Economy of Greece
Greek bonds are already on A rating for markets
The markets "rate" Greek bonds in the "A" category, five notches higher than their current average rating of "BBB-" that is in the lowest category of the investment grade, as the Bank of Greece pointed out on Friday.
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State is one step before its full divestment from banks
The Hellenic Financial Stability Fund (HFSF) is one step before the complete divestment from Greece's four systemic banks, after the successful sale of all the shares it owned in Piraeus Bank.
Consumption kept 2023 growth at 2%, as investments lagged
The growth rate of the Greek economy was set at 2% during 2023, well below government estimates (2.4%) and those of the IMF (2.5%), OECD (2.4%), the European Commission and IOBE (2.2%).
Central bank expects growth to pick up in 2024 and ’25
Τhe Bank of Greece predicts an acceleration of the growth rate of the Greek economy for 2024 and 2025, followed by a slight decline in 2026.
In a report titled "Note on the Greek economy" published on Friday, the growth rate in 2023 is expected to come to 2.4%, accelerating marginally to 2.5% in 2024 and 2025, before dropping down to 2.3% in 2026.
Vote of confidence in the country by Telekom
German telecommunications giant Deutsche Telekom has given a vote of confidence in the Greek economy and its prospects.
As pointed out by Dominique Leroy, the member of Telekom's Board of Directors responsible for Europe, during a meeting with Greek reporters at this year's MWC in Barcelona, Telekom continues to steadily invest in Greece and its prospects through OTE Group.
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Illegal economy nearly halved
The illegal economy recorded a significant decline in Greece from 2013 to 2021, excluding the year of the pandemic in 2020, according to a report by researchers at the International Monetary Fund.
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ATHEX: Minor gains extend rally of benchmark
The Greek stock market managed on Tuesday to maintain the gains its had secured on Monday and added some more for its benchmark, which climbed to yet another 13-year record high, even though the mid-cap index and the majority of stocks headed south. The local bourse continues to show resilience and is expected to continue down the same path for the next few weeks at least.
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ATHEX: Benchmark reaches new 13-year peak
The Greek bourse may have seen a decline in daily turnover on Monday, owing to the US holiday that kept the New York stock market closed, but most stocks posted significant gains, leading the benchmark to a new 13-year high. Growth was evenly spread across the market, confirming that investors, especially from abroad, are seeking out opportunities in the lower capitalizations too.
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Another €300 million from EIB to Greece
The European Investment Bank (EIB) announced two new loans to Greek entities on Friday in Athens, worth more than 300 million euros between them.
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Exhibition industry’s total annual turnover exceeds 1 bln euros
Exhibitions are a significant activity for the Greek economy, with their direct and indirect revenues amounting to over 1.06 billion euros in 2022 and their contribution toward Greece's gross domestic product reaching €499 million, according to a survey commissioned and presented on Wednesday by the Greek Exhibition Industry Association (SOKEE) in Athens