Half a billion lost in 15 days

Half a billion euros was lost in just 15 days in the second half of March by businesses that were forced to shut due to the measures to contain the spread of the coronavirus - and that amount only concerns companies with double-entry books that offer data on a monthly basis.

The Hellenic Statistical Authority (ELSTAT) said on Tuesday that 205,984 enterprises suspended their operations. Turnover data are also discouraging for two more reasons: They point to an even worse decline in April, as until mid-March there was no lockdown, and the data show the sudden end of the economy's recovery course, as the year had started with strong growth signs in the January-February data.

ELSTAT showed that the turnover of the companies with double-entry books that suspended operations came to 560.4 million euros in March, against €1.057 billion in March 2019 - i.e. a decline of 47%....

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