Economy of the United States

The Public Debt Management Agency (PDMA) announced on Friday that this Wednesday it will auction 13-week treasury bills in book entry form to the amount of 625 million euros.

The issue matures on May 7 and the settlement date is this Friday.

The overdue debt owed by Greeks to the state and financial institutions - i.e. banks and funds - is more than the country's gross domestic product, reaching 224.2 billion euros.

Reducing the ratio of debt-to-gross domestic product at the fastest rate in Europe, achieving higher positions in the rating agencies' scales and further reducing the cost of servicing the country's borrowing, are the three main objectives set by the financial staff for the crucial issue of managing the Greek debt.

The Public Debt Management Agency announced it will auction 52-week treasury bills on Wednesday to the amount of 375 million euros, in book entry form, with maturity on December 6, 2024.

The settlement date is this Friday.

The already very important performance recorded by Greece internationally in terms of debt-to-GDP ratio reduction will continue over the next seven years, as Moody's estimates, thanks to the strong growth of the Greek economy, the very favorable public debt profile, as well as the very good management strategy.

In response to a question regarding Christmas supplements for pensioners in December, Finance Minister Asen Vassilev revealed that pensions would be increased by approximately 11% in the coming year. This represents a shift from the traditional practice of providing Christmas supplements, with the government now prioritizing ongoing pension increases.

Residential property sales in Cyprus hit a 15-year record high in the second quarter of 2023, with a significant increase in prices, according to data released this week by the Central Bank of Cyprus.

The budget deficit in the "State Government" institutional sector for 2022 is 4,859,000,000 leva, NSI reports. This is 2.9% of GDP.

In the years ahead, Greece should take great care regarding its enthusiasm for North American-style mortgages as a vehicle for encouraging homeownership. 

It should look no further than Canada, where a recent report says Canadians are carrying the highest personal debt levels of all G7 countries - much attributed to homeownership. 

After eight months of deceleration, the annual inflation rate has climbed from 38.2 percent in June to 47.83 percent in July, data from the Turkish Statistical Institute (TÜİK) showed on Aug. 3.

Consumer prices rose by 9.49 percent last month from June, when the monthly inflation was 3.92 percent.