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Economy

PM Mitsotakis Urges People to Get Coronavirus Vaccine Following Thessaloniki Visit

Greek PM Kyriakos Mitsotakis visited the coronavirus-ravaged port city of Thessaloniki in Central Macedonia on Saturday, where he urged people to get the coronavirus vaccine as soon as it becomes available. ''It'll be free-of-charge, it will not be mandatory but...

Greek PM Holds Virtual Meeting with Greeks Who Left to Work Abroad

Addressing the country's notorious brain drain problem, Greek Prime Minister Kyriakos Mitsotakis held a virtual meeting with Greeks who left their native country to work abroad during the financial crisis. During the meeting, PM Mitsotakis stressed that Greece is improving...

Greek Hotels Plead For Help Amidst Despair Over TUI Debt

Greek hotel owners are facing huge losses this year as Tui AG, the largest leisure, travel and tourism company in the world, is deferring the payment of monies due to them this year — until March of 2021. The Anglo-German...

Greece Receives Boosted Credit Rating from Moody's

Moody's, the bond credit rating agency, upgraded Greece's credit rating on Friday, giving the country's market a boost amidst the Covid-19 pandemic. The country's rating went from a B1 to a B3, signaling the possibility of economic recovery in the...

Greece's Growth Rate to Reach 7.5% in 2021 According to New Projections

Finance Minister Christos Staikouras and Alternate Minister Theodoros Skylakakis on Monday brought a draft for the 2021 state budget before Parliament. The plan envisages a robust economic growth rate of 7.5 percent for the next year, and features a series...

Greece's National Bank Reports 457-Million Euro Profit in First Half of 2020

Greece's National Bank recently reported impressive profits despite the worldwide economic downturn caused by the coronavirus pandemic this year. The National Bank Group announced that its after-tax profits totaled 457 million euros in the first half of 2020, up from...

Calamos Expresses Cautious Optimism in New Economic Outlook Analysis

Over recent months, Calamos Investments has expressed cautious optimism for a V-shaped economic recovery, and an expectation that the downturn would be severe but short-lived.

Greek Economy to Receive Enormous Boost From EU Recovery Plan

  The Greek economy will receive a major boost over the coming years from the historic European Union decision to create a recovery fund, titled the "Next Generation EU" plan, agreed upon earlier this month, according to Bank of Greece...

Greece Records 6-Billion Euro Primary Deficit for First Half of 2020

  The Greek state budget recorded a primary deficit of 6.101 billion euros in the first half of 2020, from a budget target for a primary surplus of 313 million euros and after a primary surplus of 381 million in...