EIRINI CHRYSOLORA

IMF slashes forecast for jobless rate

The International Monetary Fund has significantly improved its projections for unemployment in Greece, despite the adjustment of the growth rate to a lower level, and is not significantly concern about a jump in the jobless rate once the economic support measures come to an end.

BoG: Keep supporting workers

The Greek economy is at risk of facing a large number of bankruptcies by unsustainable enterprises after the coronavirus crisis, Bank of Greece Governor Yannis Stournaras warned on Tuesday in his annual report for 2020, noting that a safety net for workers at those enterprises is necessary.

05.04.2021 / 04:00

Task force, bonuses for recovery plan

The six-year challenge that is the utilization of European resources through the “Greece 2.0” program has been entrusted to a select task force of 40 technocrats, a new information technology system and the know-how of some 15 private consultants.

03.04.2021 / 22:30

BoG insists on 4.2% growth

The Bank of Greece is standing by its forecast for an economic rebound of 4.2% this year, as Governor Yannis Stournaras is expected to announce on Tuesday, according to sources.

31.03.2021 / 11:25

Government unveils blueprint for the utilization of European resources

The energy upgrade of the country’s building stock (mainly via the “Exoikonomo” program of state subsidies), the modernization of professional education and training, the digital transformation of the state and private investment will absorb the bulk of the National Recovery and Resilience Plan’s budget.

26.03.2021 / 03:10

Recovery plan’s timetable

The national recovery program that the government will submit to the European Commission in mid-April so as to claim the grants of the Next Generation EU fund, amounting to over 18 billion euros, contains a list of 118 projects and 64 reforms.

23.03.2021 / 23:31

Projection for growth at just 2.7% this year

The cost of the state’s support measures has again been revised upward, following the new lockdown extension, according to the latest calculations of the Finance Ministry and the estimates of the Parliamentary Budget Office, which cut its projection for growth in 2021 to 2.7%.

22.03.2021 / 10:33

Breaks for civil servants too

The government will consider expanding to civil servants and pensioners the tax breaks implemented this year in the private sector, i.e. the reduction of social security contributions by three percentage points and the solidarity levy suspension. This will probably happen in the fall, depending on the fiscal leeway, ahead of the 2022 budget, according to government sources.

19.03.2021 / 20:55

Intent on labor cost reduction

The government is determined to continue along the path of tax cuts, with an emphasis on reducing the load on labor – mainly salaried employment – the chief economic adviser to the prime minister, Alex Patelis, confirmed on Thursday.

17.03.2021 / 22:31

Q1 recession to be worse than forecast

The contraction in the first quarter of 2021 will be worse than projected due to the extended lockdown, according to Finance Ministry estimates, while the fiscal figures will suffer a further setback in March and the next two months.