Factoring

The tender for the new concession contract for Attiki Odos is at serious risk of being completely derailed, both in terms of timetable and financial consideration, as conditions have changed drastically since the beginning of 2022, with the government requesting a reduction in toll charges.

Prime Minister Ludovic Orban said that the Government is currently drafting several state aid schemes aimed at guaranteeing factoring, leasing for the purchase of equipment and guaranteeing the discount of payment instruments. "We are in the process of drafting several state aid schemes.

Italy's BFF Banking Group announced on Thursday it will open a branch in Greece in the year's third quarter, after receiving the necessary permits from the central banks of Greece and Italy.
The group has been supporting its clients in Greece since 2017, having acquired over 100 million euros of requirements from the Greek market.

Major groups in sectors such as tourism, transport, retail commerce and infrastructure management are facing crucial decisions even though they do not have the necessary figures and information yet. Restarting in recessionary conditions, and mainly under the unprecedented health regulations, is an equation with too many unknown factors.

The measure of the progressively protected bank account for each individual or corporation with tax overdue arrears under arrangement will become active as of January 2020. This concerns debtors who have entered any payment plan and have been consistent in meeting their obligations to it.

The crucial report by the certified accountant on the state of Public Power Corporation is expected on Tuesday, along with the governing board's approval and publication of the utility's first-half financial results.

Greece has one of the most attractive programs for foreign investors to acquire property. A comparative study by Portuguese property service company Imovirtual showed that Greece's Golden Visa program for the provision of a five-year residence permit is the second cheapest in the European Union and the fifth cheapest globally.

The markets are factoring in a political change after Greece's national election in early July. The interest rates on Greek bonds are retreating. European press reports foresee a shift toward reforms. Even the social climate appears to be changing, following the recent European and local elections.

Software Group will open 200 new jobs in Bulgaria by 2021, the company said today. The company founded in Bulgaria operates on six continents and with over 150 clients in 70 countries. At present, the number of its employees exceeds 350. The expansion will be funded with the first EIB investment loan from the European Investment Bank (EIB) amounting to € 18 million.

The funding deficit is growing in the Greek economy, as there was a sharper credit contraction in April, data from the Bank of Greece showed on Tuesday.

The pace of financing Greek households and enterprises stood at -1.9 percent last month, from -1 percent in March and -0.9 percent in February.