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Cyprus First, Greece Third in Reception of European Social Funds for 2018

The Republic of Cyprus ranked first, and Greece third, among EU member states in  cumulative payments made from the European Social Fund in 2018. This disclosure comes from a statement made by the Cypriot Labor, Welfare and Social Insurance...

Greece's Public Debt on the Rise

Greece’s public debt reached €334.988 billion in the third quarter of 2018, an increase of €21.493 billion over that of the same quarter in 2017, the Greek National Statistical Authority (ELSTAT) said on Monday. The Greek statistical authority noted that...

Standard & Poor’s Keeps Greece’s Credit Rating to B+

Standard & Poor’s (S&P) rating agency kept Greece’s credit rating at ''B+'' on Friday, following an upgrade made in July 2018, when the agency increased the country's rating by one notch. According to S&P, the outlook for the Greek economy...

Greece Among Few Countries To Raise Taxes Over Last Decade

According to new data published by the Organization for Economic Cooperation and Development (OECD) on Tuesday, Greece was among the nine countries out of all 36 Organization members to raise business taxes during the last decade. The nominal tax rate...

Greece's Private Sector Bank Deposits Drop for Second Month

Greece's private sector bank deposits dropped for two consecutive months, in October and November of 2018, according to data released by the central bank of Greece on Thursday. The decrease represented 90 million euros in total, and stands in stark contrast to...

Greek Inflation Rises by One Percent in November

Inflation, or the adjusted index of consumer prices, showed an increase of 1.1 percent in November over levels of a year ago, according to Greek Statistical Authority (ELSTAT) data  published on Monday. The average annual inflation rate for the period...

Prosecutor Subpoenas 10 Suspects in Folli Follie Scandal

Ten individuals were summoned on Monday by a Greek prosecutor who is investigating the Folli Follie scandal. As reported by Greek daily Kathimerini, the suspects were called to testify, and are facing charges of fraud and money laundering. Following the prosecutor's...

Tsipras Aims to Lure Investments from Arab Countries

Greek Prime Minister Alexis Tsipras welcomed business delegations from the Arab world at the opening of the 3rd Euro-Arab Summit, held in Athens. In his speech, Tsipras paid tribute to all those who recognize the important investment opportunities offered by...

ELSTAT: Greek GDP Rises by $4.2 Billion in 2017

According to the final figures for 2017 released by Greece’s Statistics Authority (ELSTAT), Greek GDP increased by €3.75 billion ($4.20 billion). This increase is attributed to economic growth in Greece during 2017. Specifically, the Greek GDP rose from €176.48 billion...

'No Agreement For Cancellation of Pension Cuts' Greek Government Source Says

A high-ranked source from within the Greek Government has denied the claims that Athenian and Macedonian News Agency's report made regarding an alleged deal between the Greek Authorities and the European Institutions regarding the issue of the upcoming pension cuts...