ECONOMY

Less growth, numerous risks
FINANCE

The Bank of Greece has lowered its forecast for this year’s growth to 2.3% from 2.5% and is fully aligned with the latest estimates of the European Commission, against the budget’s estimate for 2.9%.


Greeks turn to private-label, domestic brands in response to inflation, survey shows
ECONOMY

Greek consumers are increasingly turning to private label products as they strive to lower their supermarket bills in the face of persistently high prices, according to an annual phone survey conducted in January 2024 by the Marketing Lab of the Athens University of Economics and Business (AUEB), using a random sample of 1880 households.


Finance Ministry prices SYRIZA program at €40 bln
ECONOMY

The recent economic proposals announced by main opposition SYRIZA-Progressive Alliance and its leader Stefanos Kasselakis would come at “a huge economic cost” and are “entirely uncosted and without planning, or even checked for compatibility with European laws,” according to a joint announcement released by Deputy National Economy and Finance Ministers Harry Theoharis and Thanos Petralias on Friday.


Precarious jobs for many foreigners at call centers
ECONOMY

Seven out of 10 workers at call centers in Greece are from Turkey, the Middle East and North Africa. They obtain visas easily but they are kept on a short leash, often on monthly contracts, and their “special purpose visas” mean that as soon as the contracts expire, they must return to their country.



Bill to free up space on Greece’s electricity grid
ECONOMY

The Recovery and Resilience Plan is the “most ambitious program the European Union has ever conceived of planning and implementing,” Environment and Energy Minister Thodoros Skylakakis said on Thursday, expressing satisfaction with the progress in its implementation and the loans envisioned under RepowerEU.


Cypriot inflation up 2.1% y-o-y in February
ECONOMY

The Harmonized Index of Consumer Prices (HICP) in Cyprus rose by 2.1% between February 2023 and February 2024, according to data published by the Statistical Service of Cyprus (CyStat) on Friday. 

Overshoot in 2023 budget takings
FINANCE

Tax revenues and the primary result of the budget in January and February exceeded the target, but this is largely counted in the 2023 budget, per the Finance Ministry.



Taxman online with banks
TAXATION

Millions of bank accounts of taxpayers and companies will soon be targeted by the tax authorities, with the use of the new system which will scan all their movements.