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Tag Archives: Macro data
All key budget items outperformed targets in November
MoF final data (on a modified cash basis) on Greek budget execution (released on December 24) depicted a softer performance in November compared to that of the previous month, yet all key budget items continued to outperform targets.
Budget balance continued to outperform targets in November
MoF preliminary data (on a modified cash basis) on Greek budget execution (released on December 10) depicted a softer performance in November compared to that of the previous month, yet all core budget items continued to outperform targets.
Greek GDP contraction at 6.9% y-o-y in Q3’12
Latest Hellenic Statistical Authority (ELSTAT) data show that non-seasonally-adjusted Q3’12 GDP shrank 6.9% y-o-y, 0.3pp better than the initial figure of 7.2% released on November 14. According to ELSTAT, the difference is due to September monthly data for imports and … Continue reading
Further improvement of general government balance in October
Latest MoF data show that general government cash deficit narrowed by 53.4% y-o-y to €9,383m in 10M’12 from €20,114m last year, with primary balance recording a surplus of €2,312m from deficit of €4,244m in 10M’11.
Key highlights of BoG interim report on Monetary Policy
BoG released on December 3 its interim report on Monetary Policy. We summarize below the key highlights: The latest developments in Greece and the EU send out positive signals. Greece is mobilising both at home and abroad to make up … Continue reading
Posted in Greek banks, Greek economy
Tagged Bank recapitalisation, Greek banks, Greek budget, Greek deposits, Greek economy, Macro data
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Greek banks’ Eurosystem funding slightly eased in October
Latest BoG data depict that Greek banks’ Eurosystem funding slightly eased in October with a c€23bn shift from ECB to ELA funding. In particular, ECB funding dropped by €23.7bn or 78.5% m-o-m to €6.5bn in October, while BoG liquidity provided … Continue reading
Posted in Greek banks, Greek economy
Tagged Greek banks, Greek deposits, Greek economy, Liquidity, Macro data
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Greek credit contraction slightly accelerated in October
According to latest BoG data, credit contraction in the Greek market slightly accelerated to 4.8% y-o-y in October from 4.5% in September, with balances reaching €230.7bn corresponding to 117.4% of GDP.
Posted in Greek banks, Greek economy
Tagged Greek banks, Greek credit, Greek economy, Macro data
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Greek budget balance continued to outperform targets in October
MoF final data (on a modified cash basis) on Greek budget execution confirmed preliminary figures (released on November 12) depicting a significantly improved performance in October compared to that of September with budget and primary balance recording a surplus for … Continue reading
Greek central government debt remained flat q-o-q at €303.5bn in Q3’12
According to the latest debt bulletin released by MoF today, central government debt (excl. debt guaranteed by the central government) stood at €303.51bnat the end of Q3’12 unchanged from the previous quarter’s figure of €303.53bn.
Greek C/A deficit substantially dropped in 9M’12
According to latest BoG data, C/A balance showed a surplus in September – for third month in a row – at €775m from deficit of €1,069m last year, reflecting a decrease in trade deficit by €700m or 34.1% to €1,351m, … Continue reading
Greek GDP contracted 7.2% y-o-y in Q3’12
According to flash estimates, released by Hellenic Statistical Authority (ELSTAT), recession accelerated in Q3’12 with non-seasonally-adjusted GDP (at constant prices) contracting 7.2% y-o-y in Q3’12 from 6.3% y-o-y in Q2’12.
Greek budget revenues rebounded in October; Budget balance continued to surprise on the upside
MoF preliminary data (on a modified cash basis) on Greek budget execution (released on November 12) depicted a significantly improved performance in October compared to that of September with monthly budget and primary balance recording a surplus for second time … Continue reading
EC autumn forecasts on Greek economy
According to EC autumn forecasts released today, Greek GDP contraction is expected to extend into 2013 to 4.2% from 6.0% in 2012. EC latest estimates are worse than its previous (spring) projections for 2012, when GDP was expected to slip … Continue reading
Slight improvement of Greece’s general government balance in September – Strong performance in 9M’12
Latest MoF data show that general government deficit, according to cash data, eased by 48.3% y-o-y to €9,689m in 9M’12 from €18,744m last year, with primary balance recording a surplus of €1,249m from deficit of €4,146m in 9M’11.
Key highlights of Greece’s 2013 budget and 2013-16 MTFS
MoF unveiled yesterday the 2013 budget and the 2013-16 Medium-Term Fiscal Strategy (MTFS). The key difference of MoF current forecasts compared to those included in the draft budget tabled to parliament on October 1 involves a deeper recession in 2013 … Continue reading
Posted in Greek economy
Tagged Greek budget, Greek economy, Macro data, Privatisations
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Greek credit contraction slightly decelerated in September
Latest BoG data show that credit contraction in the Greek market slightly decelerated to 4.5% y-o-y in September from 4.8% y-o-y in August, with balances reaching €231.8bn corresponding to 114.3% of GDP.
Posted in Greek banks, Greek economy
Tagged Greek banks, Greek credit, Greek economy, Macro data
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September revenues resumed a negative trend, yet budget balance outperformed targets
As he had previously noted, MoF had revised FY’12 – and accordingly monthly – budget targets in the September preliminary budget execution bulletin (released on October 11), incorporating its latest forecasts included in the 2013 draft budget tabled to parliament … Continue reading
Revision of historical general government deficit and debt data
Hellenic Statistical Authority (ELSTAT) and Eurostat announced today the revised general government (gg) deficit and gross debt figures for 2008-11. It is reminded that statistical services’ previous data (first estimates for 2011) were released last April.
Revenues resumed a negative trend in September; Budget balance still outperforms revised targets
In the September budget execution bulletin, MoF revised FY’12 – and accordingly monthly – budget targets incorporating its latest forecasts included in the 2013 draft budget tabled to parliament on October 1.
IMF latest forecasts and statement on Greek economy
In its latest edition of World Economic Outlook and Fiscal Monitor, IMF sees Greek GDP contracting 6.0% in 2012 and 4.0% in 2013, while unemployment rate is expected to substantially rise from 17.3% in 2011 to 23.8% in 2012 and … Continue reading
