Greece economy
Economy
Shadow Economy in Greece is Shrinking, IMF Says
The shadow economy in Greece fell to 16 percent of GDP in 2021 according to the latest report by researchers at the International Monetary Fund (IMF).
The report titled "Recent Trends of Informality in Greece: Evidence from Subnational Data" notes...
Economy
Unemployment in Greece Falls to 10.8%
In May, the unemployment rate in Greece fell to 10.8% according to data released by the Hellenic Statistical Authority on Friday.
The newly released statistics are generally consistent with a trend toward lower unemployment in Greece over the past few...
Business
Greece Has Already Gained Investment Grade, Analysts Say
Greek bonds are already trading as though Greece has regained investment grade, bank analysts told Reuters on Friday.
The news agency reports that investors consider Greece's return to investment-grade credit ratings "a done deal".
"Investors are hopeful that the New Democracy...
Economy
Moody’s, Goldman Sachs Upgrade Prospects for Greek Economy
The prospects for the Greek economy have been lauded by two separate reports from Moody's and Goldman Sachs.
Moody's estimates that the general government debt will be falling below 150% of GDP in 2025 from 171.3% in 2022, thanks to...
Economy
Greece Named Top Economic Performer for 2022 by the Economist
Greece was named this week the top economic performer for 2022 among selected OECD nations by the Economist magazine.
The Economist ranked Greece according to five key indicators in its analysis of 34 OECD countries. Greece fared the best in...
Economy
Greece Exports Hit Record High, but Jump in Imports Signals Warning
Greece exported a record 20.5 billion euros ($20.6 billion) worth of goods in the first five months of the year. However, a rise in imports and a decline in domestic consumer spending dampened the good news.
From January through May,...
Business
Unemployment in Greece Falls to 11-Year Low in December 2021
Greece's unemployment rate fell to 12.8% in December 2021, marking a significant decline over December 2020's 13.4% and November 2020's 15.5%, according to official figures released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
During 2021, Greece experienced wild swings...
Economy
Foreign Investments in Greece Soar by 77% in 2020, Report Finds
Direct foreign investments in Greece rose by 77 percent in 2020, a report by multinational accounting firm Ernst & Young Greece revealed.
Economy
Bank of Greece Insists on 4.2% Economic Growth for 2021
The Bank of Greece (BoG) said on Monday that economic growth will reach 4.2 percent this year, as it had also forecast in its previous report
Economy
S&P Upgrades Greece’s Rating and Outlook
S&P Global Ratings, the American credit rating agency, upgraded Greece’s sovereign credit rating by one notch on Friday, to "BB" from "BB-".