However, it downgraded its estimates for 2023 as it predicts that the Eurozone will enter a technical recession in the fourth quarter of 2022 and into the first quarter of 2023. Her Eleftherias Kourtalis Bank of America upgraded its estimates for growth in Greece and the Eurozone this year, due to strong tourism, while downgrading […]
Tag: development
Despite the increase in spreads in the Ministry of Finance, they see a large reduction in debt
By Tasos Dasopoulos The estimate that inflation will jump this year to 8.5-9% on an annual basis does not only have the known negative consequences. If it is combined with the fact that growth will touch – if not exceed – 5%, it may result in a record reduction of debt at the end of […]
Pictet: Deep recession in the winter in the Eurozone with double-digit inflation – Triple the cost of energy
Her Eleftherias Kourtalis Pictet Wealth Management is revising its eurozone GDP forecast due to a further worsening of the energy shock and a deeper recession to hit in the winter. It now expects growth to slow from 2.9% in 2022 to 0% in 2023, while estimating that we have yet to see the peak in […]
Saudi Arabia’s economy is growing rapidly but this time it is not just focused on oil
The more than 300 apartments in Abdulsalam Almajed’s new compound in Riyadh were sold in just one month for cash, without him even having to advertise. Of course, it’s no surprise that the real estate market in the world’s largest oil exporter is “hot” as the proceeds from rising energy prices spill over into the […]
Smiles at the Ministry of Finance from the public funds – Up to €4 billion for the cushion
By Tasos Dasopoulos About 3.2 billion euros is the “net” excess of regular tax revenues for the seven months January-July, together with the early, one-off repayment of a refundable advance of 897 million euros in July, which fills the Ministry of Finance with optimism about the revenues until the end of the year. The total […]
Dutch economy grows 2.6% in second quarter despite surging inflation
Economic growth in the Netherlands jumped to a surprising 2.6 percent in the second quarter compared with the previous three months, as household spending picked up despite high inflation and companies stepped up investment. The strong expansion defied economists’ expectations that growth would remain around the 0.5% seen in the first quarter of 2022. The […]
China: Surprise rate cut after disappointing consumption and factory data
China’s central bank cut key lending rates today in a surprise move to boost demand after data showed the country’s economy unexpectedly slowed in July, with industrial activity and retail trade under pressure from policy zero Covid and the crisis in the real estate market. In particular, the numbers showed that the world’s second-largest economy […]
Scope: Strong recovery, tourism and ECB TPI boost Greece’s outlook
Development dynamics, tourism dynamics, political stability and the European Central Bank’s new tool, TPI, significantly help Greece’s creditworthiness and strengthen its prospects, the German rating agency Scope estimates in its analysis. In an analysis signed by the director of the house’s sovereign debt assessment department, Dennis Shen, it is noted that “Greece (BB+/Stable – the […]
What can bring the positive surprise to growth this year?
Of Tasos Dasopoulos Continuation of the good start made by the economy in the first quarter of the year, recording a growth of 7%, the Ministry of Finance sees for the second and third quarters of the year as well, since despite the persistent high inflation, Greece seems to maintain the growth momentum it developed […]
Wood: Greece is the growth champion this year even in an unfavorable scenario for energy – Spectacular performances in tourism and investments
Her Eleftherias Kourtalis Greece is expected to emerge as the growth champion this year, whether there are serious energy shortages in Europe or not, as Wood estimates, placing Greek GDP growth at 6%, led by the excellent performance of tourism, the funds flowing in from EU. and the thematic, as he characterizes it, course of […]