Greece Sees Major Positive Economic Developments in February



This Friday held a positive surprise for the Greek economy, as the yield on Greece’s 10-year state bond fell to 3.647 percent, the lowest level in more than a year.

According to Greece’s state-run AMNA news agency, this is partially due to a more positive global economic outlook, derived from projections for higher global growth in the next months. The elimination of the chances for a no-deal Brexit also affected this development positively.

The Greek government will therefore plan to tap into the international money markets next week, in order to capitalize on these recent gains.

In addition to the positive bond news, new orders from Greek businesses grew strongly in February, at the fastest rate recorded in twelve months. The demand for Greek products from consumers abroad rose as well, contributing to a rosy economic outlook for this economic quarter.

In addition to these developments, international orders for products produced by Greek businesses rose for the seventeenth consecutive month during in February.

The number of new jobs in Greece grew as well in February, extending a growth trend which began in May of 2017.

Greek manufacturers remained optimistic over their production outlook for 2019, while overall business confidence in Greece also grew in February. The optimism about all sectors of the economy seems to be the highest that has been seen in the last six months.

Greece exited its last bailout program only in August of last year, with hopes for stronger growth rates and positive economic change remaining high, despite some delays in the implementation of agreed-upon reforms.