Economy of Greece

Budget exceeds expectations

Tax revenue significantly surpassed targets in the first quarter of 2023, the Finance Ministry said on Wednesday.

In a report on the budget execution on an amended cash basis for January-March, the ministry said that tax revenue totaled €13.68 billion in the three-month period, up 12.4% from budget targets, helping the state budget to record a primary surplus of around €3 billion.

Legacy of the Cretan Renaissance

The Technical University of Crete's School of Architecture has drafted a proposal for the redevelopment of the Holy Trinity (Agia Triada) Tzagaroli Monastery, one of the most splendid monastic complexes of the Cretan Renaissance which stretches back to the 17th century. The proposal also envisages its conversion into a Patriarchal Research Foundation.

Crete’s Samaria Gorge set to reopen in May

The Samaria Gorge on the island of Crete will be ready to welcome visitors in May as the maintenance and restoration works of its main path have started, local authorities said on Tuesday. 

The work is being implemented by the Management Unit of Samaria National Park and Protected Areas of Western Crete of the Natural Environment & Climate Change Agency (NECCA). 

Upward revision of outlook

The Foundation for Economic and Industrial Research (IOBE) has upwardly revised its forecast for Greece's growth in 2023 to 2.4%, from 1.4% three months ago, following a general trend after statistical agency ELSTAT's positive data for a growth rate of 5.9% in 2022.

ATHEX: Stock index advances to 40-day high

The Greek stock market made it nine sessions of price growth in a row on Wednesday as most stocks registered moderate gains, although the main index again failed to surpass the psychologically significant 1,100-point milestone. It still climbed to a 40-day high and enjoyed the longest sequence of rising sessions in over 20 months.

ATHEX: No fasting for buyers at ATHEX

Athinon Avenue returned to action on Tuesday after a four-day recess and rewarded those anticipating its reopening with a wholesome session of growth that boosted the benchmark by over 1.7% and pushed daily turnover above 100 million euros. However, the main index once again proved not ready to clear the 1,100-point bar.