Bank of Greece

BoG chief sees signs of stagnation, calls for ‘fiscal prudence’

Bank of Greece Governor Yannis Stournaras on Monday stressed Greece's need to continue the reforms and warned against complacency.

Addressing the general assembly of the central bank Stournaras spoke of a major challenge of reform fatigue, while citing data showing stagnation and a slight decline in the country's competitiveness over the past year.

ATHEX: Rebound for index above 1,400 points

The Greek stock market rebounded on Monday, following last week's decline, with most stocks securing significant gains, led by banks.

As a result the benchmark regained the 1,400-point level, ending the day not far from the session's high. The report by the Bank of Greece, which undercut the government's growth estimate, did not seem to affect the mood of the market.

Lion’s share of foreign investment in realty

Real estate was a huge draw, again, for foreign investors in 2023, accounting for almost 1 out of every 2 euros that flowed into Greece.

The Bank of Greece reported that in 2023, capital inflows from abroad reached a record high of 2.133 billion euros for the second consecutive year, compared to 1.975 billion euros in 2022, but also 1.17 billion euros in 2021.

Greece lifts price of Golden Visa to fight housing crisis

Greece has tightened its Golden Visa rules raising the required investment to as much as 800,000 euros in a bid to help ease a housing crisis.

The successful program that has attracted thousands of Chinese launched in 2014 granting foreigners a renewable, five-year residence permit in return for a 250,000-euro property investment.

January visitors beat forecasts

January posted a great increase in the number of tourists, but also in the money they spent during their stay in Greece, in what is usually a quiet month for tourism.

According to Bank of Greece data, the annual increase in receipts was 27% and visitors 16% - much higher than the already strong trend of 2023 but also the positive forecasts for 2024 (+10% in arrivals).