February 9, 2023
FEATURED, Society, Very Mix
Domestic wine consumption in Greece increased by 41.3% in the 2021-2022 wine season compared to the 2020-21 season, approaching the high levels of 2013, 2014, according to a sectoral study on wine=making, prepared by the company Stochasis Management Consultancy. The share of bulk wine (non-standard or bag-in-a-box) in the total …
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November 1, 2022
Economy
Government officials are busy working out the plan for reducing energy consumption by 5%, which is to become mandatory for industries from December 1, 2022 to March 31, 2023. The first draft, presented last week by the Energy Ministry and Independent Power Transmission Operator (ADMIE) to representatives of industrial companies, …
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August 1, 2022
Economy, FEATURED
Greece’s government is getting ready for the worst energy scenario and plans to cut on natural gas consumption with darker streets and historical monuments as well as with rolling power outages for the households. This was announced by both the Energy minister Kostas Skrekas and deputy Finance minister Thodoros Skylakakis …
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June 9, 2022
Economy, FEATURED
With incentives like increased funding to public buildings Greece’s government presented a plan aiming to reduce energy consumption. The plan called “Operation Thermostat” sets the guidelines for the energy consumption reduction and offers incentives in cash to state entities that cut back on energy use. Environment and Energy Minister Kostas …
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February 21, 2022
Economy, FEATURED
Greek citizens continue to pay among the highest social security contributions in Organization for Economic Cooperation and Development (OECD) countries, while consumption and property taxes remain high too, according to a Tax Foundation study. On the contrary, revenues from the income taxation of individuals and corporations are significantly lower than …
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August 2, 2021
FEATURED, Greece
Greeks were urged on Monday to limit the use of electricity amid a 11-day-long heatwave that strike the country with temperatures of 44-45 degrees Celsius. Reason is the energy grid’s warning of a power blackout. The country’s Energy Ministry issued a statement urging citizens to limit power and thus at …
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December 5, 2020
Economy, FEATURED
Greece imposes a “Green Levy” on the diesel consumption as of January 2021, Energy Minister Kostis Hatzidakis has announced. the levy is set at €0.03 per liter but motorists will pay €0.04 due to Value Added Tax. The measure has been included in the amendment for the support of renewable …
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May 10, 2020
Economy
Energy consumption in Greece is expected to fall by 11% as a result of the coronavirus crisis’ impact on the economy and return to pre-crisis levels after two years, Public Gas Corporation (DEPA) vice-chairman Professor Costas Andriosopoulos said on Friday. Speaking at an online discussion on the effects of the …
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February 20, 2019
Economy
Price increase of 23 percent and higher? “No, thanks!” said Greeks and cut on their favorite drink, the coffee. Greek coffee? Frappe with instant coffee? Filter coffee or espresso for Cappuccino or Freddo? Exorbitant prices due to the Special Consumption Tax forced Greeks to more austerity and cuts and turned …
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December 5, 2017
Economy
Greece’s independent statistics agency ELSTAT said the country’s economy grew by 1.3 percent on the year in the previous quarter, failing to meet ambitious growth expectations from the government and European Union. Without a revision, the July-September growth figure announced Monday suggests that Greece could miss its target of annual …
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June 2, 2017
Economy
Greek statistics Authority ELSTAT announced the Gross Domestic Product (GDP) for the first quarter of 2017. According to ELSTAT provisional data, the Greek economy grew by a slim 0.4 percent in the first three months of 2017. The date revise a contraction of 0.1 percent reported in May. “The available …
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April 19, 2013
Economy, Society
Why did we freeze all through the winter? Because the Greek finance ministry had raised the special consumption tax in heating oil, while the tax in natural gas was raised a year before. What did the ministry win from having us on cold show? It raised more revenues – more …
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November 17, 2011
Economy
Yesterday I visited one of the most known cosmetics multi-stores in Greece, a branch located in one of the middle class suburbs of Athens. It was about 2 pm. I was very much surprised to see we were no more than 5-6 customers there. I did my shopping, strictly staying with …
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October 26, 2011
Economy, Society
“They put our feet in one single shoe” shouts the old lady as she enters slowly a bakery shop in a middle class suburb of Athens. She stands half-at the doorway and sends a smile to the bakery woman; she shouts over my head “I can’t buy anything today, I’ve …
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September 26, 2011
Economy, Society
The rumors and the scenarios about a 50% ” Haircut” of the Greek debt and an “orderly default” , call it also “controlled bankruptcy”, keep whirling around the heads of ten million Greeks causing increased uncertainty and depression. With the tax hikes and the income decreases, the Greek household have already …
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March 31, 2011
Economy
This seems to be a day with lots of economy news. Bad news. Then the recession is digging deep in our lives. It’s just that the official data confirm our daily experiences. Greek Statistics ELSTAT released data showing a decline at double-digit rates in sales and turnovers in retail trade. …
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March 18, 2011
Economy
Greek economy shrank and recession hit unprecedented 6.6 percent in the fourth quarter of 2010, Greece’s Statistic Authority announced. At the same time, the total consumption spending fell 67 percent in the October-December period, compared with the same period in 2009 (public consumption fell 1.9 percent and private consumption fell …
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