Bank of Greece

The Greek current account deficit fell by 3 billion euros in the January-February period this year compared with the corresponding period in 2022, to stand at €1.5 billion, the Bank of Greece said on Thursday. 

Real estate investment companies expect pressure on the housing market for 2023, especially on properties of lower specifications, but also a continuation of the upward trend of green office buildings and logistics infrastructures.

The Bank of Greece, meanwhile, appears more optimistic, especially for luxury properties, in its annual report published a few days ago.

Whatever the outcome of the Greek general elections in May, the next day will be difficult - primarily for the economy and despite the current euphoria. As the governor of the Bank of Greece, Yannis Stournaras, said in a television interview on April 10, "the next government will face a more difficult macroeconomic environment than the previous one."

Foreign direct investment (FDI) hit a 20-year high in 2022, reaching 7.22 billion euros, according to Bank of Greece data, but to a large extent this concerns takeovers or privatizations of already existing businesses, as well as the purchase of real estate.

As summer approaches and cruise ships have begun to make their appearance en masse in Greece, the experts who speak of a disproportionately high negative impact on the environment, infrastructure and destinations in relation to the revenue they leave are increasing.

Bank of Greece Governor Yannis Stournaras on Friday set the safeguarding of the credibility of economic policy as the main goal ahead of the elections, and in this context called on the political forces to show "prudence and responsibility" and support "the national economic goals, in order to maintain the climate of confidence in the prospects of the Greek economy."

The Bank of Greece has raised its economic growth forecast for Greece this year, according to the central bank's governor, Yannis Stournaras. Presenting the bank's annual report on Friday, Stournaras said that the Greek economy is expected to grow by 2.2% in 2023, and the inflation rate is set to fall to 4.4%, with the state budget expected to record a primary surplus of 0.7%.

The eurozone is near the end of the tighter monetary policy cycle, Bank of Greece Governor Yannis Stournaras said on Wednesday.

Addressing a conference organized by the Federation of Insurance Companies of Greece, the central banker said Greece was also close to obtaining investment grade.

Giorgos Houliarakis was perhaps the most popular member of the SYRIZA government among his European Union peers. He was one of the very few people who focused on the real numbers of the economy and realistic data.

Prominent professor and Hellenist Roderick Beaton took the oath to become a Greek citizen at a ceremony held at the Bank of Greece on Tuesday.