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Cypriot growth to reach 5.5% this year

Cypriot growth to reach 5.5% this year Cyprus’ economy is forecast to grow by 5.5% in 2022 on better-than-expected tourism arrivals, although the outlook is tempered by energy market turbulence which will sap demand later in the year, the island’s Central Bank said on Thursday. Updated projections of economic output were 2.8 basis points higher […]

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Tourist arrivals grow by 40% and Cyprus residents’ trips abroad by 59% in August

Tourist arrivals grow by 40% and Cyprus residents’ trips abroad by 59% in August Tourist arrivals increased by 40.2% in August 2022, rising to 451,133 compared to 321,858 in August 2021, CNA reports.  Tourism in Cyprus is showing a strong recovery during 2022, the authorities have announced. RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in […]

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Budget revenues lead to a primary surplus

Budget revenues lead to a primary surplus State budget revenues continued to grow in August, expanding a much needed fiscal space for the Greek government as they offered an unexpected primary surplus when a primary deficit had been anticipated. On Friday the Finance Ministry released its monthly report on budget execution which showed that budget […]

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Economy to grow 4% in 2022

Economy to grow 4% in 2022 With days left before Prime Minister Kyriakos Mitsotakis’ keynote speech at the Thessaloniki International Fair and the submission of a supplementary budget, the Ministry of Finance is increasingly convinced that economic growth in 2022 will reach 4% instead of the original estimate of 3.1%. This is in line with […]

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Arrivals to the Greek islands of the SE Aegean Sea grow 17% in early August

Arrivals to the Greek islands of the SE Aegean Sea grow 17% in early August Arrivals to the islands of the Southeast Aegean increased by 17 pct in the first seven days of August 2022 compared to the corresponding period of 2019, Tourism Minister Vassilis Kikilias said on Thursday in an interview with Skai TV, […]

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Greek GDP seen growing 6% in 2022

Greek GDP seen growing 6% in 2022 Greece’s economy will grow by nearly 6% in 2022, even with severe energy shortages toward the end of the year, driven by booming tourism and investments, Prague-based investment Wood & Company believes. Wood takes a look at two likely outcomes based on disruptions in energy supplies; only occasional […]

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English Edition

ING: Greek GDP to grow by 4.2% this year, 1.7% in 2023; inflation’s impact possibly offset by banner tourism season

ING: Greek GDP to grow by 4.2% this year, 1.7% in 2023; inflation’s impact possibly offset by banner tourism season ING, in a report on Tuesday, said double-digit inflation now recorded in Greece may slow down domestic consumption, however, projected strong tourism revenues will buttress the Greek economy, which is forecast to growth by 4.2 […]

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Greece’s pivotal role in promoting Balkan energy security

Greece’s pivotal role in promoting Balkan energy security As concerns grow across Europe over the possibility of a complete disruption of Russian gas flows, Greece is transforming itself into a gateway for alternative sources of energy to flow into Europe. Its northern region of Thrace, with cities like Alexandroupoli, is at the heart of this […]

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IOBE resorts to upward revision of growth

IOBE resorts to upward revision of growth Greece’s economy will grow by 3.5% to 4% this year, according to the quarterly report of the Foundation for Economic and Industrial Research (IOBE). It is noted that the previous estimate spoke of growth of 2.5% to 3% this year. Inflation is expected to move to 9-9.6%, as […]

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English Edition

ATHEX: Bourse index slips while banks grow

ATHEX: Bourse index slips while banks grow The majority of blue chips and stocks in general at Athinon Avenue enjoyed a small rebound on Wednesday, well below the early gains in line with other eurozone markets, though the benchmark swung from gains to losses in the closing auctions mainly due to the drop in oil […]

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Greek economy to grow by 2.8% in 2022, 2.5% in 2023, OECD report says

Greek economy to grow by 2.8% in 2022, 2.5% in 2023, OECD report says The Greek economy is expected to grow by 2.8% this year and 2.5% in 2023, the Organisation for Economic Cooperation and Development (OECD) said in its Economic Outlook report released on Wednesday. The Paris-based organization said that the recovery is expected […]

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Worry about stagflation, a flashback to ’70s, begins to grow

Worry about stagflation, a flashback to ’70s, begins to grow Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High […]

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English Edition

BoC sees its profits grow in Q1 2022

BoC sees its profits grow in Q1 2022 Bank of Cyprus group on Thursday announced a net profit of 21 million euros for the first quarter of 2022, compared to a net profit of €8 million in the first quarter of 2021. At the same time, it announced a record €618 million of new loans […]

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English Edition

Scientists Grow Food Using Soil from Moon

Scientists Grow Food Using Soil from Moon Scientists grew thale cress seeds in moon dust brought back by three Apollo missions. Credit: University of Florida Food has been grown in soil collected from the Moon for the first time, paving the way for human colonization of the solar system. Scientists from the University of Florida […]

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ATHEX: Losses grow as concerns propagate

ATHEX: Losses grow as concerns propagate International worries over the export of the crisis in former Soviet republics to the rest of Europe – with Russia turning off the gas supply to Poland and Bulgaria – sent European stocks tumbling and the Greek bourse suffering significant losses on a day when attention had been focused […]

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Economy

Κρι Κρι Grow: Σύμμαχος ανάπτυξης για βρέφη και μικρά παιδιά

Κρι Κρι Grow: Σύμμαχος ανάπτυξης για βρέφη και μικρά παιδιά Η ελληνική γαλακτοβιομηχανία Κρι Κρι παρουσιάζει τη νέα σειρά επιδόρπιων γιαουρτιού «Κρι Κρι Grow» για βρέφη έξι μηνών και πάνω και μικρά παιδιά, η οποία πρόκειται να αποτελέσει σπουδαίο σύμμαχο στην ανάπτυξή τους. Τα νέα «Κρι Κρι Grow» κυκλοφορούν σε δύο υπέροχες γεύσεις, «Αλεσμένα Δημητριακά» και «Μπανάνα & Μήλο» και παρασκευάζονται […]

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International Monetary Fund: Greek Economy to grow by 3.5% in 2022

International Monetary Fund: Greek Economy to grow by 3.5% in 2022 The Greek economy is expected to grow by 3.5% this year despite the war in Ukraine, the International Monetary Fund (IMF) said its staff concluding statement of the 2022 Article IV consultation mission released on Friday, according to ANA. In its report, the IMF […]

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Stournaras: Greek economy set to beat forecasts

Stournaras: Greek economy set to beat forecasts The Greek economy will grow faster than the expected average rate of 2% in the next decade because of specific reasons, Bank of Greece Governor Yannis Stournaras said on Wednesday. Addressing an event organized by the European Investment Bank in Athens, the Greek central banker said these reasons […]

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English Edition

Greek economy to grow faster than expected, BoG governor says

Greek economy to grow faster than expected, BoG governor says The Greek economy will grow faster than the expected average rate of 2% in the next decade because of specific reasons, the Bank of Greece’s governor Yannis Stournaras said on Wednesday. Addressing an EIB’s event in Athens, the Greek central banker said these reasons were: […]

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English Edition

Bank of Greece chief: Greek economy to grow faster than expected

Bank of Greece chief: Greek economy to grow faster than expected The Greek economy will grow faster than the expected average rate of 2% in the next decade because of specific reasons, the Bank of Greece’s governor Yannis Stournaras said on Wednesday, ANA reports. Addressing an EIB’s event in Athens, the Greek central banker noted […]

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English Edition

Large firms pay better, salaries to grow

Large firms pay better, salaries to grow Large enterprises – employing more than 50 staff each – offer their employees far better salaries than small, family companies – family members and up to 10 workers – according to data from the Labor Ministry’s Ergani employment database. Figures also show the average salary posted an increase […]

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English Edition

Fashion e-commerce: At + 15% in 2021 – Forecasts until 2024

Fashion e-commerce: At + 15% in 2021 – Forecasts until 2024 The e-commerce of fashion continues to grow at pandemic rates, in 2021 as well, as  it recorded a double-digit growth rate and is now a market of 1 billion euros in Greece. 2022 was a record year for online fashion shopping, according to the […]

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Erika Olson: Ample opportunities available to grow & expand Greece-US relations

Erika Olson: Ample opportunities available to grow & expand Greece-US relations US Deputy Assistant Secretary of State Erika Olson, who is overseeing policy for Southern Europe and the Caucasus, gave an interview to Athens-Macedonian News Agency (ANA-MPA) during her visit to Athens and Thessaloniki earlier this week. Underlining that the bilateral relationship between Greece and […]

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Greece expects economy to grow by 4.5% next year, 2022 draft budget shows

Greece expects economy to grow by 4.5% next year, 2022 draft budget shows Greece’s economy is projected to grow by 4.5% next year after a strong rebound this year on stronger tourism, pent-up demand and a boost from state support measures, the government’s draft 2022 budget projected on Monday. The government recently revised upwards this […]

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ATHEX: Steep decline as worries grow

ATHEX: Steep decline as worries grow The early gains at the Greek stock market gave way to a steep decline for the majority of stocks on Tuesday on global uncertainty that sent share prices sliding, bond yields climbing and commodity rates soaring. It took less than 50 million euros of turnover for the benchmark at […]

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PM revises economic growth to 5.9% this year, from 3.6%

PM revises economic growth to 5.9% this year, from 3.6% The Greek economy is projected to grow by 5.9% this year, faster than the 3.6% growth previously forecast, Prime Minister Kyriakos Mitsotakis said on Saturday during his annual economic address. Greece emerged from a decade-long financial crisis in 2018 but saw its economy slump again […]

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Fourlis sees sales grow and opens new IKEA store in Sofia

Fourlis sees sales grow and opens new IKEA store in Sofia Fourlis Group, which is the exclusive franchisee of IKEA, Intersport and The Athlete’s Foot in a number of countries, including Greece, has announced its sales during the first half of 2021 came to 185.7 million euros, up 16.5% from the same period in 2020, […]

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As the Taliban tightens its grip, fears of retribution grow

As the Taliban tightens its grip, fears of retribution grow When Taliban troops seized control of the Afghan capital two weeks ago, the invading units made a beeline for two critical targets: the headquarters of the National Security Directorate and the Ministry of Communications. Their aim — recounted by two Afghan officials who had been […]

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Merkel’s appointment with history

Merkel’s appointment with history Europe has to grow up. It was shaken awake first by Donald Trump and now again by the events in Kabul. The question is whether it has the stalwart leadership it needs on the turbulent path to adulthood. In just a few weeks, Angela Merkel will become the subject of historical […]

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English Edition

Construction will grow quickly, report shows

Construction will grow quickly, report shows Greece’s construction sector will get a significant boost from the funds disbursed through the European Union’s Recovery and Resilience Facility, Fitch Solutions estimates in a report released last week. “Greece’s construction sector will see real growth of 2.4% year-on-year during 2021, having experienced a limited impact from the Covid-19 […]

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