Bank of Greece

'Optimistic' Finance Ministry scenario sees recession at 4.7 pct

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.

Greek private sector bank deposits up in March for second month in a row

Greek private sector bank deposits rose in March for the second month in a row, central bank data showed on Wednesday.

Business and household deposits increased to 145.08 billion euros ($157.44 billion) from 142.24 billion in February, Bank of Greece data showed.

Current account gap widens in February, tourism revenue rises

Greece's current account balance showed a larger deficit in February compared to the same month last year, on the back of a wider trade gap and a deteriorated balance in the primary income account, the Bank of Greece said on Tuesday.
Central bank data showed the deficit at 1.138 billion euros ($1.23 billion) from a deficit of 1.015 billion euros in February 2019.

Stournaras aims to shore up embattled banking system with 10bn euros in liquidity

As the end of the lockdown is already in sight in Greece the day after the coronavirus outbreak is already stirring extreme concern in the government, among financial players and analysts, and not least in the Bank of Greece with the governor of the central bank, Yannis Stournaras, scampering to come up with 10bn euros to bolster the Greek banking system and avert yet another bank crisis.

INSETE: Tourism revenues to get worse before getting better

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.