Category: macro-economy

In a strategic agreement reached in Rome, the Greek government successfully secured the approval of Italian-owned Hellenic Train for direct investments in the Greek railway system. The commitment by Prime Minister Kyriakos Mitsotakis to ensure a safe railway network with modern trains before 2027 initiated negotiations in Rome for revising the contract with Italy’s Ferrovie…

A cooperation memorandum aimed at strengthening the supply chain, optimizing trade flows, and promoting sustainable and innovative logistics solutions in the shipbuilding sector was signed today (May 15, 2025) between Thrasio Goods Center and Shipyards & Technologies Group, in the presence of Takis Theodorikakos. At the signing ceremony held at the Ministry of Development, Vasileios…

The real estate market appears to be particularly disappointed with the new regulation from the Hellenic Republic Asset Development Fund (HRADF) regarding the New Building Code (NBC). After months of delays, the amendment has been submitted, but according to most contractors, it does not clarify the landscape nor will it boost construction activity. Amid this…

Currently, 227 Local Urban Plans and 18 Special Urban Plans are being developed as part of the initiative announced today (May 14, 2025) by the Minister of Environment and Energy, Mr. Stavros Papastavrou. This will provide Greece with a clear and coherent regulatory framework. Specifically, Mr. Papastavrou described the ‘Konstantinos Doxiadis’ Urban Reform Program as…

The large-scale blackout in Spain that occurred two weeks ago highlighted the importance of a resilient energy grid, especially in an era where electricity dependence is higher than ever. As it was one of the largest blackouts in Europe in decades, many noted differences compared to past outages. For example, older landline phones used to…

For weeks, according to the economic cabinet’s schedule, there has been anticipation for the submission of a bill addressing dormant inheritances. This initiative aims to streamline procedures and strengthen the social housing system while tackling the housing crisis by boosting supply. Sources from the Ministry of Finance indicate that the bill is expected in June,…

Not one, but two measures of differing nature introduced within weeks indicate that the Ministry of Finance (YPOIK) is not only targeting freelancers but also focusing on long-term rentals. According to sources from YPOIK cited by newsit.gr, the new regulations may uncover a ‘hidden treasure’ of tax evasion from undeclared rental incomes. The first intervention…

In a nationwide call to action against drought, Environment and Energy Minister Giorgos Papastavrou addressed citizens and stakeholders today (May 7, 2025) during a workshop organized by the Greek Water Supply and Sewerage Company (EYDAP). In his speech, Papastavrou emphasized that water scarcity is a shared challenge among nations, thanking representatives from the U.S. and…

The undergrounding of the electricity distribution network is a crucial effort, as it will protect our country from threats such as wildfires. Simultaneously, it enhances the aesthetics in every area while reducing maintenance costs compared to overhead lines. The problem is that undergrounding the electricity distribution grid is expensive, costing up to 7-9 times more…

The next event of the Rebrain Greece initiative will take place in the United States, aiming to connect highly skilled Greeks living and working there with companies operating in Greece that seek specialized personnel. This was announced by the Minister of Labor and Social Insurance, Niki Kerameou, speaking at the annual conference of BrainReGain titled…

A marginal increase of 0.23% was recorded in supermarket product prices in April this year compared to the same month last year. However, overall during the rolling 12-month period (May 2024 – April 2025), a decrease of 0.34% was noted. According to research by IEPCA, prices in supermarkets decreased by 0.79% in April compared to…

The seasonally adjusted Purchasing Managers’ Index (PMI) for Greece’s manufacturing sector reached 53.2 units in April, down from 55 units in March. However, the index indicated a steady improvement in operating conditions across the goods-producing sector. Although the main index value declined compared to the previous survey period, it reflected one of the strongest increases…

Today, April 30, 2025, Greece submits its Progress Report on the Greek economy to the Commission in accordance with the new rules of the Stability Pact. A key element of the report, which is submitted every April, involves setting upper limits for primary spending as defined by the Stability Pact. For Greece, this limit stands…

The impact on the Greek economy from the increased tariffs by the US will be limited, according to the assessment of the Governor of the Bank of Greece, Yannis Stournaras. He also forecasted another reduction in the ECB interest rate to 2%. Speaking at the CEO Club, Mr. Stournaras noted that “Greece has minimal dependence…

A mere five seconds were enough to cause Greece to lose 60% of its electricity supply on April 28, 2025. The country witnessed an abrupt disappearance of 15 gigawatts, and it took approximately ten hours for power to return to satisfactory levels. As of now, the exact causes remain unknown. The only available information comes…

Significant changes are coming to railway safety in Greece with the introduction of a new plan. For the first time, a Unified Supervision Center will be established, monitoring all railways 24/7 with immediate intervention capabilities during emergencies. The center includes oversight authorities, representatives from railway companies, police, and fire services. Additionally, the new platform railway.gov.gr…

The European Union has approved €65 million in funding to upgrade waste management facilities in the Peloponnese region. According to the EU announcement, three integrated waste management centers located in Arcadia, Messenia, and Laconia will recover recyclable materials using mechanical processing and produce compost through biological waste treatment. Additionally, two waste transfer stations built in…

Despite the current calm period for energy prices and fuels, the government is already preparing for next summer. There is a sense that last year’s mini energy crisis in Northern Europe could reoccur, potentially driving electricity tariffs higher for consumers. Nothing structural has changed in the regional electricity market, which remains isolated from the rest…

In an era where housing and living needs are rapidly changing, the new Cushman & Wakefield study on the Living Sector confirms what major international institutional investors already know. Residential real estate is not just a rising trend but a strategically significant sector with a steadily growing presence in investment portfolios. The term ‘Living Sector’…

The sectors of table olives and standardized olive oil are in a state of suspense following the recent decision by the US to impose 20% tariffs on all products imported from the European Union. Although the US announced a temporary suspension of these tariffs for 90 days, applicable only to certain countries, the growing uncertainty…

Standard & Poor’s (S&P) met expectations by upgrading Greece to a higher tier of investment grade in its assessment on April 18, 2025. S&P assigned BBB status with stable outlook to Greece’s economy, aligning with recent upgrades by DBRS and Moody’s. This upgrade indicates that Greece has not succumbed to global uncertainties caused by trade…

In what could be considered an ‘Easter gift,’ Standard & Poor’s has upgraded Greece’s credit rating despite global economic uncertainty due to trade wars. The outlook remains stable as the country continues its commitment to fiscal discipline. S&P has raised Greece’s creditworthiness to BBB from BBB-, marking it as the third ratings agency, following Scope…

The festive atmosphere of Easter has officially ended, and as of April 22, 2025, the teams at Greece’s Ministry of Finance are back in action, preparing for major upcoming events that will shape the future of Greek economic stability. The coming months are crucial as the ministry gears up for several key battles to secure…