By Leonidas Stergiou They say that money goes to money. Perhaps, this phrase is commonplace or misleading, at least, for the Greek deposits that increased by about 40 billion euros from the beginning of the pandemic in 2020 until the end of 2022. It makes sense, because higher incomes have more savings. Misleading because there […]
Tag: Bank of Greece (BoG)
BoG: Current account deficit increased in the first quarter
In the first quarter of 2022, the current account deficit increased compared to the same period in 2021, mainly due to the deterioration of the goods balance and, to a lesser extent, the primary and secondary income balances, which was to some extent covered by the increase of the services surplus, as announced today by […]
At 64% of the commercial value the average mortgage
By Leonidas Stergiou The mortgage market may have been moving at an annual rate of over 30-40% over the last three years, however, disbursements are still low, as total one-year disbursements range from the mediocre to bad months of the past decade. . On the other hand, only 6% of new mortgages cover 100% or […]
BoG: Deficit of 921 million in the primary result of the state budget
A deficit of 921 million euros showed the primary result of the state budget for the period January – April, compared to a deficit of 6.5 billion euros in the corresponding period last year, according to data released today by the Bank of Greece. At the same time, for the period January-April 2022, the cash […]
Bank of Greece warns of new red loan flows
Despite the progress that Greek banks have made in reducing red loans, complacency is not allowed as from the first indications it seems that we have new flows of non-performing loans and an increase in regulated loans. This warning was addressed by the Deputy Governor of the Bank of Greece Christina Papakonstantinou speaking today at […]
G. Stournaras: The dangers for the EU are serious. from the war in Ukraine
The need for the major institutional reforms that the Eurozone needs to proceed more rapidly was mentioned by the Governor of the Bank of Greece, Giannis Stournaras, in a speech to the members of the Supervisory Board of the Unified Supervisory Mechanism (EEM) on the occasion of the Supervisory Board meeting. Bank of Greece. The […]
How did air and road arrivals move in the first quarter?
By Vicky Kourlimbini In the first quarter, 741 thousand international air arrivals were recorded compared to 1.2 million in the period January-March 2019, showing a decrease of 48.9% or 489 thousand arrivals. These are data included in the April statistical bulletin of the Institute of the Association of Greek Tourism Enterprises. The comparison is made […]
BoG: The risks to the economy, businesses, households
By Leonidas Stergiou The Bank of Greece is ringing the bell for an increase in borrowing costs due to rising interest rates and a reduction in disposable income, in the Financial Stability Report. According to the BoG, the energy crisis, combined with the war in Ukraine, increases the risks to the Greek economy, businesses, households […]
BoG: Challenges to financial stability since the war in Ukraine
The effects of the Russian invasion of Ukraine have affected the prospects for the recovery of the Greek economy and intensify the challenges for financial stability, warns the Bank of Greece in the Financial Stability Report, which is published twice a year, by the Financial Management Directorate. . The Financial Stability Report assesses the developments, […]
G. Stournaras: Bank of Greece had warned in time about high inflation
The Bank of Greece had warned in time since June 2021 in the Monetary Policy Report about the risk of a global inflation spike, noting that there are also structural factors, such as the denationalization of production and climate change, which may lead to higher long-term inflation, said recently the governor of the BoG Giannis […]