Economy

Greece’s economy is expected to expand by 2.5% this year due to strong domestic demand, investments and EU funds, the International Monetary Fund (IMF) said on Tuesday. Growth will slow down to 2.0% next year, the fund said in staff...

Greece on Monday announced plans to sell a 20 percent stake in the National Bank of Greece (NBG) after concluding the sale of a 9 percent stake in Alpha Bank to UniCredit. The shares in NBG, Greece's second-largest bank by...

ChatGPT came out almost a year ago and has only increased enthusiasm for generative artificial intelligence and jobs in this field. Increased enthusiasm in the labor market is apparent both among employers and job seekers. Thus, over the year, the...

In an official decree, Greece's Ministry of Development has announced fines of €1 million each on Unilever and Procter & Gamble. The penalties were imposed due to the violation of gross margin cap regulations spanning over one hundred product...

Greece's Ministry of Finance has announced an initiative to offer citizens a bonus of up to 3,000 euros for reporting instances of tax evasion. The incentive is part of a broader movement in strengthening tax compliance and transparency in...

The size of the shadow economy in Greece reaches 20.9 percent of the country's Gross Domestic Product (GDP), Bank of Greece governor Yannis Stournaras said on Tuesday. Shadow economy consists of transactions between individuals, or individuals and businesses, without being...

The European Central Bank (ECB) meeting in Greece, left interest rates unchanged on Thursday, after an unprecedented streak of 10 consecutive rate hikes. The ECB has lifted rates by a combined 4.5 percentage points since July 2022 to combat runaway...

Amazon is continuing its investment in Greece with the creation of a solar park in Makrihoria, Aetoloakarnania. This project is one of a total of thirty-nine new renewable energy projects announced by Amazon in Europe, adding more than 1GW of...

Greece's economy received a substantial boost late on Friday after Standard & Poor's upgraded its rating to investment grade for the first time since the country’s debt crisis in 2010. Standard & Poor's, became the first among the “big three”...

The war between Israel and Hamas marked the biggest escalation in the Middle East since 1973, but now cryptocurrencies play a special role. The hostilities began with an attack by Palestinian militants on units of the Israel Defense Forces...

Greece is one of the five European countries with the most expensive Airbnbs. Prices have skyrocketed over the past twelve months. A recent report from travel analytics company AirDNA found a surge in European travel, with average daily rates (ADR)...

The Greek economy is expected to grow by 2.5% this year and 2% in 2024, significantly exceeding average growth rates of 0.7% and 1.2% in the eurozone, the International Monetary Fund (IMF) said in its World Economic Outlook report...

Foreign direct investment projects in Greece increased by 57 percent in 2022, according to a survey presented earlier in the week in Athens by Ernst & Young (EY), a British multinational professional services partnership headquartered in London. The "Attractiveness Survey...

The 2024 budget tabled in Parliament on Monday shows that Greece's economy is projected to grow at a faster pace next year, rising by 3.0 percent compared to a 2.3 percent expansion this year. According to the draft budget, Greece...

Greek systemic banks earned credit upgrades from credit agencies Fitch and Moody's on Tuesday following a recent round of upgrades of Greece's credit rating. Fitch Ratings upgraded Eurobank SA's Long-Term Issuer Default Ratings (IDRs) to 'BB' from 'BB-', and Viability...