Economy of Greece

Bulgaria continues to rank at the bottom of the European Union in terms of material well-being and GDP per capita for 2023, according to the latest data from Eurostat. The country's "actual individual consumption" (AIC) is 30% below the EU average, which is equivalent to 70% of the European average.

Greek stocks had a mixed session on Monday, with banks showing a rather contained reaction to the government measures expected to cost them over 300 million euros, according to estimates. The benchmark lost some ground, but mid-caps saw their index advance, with rising stocks narrowly outnumbered by decliners.

The Hellenic Confederation of Commerce and Entrepreneurship (ESEE) has identified serious irregularities in the functioning of the banking system in Greece, noting that, in addition to charging high interest rates, Greek banks are not fulfilling their essential role, that of granting loans.

Huawei Greece announced on Thursday the launch of its European logistics hub in the port of Piraeus, with the cooperation of Piraeus Container Terminal (PCT), at an event that the government also greeted as a vote of confidence in the Greek economy's outlook.

The Greek economy continues its growth trajectory, as the Economist’s annual ranking places Greece in third place globally alongside Denmark, up from first place last year.

Spain tops the list this year, with Ireland coming in second.

Greek stocks ended their rising streak on Tuesday, after six sessions of growth for the benchmark, though the profit-taking appetite of traders was quite moderate.

Alexis Patelis announced his resignation through his Facebook account, stating he will stay on as head of the Prime Minister’s Economic Office until the end of the year.

Scope Ratings has given Greece an early Christmas present, upgrading Greece’s sovereign rating to BBB with a stable outlook.

Scope Ratings credit rating agency upgraded on Friday the Greek economy to "BBB" with a stable outlook, from "BBB-" with a positive outlook.

Scope was the first agency recognized by the European Central Bank to give Greece investment grade in August 2023 and is now the first to upgrade its creditworthiness within investment grade.