Bank of Greece

The new lockdown is expected to continue to hurt the country's economic activity in the fourth quarter, and any forecasts are exceptionally difficult, as the economy hinges too much on the course of the pandemic, Bank of Greece Governor Yannis Stournaras said on Tuesday.

Residential property prices continued to edge higher over the third quarter of the year, as according to figures released by the Bank of Greece on Monday there was a 3.2% annual increase. However, the growth rate slowed for a third consecutive quarter.

Bank deposits recorded a new 2.5-billion-euro increase last month, as the economic support measures are helping to strengthen the liquidity of households and enterprises, according to data issued on Thursday by the Bank of Greece. The figures showed that deposits at the end of October amounted to €155.7 billion, up 1.7% in just one month from €153.1 billion at end-September.

Bank of Greece Governor Yannis Stournaras reiterated on Tuesday that the country's public debt remains sustainable until at least 2030, despite its increase as a ratio to the gross domestic product.

The Bank of Greece data showing a 78.2% decline in tourism revenues and a 77.2% drop in arrivals over the first nine months of the year on an annual basis practically reflect the results of the entire year, as there is no tourism traffic now due to the new lockdown.

Servicers are handling bad loans of 30.8 billion euros, Bank of Greece data showed on Tuesday, as the companies that have taken on banks' nonperforming loans increased their portfolios in the first quarter of the year by €7.3 billion.

It is by now common knowledge that there is a pressing need to change the productive model of the Greek economy.

That need has been stressed for years by economic analysts as well as in Bank of Greece reports and political parties' platforms.

Yet it always remained a dead letter.

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.

Bank deposits rose by just under 3 billion euros during the nationwide coronavirus lockdown in March and April, data published on Friday by the Bank of Greece (BoG) have shown.

Greece's government was discussing the latest economic and health safety issues relating to the Covid-19 pandemic, the appointment of the Governor of the Bank of Greece and the presentation of seven ministerial bills during a cabinet meeting though teleconference that got under way on Thursday morning.