Revenues for the first seven months of the year have exceeded targets, and there is an excess surplus, making the government optimistic that it will reach the primary surplus budget target of 3.5 percent of gross domestic product.
Financially troubled deli producer Creta Farms is in limbo, with its creditors refusing to accept any solution other than brothers Manolis and Konstantinos Domazakis, who own an 80 percent stake, putting their shares up as collateral for a new 8-million-euro loan.
Olive oil is Greece’s fourth most important export, with sales abroad totaling 524.5 million euros in 2018. However, Greece keeps losing market shares to its main competitors, Italy and Spain, as well as rising players in the international market, such as Tunisia.
The bidding process for the construction and operation of a casino on the site of the former airport at Elliniko, southern Athens, is expected to be completed at the end of September, with the government insisting there will be no deadline extension.
A recession at home, combined with Greek hotels’ loss of competitiveness, due to their being overburdened by taxation, and the recovery of destinations such as Egypt and Turkey, has led to a drop in the number of German tourists this year.
Manufacturing production rose 2.6 percent year-on-year in the second quarter of 2019, following a 2.2 percent rise in the first quarter, according to data provident by Greece’s independent statistics authority ELSTAT.
Greece's Giannis Antetokounmpo, of the Milwaukee Bucks (center) looks to pass the ball, between Italy's Giampaolo Rice (right) and Paul Biligha, during a game at the Acropolis basketball tournament in the indoor Olympic stadium of Athens on Friday. Greece won the game 83 to 63. [Yorgos Karahalis/AP]