UBS on Thursday released various economic forecasts for national economies and the global situation, the “UBS World at a Glance” report, pegging Greek GDP growth in 2022 at 4 percent.
The international investment bank cited a “lower statistical carry-over, soft high frequency data in Q1 so far and a much faster rise in inflation in 2022 – led by energy and food prices”.
Nevertheless, UBS said Greece had a very strong start to the tourism season, pointing to revenues increasing by 340 percent, y/y, in the first quarter.
The report adds: “Household spending should benefit from the government support measures related to energy prices (2.2 percent of GDP), sustained job gains (employment up 14 percent y/y) and the second minimum wage hike (combined 9.7 percent since January). In addition, Greece received EUR 3.6bn from the RRF on 8 April (after EUR 4bn in August 2021). The government expects a -2 percent of GDP primary budget deficit in 2022 and the primary budget deficit in January-April 2022 reached only EUR -0.8bn (-0.4 percent of GDP), or EUR 1.7bn better than planned (revenues better, spending lower).”
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction
Greek 30Y Bond Issue Oversubscribed by 11 Times
Very high demand pushed down the coupon's interest rate to 4.125%
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses
IOBE: Income Gap Between Poor and Wealthy Greeks Widens
The findings in the analysis, entitled “Progressivity in Income Taxation in Greece, 2012-2021", paint a bleak picture for Greeks in the bottom half of the income bracket, warning that income inequality is growing
Study Finds 4 in 10 Greeks to Slash Easter Spending
This year, hit by persistent inflation, many Greeks will be dishing out less on food, drink and gifts for Orthodox Easter on May 5
ELSTAT: Overnight Stays in Greece Up in Feb.
The provisional monthly data revealed that arrivals at tourist accommodations amounted to 773,104 and overnight stays were 1,677,685
Electric Energy: Greece’s New Sustainable Export
Moreover, a surplus of generated electricity cannot be fully absorbed by domestic grids and this excess power finds eager buyers in the form of companies entering into Power Purchase Agreements (PPAs), willing to pay a premium for clean energy
