Deposits placed by households and private non-profit institutions in Greece increased by 439 million euros in August 2023, after an increase of 163 million euros the previous month, with the annual growth rate reaching 3.3 percent, slightly up from 3.4 percent in July 2023, the Bank of Greece (BoG) announced on Wednesday.
The central bank, in a monthly report, said the monthly net flow of total deposits in August 2023 was positive by 408 million euros, compared with a negative net flow of 159 million euros in July 2023.
Deposits placed by the general government increased by 218 million euros, compared with a decrease of 23 million euros in the previous month; the annual growth rate stood at -5.4 percent compared with -2.3 percent in the previous month. Deposits placed by the private sector increased by 190 million euros, compared with a decrease of 136 million euros in the previous month; the annual growth rate stood at 3.2 percent from 3.1 percent in the previous month. Corporate deposits decreased by 249 million euros, compared with a decrease of 299 million euros in the previous month; the annual growth rate increased to 2.6 percent compared to 2.3 percent in the previous month. In particular, deposits from NFCs decreased by 206 million euros, against a decrease of 380 million euros in the previous month. Deposits placed by insurance corporations and other financial intermediaries decreased by 43 million euros, compared with an increase of 81 million euros in the previous month.
A monthly net flow of total credit was negative by 566 million euros in August 2023, compared with a negative net flow of 1,157 million euros in the previous month. In August 2023, the monthly net flow of credit to the general government was negative by 165 million euros, compared with a positive net flow of 193 million euros in the previous month; the annual growth rate increased to 1.6 percent compared with -0.4 percent in the previous month. The annual growth rate of credit to the private sector decreased to 0.9 percent from 1.2 percent in the previous month. The monthly net flow of credit was negative by 401 million euros, compared with a negative net flow of 1,350 million euros in the previous month.
The monthly net flow of credit to corporations was negative by 319 million euros, compared with a negative net flow of 1,175 million euros in the previous month; the annual growth rate decreased to 3.0 percent from 3.7 percent in the previous month.
In August 2023, the monthly net flow of credit to individuals and private non-profit institutions was negative by 67 million euros, compared with a negative net flow of 74 million euros in the previous month; the annual growth rate stood at -2.4 percent compared with -2.6 percent in the previous month.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%
