Bond being reissued in Monday auction

The Public Debt Management Agency will hold an extraordinary auction of Greek state bonds on Monday, with the reissue of debt maturing on January 30, 2033. 

Taxman puts pressure on debtors

The tax administration appears to be stepping up efforts to safeguard the state’s interest as new expired dues to the state soared to 3.326 billion euros in the first quarter of 2022 from €2.164 a year earlier, a rise of 53.7% year-on-year.

CoLA tops up stretched Cypriot salaries

The support of salaries in Cyprus by the Cost of Living Allowance (CoLA) is expected to help the island republic outperform the eurozone in growth terms next year, according to a statement by the Cypriot Ministry of Finance on Tuesday.

No more support measures for now

The European Commission has revised its forecast for Greek growth in 2022 and 2023, considerably reducing its expectations, while the Finance Ministry appears to be shelving any plans for additional support measures, despite the positive budget figures to date.

Rate rise will slash debt ratio

Soaring inflation and the forced normalization of the European Central Bank’s monetary policy are creating significant challenges for the Greek economy, with stagflation being the most probable scenario.

Business development incentives bill tabled

Finance Minister Christos Staikouras on Monday tabled the draft law “Incentives for Business Development, Through Partnerships and Corporate Transformations,” which is a reform of the National Recovery and Resilience Plan (Greece 2.0), in Parliament.

JTI strategic sponsor for InvestGR Forum

For the third consecutive year, Japan Tobacco International (JTI) is supporting the InvestGR Forum as a strategic sponsor, with its active participation at the 5th InvestGR Forum 2022: A New Greece Emerges, to take place on July 13 at the Grand Hyatt in Athens.

The key to another €750 mln

Any unfulfilled commitments remaining for Greece at the end of its enhanced surveillance by its creditors will constitute the milestones required for the collection of the final tranche from eurozone central banks’ earnings from their Greek bond holdings (SMPs and ANFAs).

Traders see a method to Turkish lira’s recent slide

A six-day slide in Turkey’s lira has left traders predicting that authorities are now targeting a new level, as weak as 15.5 to the dollar, in a months-long effort to stabilize the exchange rate using its depleted reserves together with other measures.

Households struggling as inflation hits 28-year high 

Any budgeting efforts by households over the last year have been rendered useless, with official data on Tuesday showing Greece’s annual consumer inflation soared in April to 10.2%, the highest in 28 years, as a result of surging costs for energy, housing, transportation and food.

Prices set to spike in 2022

Prices will remain high for the next two years but will peak in 2022, Senior Global Economist at Goldman Sachs Daan Struyven tells Kathimerini, warning of the risk of inflation triggering a wage-price spiral that will have negative consequences on investments and growth.

Subsidy platform from June

Power consumers eligible for the retroactive subsidy of electricity bills the prime minister announced on Thursday will be able to submit their applications on an online platform that will open in early June, the government announced on Friday.

Gov’t signs first contract under Greece 2.0

Greek authorities on Friday signed a contract for the Gov-ERP project, the first project included in the National Recovery and Resilience Plan (Greece 2.0), designed to promote the digital transformation of the country.