ECONOMY

Greek credit contracts 1.4 percent year-on-year in January

greek-credit-contracts-1-4-percent-year-on-year-in-january

Total credit in Greece's banking system contracted 1.4 percent year-on-year in January after a 1.3 percent decline in the previous month, official data showed on Wednesday.

The data was released by the Bank of Greece, the country's central bank. 

There have been growing fears about the repercussions of the coronavirus on the Greek economy with banks and businesses only recently recovering from a protracted recession. 

[Reuters/Kathimerini]