Specifically, from Jan. to Aug. 2024, the central government recorded a cash surplus of 1.368 billion euros, compared to a deficit of 964 million euros in the same period of 2023.
Another increase in tax values to match current market levels would likely trigger a further spike in real estate prices, exacerbating the already severe housing problem.
Looking at the broader picture, the average index for the period from January to April 2024 showed a solid 5.3% rise compared to the same period in 2023.
Nevertheless, the Economic Sentiment Indicator, reflecting public perception of the economy, has turned positive after the pandemic-induced downturn from March 2020 to April 2021, this positive shift has stabilized consumption, with retail trade gaining momentum since May 2022.
In a bid to sustain the construction sector, the Value Added Tax (VAT) on newly constructed properties will maintain its current status quo for an additional year, persisting until the conclusion of 2025
According to the market's average estimate, the real GDP in Greece is estimated to have strengthened by 2.3% in 2023, while a growth slowdown to 2.0% is projected for 2024.
Regarding collective labor agreements it is worthy to notice that increases to minimum wages has not affected the so-called ‘middle-wages’, with 80% of employees not having seen any pay rise
According to data from Circana (formerly IRI) for the ten-month period of January-October 2023, the largest sales volume increase was recorded in non-alcoholic beverages and snacks at +4.4%, and alcoholic beverages at +4.3%
The Public Revenue (AADE) data showed there were currently 1,064 tax exemptions costing 15.557 billion euros to the state budget
Greece’s state budget posted a primary surplus of 5.8 billion euros, on a cash basis, in the January-October 2023 period
Specifically, Greece’s rating was raised to Ba1 from Ba3, with stable outlook
The Greek Parliament’s Budget Office Greek on Tuesday forecast that the country’s economy will grow by 2.2 percent this year and next year, in 2024
He also emphasized this week’s high-profile warnings by Bank of Greece (BoG) Yannis Stournaras
According to reports, the issue will come in the “near future”, without a specific date cited
Peet spoke in the wake of a particularly critical cover story focusing on Turkey in the recent Economist issue
On an amended cash basis, the state budget posted a deficit of 11.680 billion euros in 2022, down from a budget target for a deficit of 13.4 billion euros
The first test comes on Jan. 27, when Fitch will issue its latest credit rating for the country
Διαχειριστής - Διευθυντής: Λευτέρης Θ. Χαραλαμπόπουλος
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