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Greek Economy

EU Says Greek Workers Fared Better than Others in Second Quarter of 2020

Greece was one of the European countries that has been proven to be most successful in protecting jobs during the second quarter of 2020, when the labor market was so severely tested throughout the European Union by lockdowns to...

Greece Expected to Return to Primary Surpluses in 2022

Greece will return to primary surpluses beginning in 2022 after reporting higher primary deficits and public debts in 2020, the International Monetary Fund said in its "Fiscal Monitor Report," released on Wednesday. The IMF based its 2020 forecasts on the...

Greek Economy Contracts a Record 15.2% in Second Quarter of 2020

The Greek Statistical Authority (ELSTAT) announced on Thursday that the Greek economy  contracted by 15.2% in the second quarter of 2020, a record which even surpasses the recession during the peak of the economic crisis in the years 2011-12. ELSTAT...

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...

One in Two Greek Citizens Cannot Afford One Week of Vacation

One in two Greek citizens cannot afford even one week of vacation this summer due to the recession caused by the coronavirus and the repercussions of the 10-year-long economic crisis, as the Hellenic Statistical Authority (ELSTAT) data shows. Along with the...

Greek Economy to Contract by 9 Percent in 2020, EU Report Says

The Greek economy is projected to contract by 9.0 percent this year; however, growth projections for 2021 foresee growth of 6.0 percent, the European Commission said in its Summer Economic Forecast report released on Tuesday. The EU executive body said...

Bank of Greece Forecasts Zero Growth for 2020

The Greek economy will fall to zero growth this year while it will show a significant divergence from fiscal targets for the year, the Bank of Greece said in its annual report on the Greek economy, presented on Friday. The...

Greece to Cut Taxes and Offer Incentives for Large Investments

The Greek government plans to offer tax relief to households, to cut business taxes and offer incentives to lure wealthy individuals to change their tax residence to the country as part of a new bill which opened for public...

US Secretary of Commerce Meets Greek PM to Discuss Investment

The many investment opportunities offered by Greece and efforts to achieve closer cooperation between Greece and the US in the trade sector dominated a meeting between Prime Minister Kyriakos Mitsotakis and US Secretary of Commerce Wilbur Ross at Maximos...

Greek Economy Grew by 1.9% During Second Quarter of 2019

The Greek economy grew by 1.9 percent during the second quarter of 2019, compared to the corresponding period in 2018, the Greek Statistical Authority (ELSTAT) announced on Wednesday. The statistics service also announced that Greek GDP rose 0.8 percent in...