Tag Archives: GDP

Shock!? Greece is the second poorest country in Europe after Bulgaria, when it comes to purchasing power and the gross domestic product (GDP). According to Eurostat data released on Tuesday, Greece is second from bottom on the list with gross domestic product (GDP) at 33%, when the EU average is …

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Bank of Greece governor Yannis Stournaras appeared even more optimistic about the future of the Greek economy than the government in an interview with Politico on Tuesday. Stournaras estimated that GDP growth in 2021 will exceed 6 percent. In fact, he predicted that the country’s GDP at the end of …

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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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Greece’s debt climbed to 181.1 percent of GDP in 2018, the largest ratio in the euro zone, EU’s statistics authority Eurostat said on Tuesday. Public debt in Greece and Italy, the two most indebted countries of the euro zone, grew last year while the bloc as a whole recorded an …

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The Greek economy recorded a primary surplus of 4.4 pct of GDP, or 8.149 billion euros, in 2018, Hellenic Statistical Authority said in a report sent to Eurostat in the framework of the excessive deficit procedure. The statistics service confirmed that the government exceeded its goals for a primary budget …

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Greece’s primary budget surplus reached 4.14 percent of gross domestic product last year, based on the terms of the country’s economic adjustment program, according to Finance Ministry officials. Earlier, the Hellenic Statistical Authority said in a report that the Greek general government recorded a primary surplus of 3.9 pct of …

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The International Monetary Fund has revised, downwards, its forecast for GDP growth in Greece for 2018, to 2 percent, down from 2.6 percent that it had forecasted last autumn and further down from 2.3 percent given by the Greek government for the current year. The forecast was included in the …

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The average Gross Domestic Product per capita has decreased at € 16,294 in 2015 recording a decline of  0.7% when compared to 2014. At the same time, the ‘richest’ Greeks live in the prefecture of Attica around Athens, despite the continuing recession. According to Greek Statistics authority ELSTAT, the richest …

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Bitcoin’s unprecedented rally has boosted the cryptocurrency’s market cap to almost $200 billion. That is more than the annual output of entire economies such as Greece and New Zealand. Views on bitcoin are broadly divided with some investors worried over the bubble nature of the phenomena, while others see it …

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Following a recommendation by the European Commission, the Council of the European Union decided to close the excessive deficit procedure for Greece. It confirms that the  country’s deficit is now below 3% of GDP, the EU’s reference value for government deficits. Official statement On 25 September 2017, the Council repealed its …

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Some countries have much larger shadow or unofficial economies than others. Greece’s shadow economy is worth over a fifth of its total output, and Italy’s isn’t far behind, says a research by German IAW. However, the chart refers only to selected industrialized countries. And Germany is not doing much better… …

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Greece’s statistics service ELSTAT has suspended until further notice the release of flash quarterly estimates on the country’s gross domestic product because of divergences with provisional estimates, a statement issued by ELSTAT said on Monday. The move means that flash data will not be issued on Aug. 14. Nationwide quarterly …

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Greece’s GDP shrunk by 61.6 billion euros (26 percent) since 2010, the time span when three bailout memorandums with institutional creditors were signed and implemented, figures showed this week. Additionally, general government revenues decreased by five billion euros, with public sector wages, pensions and welfare benefits cut by 19.13 billion …

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Greece’s economy and debt crisis – an underrepresented tragedy watched closely by the economists of the future. As an example to be avoided. “Unprecedented – Greece is several economic tragedies rolled into one,” writes Dan Kopf, economics and markets reporter. He puts Greece’s financial crisis and economic plight in historical …

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Greece recorded the highest government debt to GDP ratio in the European Union, at 176.2 pct of GDP in the first quarter of 2017, Eurostat said on Thursday. The EU executive’s statistics service, in a report released here, said that the Greek debt fell by 2.9 percentage points compared with …

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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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The International Monetary Fund has lowered its projections on Greek growth from last fall and warned against “unreasonable forecasts” and “unjustifiable frameworks” by the country’s European creditors. In its World Economic Outlook, published on Tuesday, the Fund argued that growth in Greece this year will come to 2.2 percent against …

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Creditors representatives will return to Greece as early as possible to finalize the second review of the Greek bailout program. At a press conference after the Eurogroup meeting, Jeroen Dijsselbloem, said that Greece and creditors have reached a ‘great agreement’ in Malta. “We agreed that measures 1% of the GDP …

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Greece’s debt-ridden economy stagnated in 2016, the national statistics agency ELSTAT said in a first estimate on Wednesday, two days after quarterly data pointed to a small contraction. “GDP in volume terms recorded 0.0% annual rate of change in 2016,” ELSTAt said, adding that the figure was derived from non-seasonally …

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Greek citizens face a major tax burden, with a European Commission survey revealing that the burden climbed to 65.7 billion euros in 2016, from 64 billion euros in 2015. According to the European Commission’s figures, the tax burden increased to 37.6% of the GDP in 2016, from 36.4% In 2015 …

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