Economy of Greece
The government and troubled Public Power Corporation are working on a plan for the privatization of the distribution network.
That is the most important asset of PPC after the Independent Power Transmission Operator (ADMIE), as it has guaranteed and regulated revenues that will definitely attract investors and is expected to be sold quickly, unlike the coal-fired plants.
The optimism of management consultants on the medium-term prospects of the Greek economy continued in the first quarter of the year, as the GRe+1 Barometer of the Hellenic Association of Management Consulting Firms (SESMA) showed a 24 percent reading in Q1, up from the 22.5 percent recorded in the last quarter of 2018 and 17.5 percent in Q1 last year.
After a difficult and turbulent 2018, the Greek stock market has been savoring its best four-month period since 1999, with only four sessions left till the end of April. The benchmark at Athinon Avenue has recorded gains of 26.92 percent since the start of the year, which is the second highest return in the world after the main bourse in China.
The decline of OTE telecom and profit taking in bank stocks saw the benchmark of the Greek bourse ease somewhat on Wednesday from Tuesday's nine-month highs, although the majority of stocks remained in the black for one more session. Reports on election handouts by the government did not help blue chips or bond prices, which also slipped from recent highs.