountainous areas of Karditsa, south-west Macedonia, snow started to fall …

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Projections of 10% recession are “exaggerated” says Bank of Greece

“Estimates of a 10% economic recession this year were exaggerated” governor of the Bank of Greece Yannis Stournaras said on Tuesday. he added that he expected the country’s GDP to shrink by 8.% under the worst-case scenario. Speaking during a new cycle of online meetings organized by the Delphi Economic …

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Bank of Greece sees zero growth in 2020 due to conoravirus

The Greek economy will fall to zero growth this year while it will show a significant divergence from fiscal targets for the year, the Bank of Greece said in its annual report on the Greek economy, presented on Friday. The report noted that the smooth course of the economy was …

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Eurogroup: Greece no longer bound to 3.5% primary surplus target in 2020

Finance Minister Christos Staikouras said that Greece is not longer bound by 3.5% primary surplus target for 2020, following the decisions made at the Eurogroup teleconference meeting on the economic response to the coronavirus pandemic. “Today’s decisions fully meet Greek positions and priorities,” Staikouras said late on Monday. He stressed …

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Greeks celebrate Blessing the Waters and Epiphany 2020

Greek Orthodox Christians plunged into icy cold waters on Monday and sought the Holy Cross in the sea, in lakes and rivers as Greeks marked the religious feast of Epiphany on January 6. On this day, Theophany or Fota (Lights) Greeks commemorate the baptism of Jesus Christ in the Jordan …

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