Tag #Greek Economy

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kathimerini.gr

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Apr 9, 10:13

Greek Economy to Grow 2.3% in 2025 Despite US Tariff Risks

The Bank of Greece's annual report forecasts 2.3% Greek economic growth in 2025 despite US tariff risks potentially causing a global trade war and impacting investment, while highlighting the need for continued reforms to boost competitiveness and attract foreign investment.

Greek Economy to Grow 2.3% in 2025 Despite US Tariff Risks

The Bank of Greece's annual report forecasts 2.3% Greek economic growth in 2025 despite US tariff risks potentially causing a global trade war and impacting investment, while highlighting the need for continued reforms to boost competitiveness and attract foreign investment.

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How might the indirect effects of a global trade war, triggered by US tariffs, affect the Greek economy and its growth trajectory?

Increased global uncertainty, stemming from US tariffs, poses risks to the Greek economy, potentially impacting investment and growth through reduced demand for Greek goods and services. The report highlights the difficulty in quantifying these impacts due to various unpredictable factors.

kathimerini.gr

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Apr 9, 10:13

Masoutis to Acquire Anedik Kritikos, Reshaping Greek Supermarket Landscape

Masoutis will acquire Anedik Kritikos, a Greek supermarket chain, creating a €2 billion turnover entity and reshaping the Greek grocery market by 2026; this follows a period of smaller acquisitions and reflects broader industry trends towards franchising and smaller stores.

Masoutis to Acquire Anedik Kritikos, Reshaping Greek Supermarket Landscape

Masoutis will acquire Anedik Kritikos, a Greek supermarket chain, creating a €2 billion turnover entity and reshaping the Greek grocery market by 2026; this follows a period of smaller acquisitions and reflects broader industry trends towards franchising and smaller stores.

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How has the post-pandemic economic climate influenced the recent merger and acquisition activity in the Greek supermarket sector?

The Masoutis-Anedik Kritikos merger reflects broader trends in the Greek supermarket sector: increased franchising and the rise of smaller sales points. This consolidation is likely a response to economic pressures, such as rising operational costs and decreased sales volumes following the pandemic and energy crisis.

kathimerini.gr

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Mar 29, 10:10

Greece's February Job Market Shows Strong Growth

In February 2024, Greece added 23,945 jobs, reversing months of losses, with tourism and hospitality driving nearly one-third of new positions; this positive trend continues a two-month period with a net increase of 8,495 jobs, the third best in 24 years; however, Capital Economics predicts that Gre...

Greece's February Job Market Shows Strong Growth

In February 2024, Greece added 23,945 jobs, reversing months of losses, with tourism and hospitality driving nearly one-third of new positions; this positive trend continues a two-month period with a net increase of 8,495 jobs, the third best in 24 years; however, Capital Economics predicts that Gre...

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What is the key employment trend revealed in the February 2024 data for Greece, and what are its immediate implications?

In February, Greece saw a significant increase in employment, with 23,945 new jobs created—a stark contrast to previous months of net job losses. The tourism and hospitality sectors drove this growth, accounting for nearly one-third of new positions.", "This turnaround follows four months of declining employment and coincides with the start of the tourist season. Full-time contracts constituted just over 52% of new hires.", "The positive trend continued into the January-February period, showing a net increase of 8,495 jobs—the third-best performance in 24 years. Most new positions were filled by office workers, waiters, teachers, unskilled laborers, and cooks.

kathimerini.gr

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Mar 25, 19:19

Greek Business Sales Surge €15.5 Billion in 2024

Driven by consumption, high prices, and inflation, Greek businesses saw a €15.5 billion sales increase in 2024; real estate management, retail, and hospitality led the growth, while the energy sector experienced a €6.01 billion decline.

Greek Business Sales Surge €15.5 Billion in 2024

Driven by consumption, high prices, and inflation, Greek businesses saw a €15.5 billion sales increase in 2024; real estate management, retail, and hospitality led the growth, while the energy sector experienced a €6.01 billion decline.

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Which sectors experienced the most significant sales growth and decline in 2024, and what factors contributed to these trends?

This surge follows a 2020 downturn where only 23 out of 87 economic sectors saw sales growth. The 2024 increase marks the highest total in the 2019-2024 period, exceeding the 4.1% growth from 2023.

kathimerini.gr

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Mar 22, 10:10

Greek Construction Stock Soars on Positive Outlook

Greek financial analysts predict a 50% increase in Avax's stock value due to a €3 billion project backlog, potential new contracts worth €10 billion, and €300 million in projected free cash flow from debt restructuring; Intrum's restructuring nears completion, while a tender for 125 electric buses i...

Greek Construction Stock Soars on Positive Outlook

Greek financial analysts predict a 50% increase in Avax's stock value due to a €3 billion project backlog, potential new contracts worth €10 billion, and €300 million in projected free cash flow from debt restructuring; Intrum's restructuring nears completion, while a tender for 125 electric buses i...

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How does the debt restructuring of Intrum and the delay in the electric bus tender affect the overall Greek economic climate?

Positive forecasts for Greek construction firms are driven by substantial project backlogs and debt restructuring efforts. Avax, for example, benefits from a €3 billion backlog, potential new contracts worth €10 billion, and a debt restructuring generating €300 million in free cash flow. This demonstrates a trend of increased financial stability and growth potential within the sector.

kathimerini.gr

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Mar 17, 13:15

Mitsotakis Announces Tax Cuts or Increased Investment Following Moody's Upgrade

Greek Prime Minister Kyriakos Mitsotakis visited the Ministry of Finance on Monday, following a Moody's upgrade to investment grade, announcing plans to return increased government revenue to citizens via tax cuts or public investment while maintaining fiscal stability and emphasizing the continued ...

Mitsotakis Announces Tax Cuts or Increased Investment Following Moody's Upgrade

Greek Prime Minister Kyriakos Mitsotakis visited the Ministry of Finance on Monday, following a Moody's upgrade to investment grade, announcing plans to return increased government revenue to citizens via tax cuts or public investment while maintaining fiscal stability and emphasizing the continued ...

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How does the Moody's upgrade influence the government's economic strategy?

Mitsotakis's visit follows Moody's upgrade of Greece's credit rating to investment grade, signifying improved fiscal health and reduced tax evasion. The government plans to use increased revenue to benefit citizens through tax cuts or public investment, maintaining fiscal stability as a cornerstone of economic policy. The emphasis on rapid utilization of Recovery Fund resources continues.",

kathimerini.gr

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Apr 9, 10:13

Greece Faces Fiscal Constraints on 2026 Tax Cuts

Greece's 2026 tax cut plans face significant limitations due to EU fiscal commitments and the heavy reliance of the national budget (60% in 2023) on VAT and personal income tax, restricting the scope for substantial reductions to a few hundred million euros.

Greece Faces Fiscal Constraints on 2026 Tax Cuts

Greece's 2026 tax cut plans face significant limitations due to EU fiscal commitments and the heavy reliance of the national budget (60% in 2023) on VAT and personal income tax, restricting the scope for substantial reductions to a few hundred million euros.

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What are the main obstacles preventing Greece from implementing significant tax cuts in 2026?

Greece faces constraints on significant tax cuts in 2026 due to EU commitments and the high reliance of its budget on VAT and personal income tax. The government is limited to a few hundred million euros for tax adjustments next year, hindering substantial changes to personal income tax.

kathimerini.gr

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Apr 1, 10:17

Masoutis to Acquire Kriticos, Expanding in Attica

Masoutis, a Northern Greek supermarket chain, announced a non-binding agreement to acquire Kriticos, a supermarket chain with 450 stores and €780 million in 2024 sales, expanding Masoutis's presence in Attica and Southern Greece and potentially boosting its turnover to nearly €2 billion by 2026.

Masoutis to Acquire Kriticos, Expanding in Attica

Masoutis, a Northern Greek supermarket chain, announced a non-binding agreement to acquire Kriticos, a supermarket chain with 450 stores and €780 million in 2024 sales, expanding Masoutis's presence in Attica and Southern Greece and potentially boosting its turnover to nearly €2 billion by 2026.

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How will this merger affect Masoutis's market position and overall sales?

This acquisition merges two major supermarket chains, enhancing Masoutis' market share and positioning it among the top three in Greece's supermarket sector. Kriticos, with 450 stores and €780 million in 2024 sales, strengthens Masoutis's existing Attica presence, adding to its 58 existing sales points.

kathimerini.gr

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Mar 27, 22:11

Greece to Use Tax Revenue and Defense Spending to Fund Tax Cuts

The Greek government aims to utilize €2 billion in reduced tax evasion and potential defense spending exemptions to fund tax cuts and public investments in 2026 (€1.5 billion) and possibly 2025 (€500 million), though off-budget spending currently exceeds targets.

Greece to Use Tax Revenue and Defense Spending to Fund Tax Cuts

The Greek government aims to utilize €2 billion in reduced tax evasion and potential defense spending exemptions to fund tax cuts and public investments in 2026 (€1.5 billion) and possibly 2025 (€500 million), though off-budget spending currently exceeds targets.

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What immediate impact will the combination of increased tax revenue and potential defense spending exemption have on the Greek government's budget?

The Greek government plans to use increased tax revenue and a potential exemption for defense spending from the Stability Pact to fund tax cuts and other potential benefits, starting possibly this year and definitely in 2026. A €1.5 billion euro budget is projected for 2026, and €500 million for 2025. However, existing off-budget spending and increased needs for the Public Investment Program already exceed spending targets.

kathimerini.gr

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Mar 25, 22:11

Greece to revise income tax brackets in 2026

The Greek government plans to revise its income tax brackets in 2026, allocating a few hundred million euros to reduce high tax rates, particularly for middle and high-income earners, while aiming to boost real income and reduce disincentives for high-paying jobs, affecting approximately 8.8 million...

Greece to revise income tax brackets in 2026

The Greek government plans to revise its income tax brackets in 2026, allocating a few hundred million euros to reduce high tax rates, particularly for middle and high-income earners, while aiming to boost real income and reduce disincentives for high-paying jobs, affecting approximately 8.8 million...

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What are the primary goals and challenges of the Greek government's planned revision of the income tax brackets in 2026?

The Greek government plans to revise its income tax brackets in 2026, aiming to reduce high tax rates, particularly for middle and high-income earners. This involves allocating a few hundred million euros to achieve economic and political objectives, including boosting real income and reducing disincentives for high-paying jobs. The changes are expected to affect approximately 8.8 million taxpayers.

kathimerini.gr

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Mar 17, 10:10

Mitsotakis to Visit Finance Ministry Following Economic Upgrades

Greek Prime Minister Kyriakos Mitsotakis will visit the Ministry of Finance on Monday to discuss the recent economic upgrades by Moody's and DBRS Morningstar, driven by fiscal achievements, reduced debt, and strong growth, while the new finance minister faces challenges in maintaining stability amid...

Mitsotakis to Visit Finance Ministry Following Economic Upgrades

Greek Prime Minister Kyriakos Mitsotakis will visit the Ministry of Finance on Monday to discuss the recent economic upgrades by Moody's and DBRS Morningstar, driven by fiscal achievements, reduced debt, and strong growth, while the new finance minister faces challenges in maintaining stability amid...

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What specific challenges does the new Minister of Finance face, and how might these challenges affect Greece's economic trajectory?

Moody's and DBRS Morningstar upgraded the Greek economy due to factors such as exceeding fiscal targets, tackling tax evasion, reducing non-performing loans, decreasing public debt by 50 GDP points in 5 years, and faster economic growth than the EU average. This positive development occurred despite significant geopolitical and economic uncertainties. The new minister, Kyriakos Pierrakakis, faces challenges in maintaining market and international organization confidence amidst pressure for government spending.",

kathimerini.gr

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Mar 16, 22:11

Greece Streamlines Tax Registration to Attract Foreign Residents

Greece is simplifying its tax registration process to attract wealthy individuals, retirees, and workers, aiming to finalize applications in days instead of months. Since 2020, 213 high-net-worth individuals and 879 retirees have been approved, investing €277.38 million and triggering the digitaliza...

Greece Streamlines Tax Registration to Attract Foreign Residents

Greece is simplifying its tax registration process to attract wealthy individuals, retirees, and workers, aiming to finalize applications in days instead of months. Since 2020, 213 high-net-worth individuals and 879 retirees have been approved, investing €277.38 million and triggering the digitaliza...

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What are the main factors driving the increase in applications for tax residency in Greece?

This initiative responds to a significant increase in applications for tax residency in Greece, driven by favorable tax laws offering a 50% reduction for specific income types. Since 2020, 213 out of 233 applications from high-net-worth individuals have been approved, with a total investment of €277.38 million. Additionally, 879 out of 1,411 applications from retirees have been approved, many relocating from countries like Portugal and Italy.

Showing 85 to 96 of 153 results