The Bank of Greece

Coronavirus slammed the brakes on the growth rate of residential property prices during the first quarter of the year, according to figures released last Thursday by the Bank of Greece.

The Finance Ministry's estimates about the impact of the coronavirus on the Greek economy this year are at the optimistic end of the range of projections expressed to date and near those of the Bank of Greece, according to the Stability Program Athens submitted to the European Commission last Thursday.

From now on the government will have to reach for the country's liquidity safety cushion to cover its cash requirements as a result of the reduction of state revenues and the support measures for households and enterprises.

After another record year for tourism in 2019, revenues are expected to take longer to recover from this year's coronavirus pandemic than arrival numbers, according to a special report released on Thursday by the Institute of the Greek Tourism Confederation (INSETE). That recovery will also be uneven for Greek tourism in terms of regions and domains, it added.

Foreign analysts appear more pessimistic than the Bank of Greece's baseline scenario for 0 percent growth this year due to the coronavirus epidemic, saying a recession appears inevitable, especially in the first half of the year, mainly due to tourism.

Greece's current account deficit widened in January compared with the same month a year earlier, the Bank of Greece said on Friday.

Central bank data showed the deficit was 1.29 billion euros ($1.39 billion) from a deficit of 1.18 billion euros in January 2019.

[Reuters]

The Hellenic Bank Association on Tuesday offered companies hurt by the spread of the coronavirus a six-month suspension of their corporate loan repayments, with an emphasis on the sectors of tourism, transport, food service and retail commerce.

Kiki Dimoula, an acclaimed Greek poet and Academy of Athens member, has died at the age of 88.

The cause was a heart attack, the hospital where she spent her last 20 days announced. She died a little before 6 p.m. Saturday, the announcement says.

Greece's current account deficit shrank in December 2019 compared with the same month a year earlier, the Bank of Greece said on Thursday.

Central bank data showed the deficit was 0.54 billion euros ($582.98 million), down from 1.514 billion euros in December 2018. Tourism revenues increased to 289 million euros from 272 million in the same month in 2018.

Provisional figures from the Bank of Greece showed a 13 percent increase in travel receipts over the first 11 months of 2019, to 17.86 billion euros, against 15.81 billion a year earlier.