Thursday , February 22 2024
Home / Tag Archives: GDP

Tag Archives: GDP

Bank of Greece governor predicts GDP growth over 6% in 2021

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 …

Read More »

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, …

Read More »

Greece’s debt climbed to 181.1% of GDP in 2018, says Eurostat

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 …

Read More »

Greece’s budget records a primary surplus 4.4% of GDP in 2018

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 …

Read More »

Greece’s primary budget surplus in 2017 at 4.14% of GDP

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 …

Read More »

IMF revises projections for growth, primary surplus and unemployment in Greece

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 …

Read More »

All bitcoins combined worth more than Greece & New Zealand

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 …

Read More »

EU closes Excessive Deficit Procedure for Greece as finances stabilized

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 …

Read More »

Greece’s shadow economy is 21.5% of GDP, says German IAW

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… …

Read More »

ELSTAT suspends quarterly flash estimates on GDP; media speculate

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 …

Read More »

ELSTAT: Greece’s GDP shrunk by 26% since 2010, public debt surged

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 …

Read More »

IMF lowers Greece GDP growth projection to 2.2 percent

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 …

Read More »

Greek Statistics Revised – Recession Deeper than Estimated

Revising the  Statistics data seems to turn into a hobby in Greece. Two days after the announcement of the draft budget -which was based on old data – , the Greek Statistics Authority (ELSTAT) revised the Gross Domestic Product. Recession was deeper than estimated. Why bother with balance sheets and …

Read More »