Finance

A recent study by the Economics Research Center at the University of Cyprus has brought to light issues regarding financial literacy.

The PAMEX Local Investment Finance Facility (PLIFF), together with the French Ministry of Foreign Affairs and the Hellenic-Spanish Chamber of Commerce, successfully organized a side event at the Our Ocean Conference which took place in Athens last week, titled "Financing Ocean Economy and Political Mobilization within the Mediterranean Region."

A decade ago, Greece was in the throes of a devastating debt crisis marked by years of austerity, hardship and unrest. Now, officials and investors say 2024 could be the year its rebound is finally complete.

The Greek economy is forecast to grow nearly 3% this year, approaching its pre-crisis size of 2009 and far outpacing the euro zone average of 0.8%.

The tax authorities are increasing the burden on owners choosing to rent out their property short-term.

The number of properties listed for sale significantly outweighs those available for rent in areas with substantial housing inventory, data show, indicating a reluctance of homeowners to rent out their properties.

The trend, according to data from the Spitogatos.gr website, is most notable in the western suburbs of Athens, known for their affordability to a broad demographic.

When a law abolishing the Workers' Housing Organization was passed in 2012 as part of a package of stringent austerity measures, Greece gave up the last tool of state intervention in the real estate market.

The Treasury and Finance Ministry has started to collect information from tenants in order to accurately determine rental income.

The ministry, which sent letters to tenants asking for a meeting about rents, has now told tenants, "You do not need to come to the ministry, you can fill out a form online."

The state budget balance for January-December of 2023 presented a deficit of 3.76 billion euros, against a target for a deficit of €8.34 billion that has been incorporated into the 2024 budget introductory report, and a deficit of €11.65 billion for 2022.

Short-term rental hosts declared 33% more revenues to the tax authorities in the first 10 months of last year than they did the year before, official data have shown.

The percentage of Bulgarians resorting to fast credit services has surged to 23% in 2023 from 15% in the previous year, as per findings from a nationwide study conducted by the Kantar consulting firm. The report, disclosed by non-banking lender Easy Credit, highlights the growing trend of utilizing these services.