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High inflation has resulted in a reduction in real wages and an increase in the tax burden in OECD countries in 2022, the Organization for Economic Co-operation and Development finds in its report (Taxing Wages).
Prime Minister Kyriakos Mitsotakis visited Schimatari, Thebes and Livadia yesterday.
The European Commission has announced that the process that will allow European Union companies to register their needs for purchasing natural gas through the "AggregateEU" mechanism has started yesterday, which will prepare for the joint purchase of gas at EU level.
A primary surplus of 3.079 billion euros was presented by the execution of the budget between January and March 2023, against a target for a primary surplus of 28 million euros and a primary deficit of 1.650 billion euros for the same period in 2022, according to the final data announced the Ministry of Finance.
Over the weekend more than 7 million property owners will receive their ENFIA liquidation bills, which will have to be paid either in one lump sum by the end of May this year or in 10 monthly installments until February 2024.
The position of Permanent Representative in the Permanent Greek Delegation to the Organization for Economic Cooperation and Development (M.E.A. O.O.S.A.) is assumed by Professor Mr. George Pagoulatos.
The future perspectives and opportunities that are important for companies in the sector to take advantage of, are highlighted in the recent survey by KPMG in Greece, "The Future of Industry: Focus on Plastics Manufacturing".
There are 507 funding applications submitted to the "Smart Manufacturing" Action, which is implemented by the Ministry of Development & Investments, the General Secretariat of Industry and the Special Service for the Management and Implementation of Industry - Trade & Consumer sectors, the Economic Chamber of Greece and the Technical Chamber of Greece, within the framework of the National Recovery and Resilience Plan - Greece 2.0.
For businesses in the Accommodations sector with the obligation to keep duplicate books, for which data are available on a monthly basis, the turnover in February 2023 amounted to 90,463,315 euros, marking an increase of 27.0% compared to February 2022, where had risen to 71,213,744 euros.
The average General Index of the twelve months March 2022 - February 2023, compared to the corresponding index of the twelve months March 2021 - February 2022, showed an increase of 29.4%.
Regular budget revenue stood at 13,898 million euros, up from 11,842 million euros last year. Regarding regular budget expenditures, they amounted to 15,454 million euros.
In the Department of Supply Chain Management of the International University (DIPAE) in Katerini, the word unemployment is unknown as 84% of its graduates find a job within six months of receiving their degree. It is, in fact, typical that 20% of students are absorbed into work by the company in which they did their internship, before getting a degree.
The plan for new price tags on produce in supermarkets is finally getting flesh after reports that food and other industries are pushing for increases, reducing quantities and shrinking packaging.
Inflation in Greece was 5.4% in March 2023 (from 6.5% in February), while 6.9% is the corresponding rate at the Eurozone level, according to Eurostat's final data, published yesterday. confirming initial estimates.
New drugs have been added to the list of those in long-term shortage, by the National Medicines Agency. The list now includes… 235 preparations. These include preparations for diabetes, respiratory diseases, thrombosis, antibiotics, antihypertensives and paracetamol preparations.
A rally of continuous price appreciation is recorded in the building materials sector, with the consequence that the construction costs of newly built properties are increasing at a rate of more than 15% and accordingly affecting the commercial value of the average residence and small business premises.
After the extremely strong performance of tourism in our country in 2022, the data we have so far make us optimistic that this season will be even more successful. I'm talking about facts not predictions, as the tourist season has already started - earlier than ever.
The Evaluation Study prepared by Grant Thornton brought full justification for the choices of the Ministry of Development and Investments in the financing of recycling infrastructure.
The payment of the Transport Equivalent to the beneficiaries of the three branches (passengers, fuel, businesses) of a total amount of 40,000,000.00 euros is immediately promoted, after the approval of the relevant credits by the Ministry of Development and Infrastructure to the Ministry of Shipping and Island Policy.
In 96.02% of the products included in the "Household Basket", the prices are reduced or remain constant in the 24th week of its application (12/4/2023 -18/42023), which is also the second week of application of the "Basket of Easter" (includes, in addition to other products, lamb, goat, bun and chocolate eggs).
National Bank, responding with a sense of social responsibility to market conditions, designed and announced targeted programs for its customers, mortgage holders.
IOBE sees growth of 2.4% and average annual inflation of 4.3% for this year in its report for the 4th quarter of 2022, at the same time noting a tendency for the economy to become more and more extroverted despite the uncertainty and international risks.
Price increases, but at two speeds, are shown by transactional activity regarding the purchase and sale of houses in Attica, the Argosaronic Islands and the Cyclades over the last two years, according to data from the Registry of Real Estate Transfer Values, a digital tool of the General Secretariat of Information Systems , edited by the TOPO GES technical office (in collaboration with RE/MAX Estate).
The energy market acted as a catalyst for the fall in inflation in March.
In the end, the exception that Greece requested and received from the Commission to calculate the mandatory reduction in natural gas consumption by 15% compared to the previous year and not to the average of the previous five years turned out to be unnecessary.
Eurozone retail sales edged lower in February, erasing January's rise, as households showed continued pressure from high inflation and rising interest rates.
The Hellenic Statistical Authority announced that during the month of March 2023, 22,682 cars (new or used foreign) were released for the first time, compared to 17,661 that were released in the corresponding month of 2022, showing an increase of 28.4%.
Piraeus Bank, responding responsibly to the issue of the burden on family budgets from the rise in international interest rates and the broader inflationary pressures, is proceeding with the implementation of a new program to reward borrowers with up-to-date mortgage debts of variable interest rates, regardless of duration and currency.
AADE's machines are in full swing, in order to catch in its "nets" the "forgetful" who hide from the Tax Office income from salaries, pensions, real estate, interest and dividends that they receive from abroad or do not declare retroactive amounts of wages. Also, the target is professionals and entrepreneurs who are active mainly in the tourism sector who, while they are active, submit zero VAT returns, thus hiding their income.
The further slowdown of inflationary pressures in March was confirmed by the Hellenic Statistical Authority.
A zero primary deficit for 2022 was announced by Finance Minister Christos Staikouras, speaking at the Ministry of Finance's event on the theme: "Greek Economy: Resilience - Progress - Prospects", with Prime Minister Kyriakos Mitsotakis as speaker, in the presence of Eurogroup President Pascal Donakhios.
The increase in disability allowances was announced by Kyriakos Mitsotakis, announcing that this is the last provision of the government before the elections. This covers: a) Mobility allowance of 165 euros for people with amputation or paralysis of both limbs with a disability of more than 80%. With the increase, it will rise to 178.2 euros. b) Nutritional allowance for kidney patients, heart and liver transplant recipients, etc. 362 euros per month. It will rise to 390.96 euros. c) Financial assistance program for people with severe disabilities. It concerns people with a) Physical, mental or mental illness or disability with a disability rate of 67% or more, b) End-stage chronic renal failure and a disability rate of 80% or more, regardless of nutritional allowance, c) Type 1 diabetes insulin-dependent with disability rate of 50% or more. It is 313 euros per month. It will be 338.04 euros per month. d) Financial support program for people with severe mental retardation. It amounts to 527 euros per month and with the increase it will reach 569.16 euros. e) Financial assistance program for paraplegics, quadriplegics and amputees, uninsured and insured by the State. The amount of money paid to the beneficiaries amounts to 771 euros per month, which will amount to 832.68 euros. For people with a single amputation, the amount paid amounts to 330.40 euros per month and will be 356.83 euros. f) Strengthening of people with congenital hemolytic anemia (mediterranean - sickle cell - micro sickle cell, etc.) or congenital bleeding disposition (hemophilia, etc.), Acquired Immune Deficiency Syndrome (AIDS). The amount of money paid to beneficiaries suffering from Mediterranean anemia amounts to 362 euros per month and with +8% it will be 390.96 euros, while to those suffering from hemophilia - AIDS it amounts to 697 euros per month and will reach 752.76 euros. g) Financial assistance program for deaf and hard of hearing people. The amount of money paid monthly to the beneficiaries amounts to €362 per month and will reach €390.96. h) Financial assistance program for visually impaired people. The monthly amount of money paid to the beneficiaries is as follows: Employees, Pensioners 362 euros and it will be 390.96 euros. Unemployed unemployed / directly insured unemployed / indirectly insured / non-working students 697 euros, which will rise to 752.76 euros. Working students 362 euros and it will reach 390.96 euros. Graduate workers 362 euros and with the increase it will go to 390.96 euros, Practicing Lawyers / Lawyers who are proven to practice law at 697 euros per month, which with +8% will rise to 752.76 euros. University level scientists (HEIs), who according to their degree practice their science, 697 euros and will reach 752.76 euros. i) Financial support program for people with cerebral palsy. The amount of money paid to the beneficiaries amounts to 697 euros per month and will be 752.76 euros. j) Financial support for patients and recovered lepers and members of their families. The amounts paid are as follows: Leprosy patients who are treated as inpatients at the Chronic Diseases Hospital of Attica (THCHPA), 362 euros per month, will reach 390.96 euros. Leprosy patients who are hospitalized at home and are away from work due to the disease, 697 euros per month and with +8% it will rise to 752.76 euros. Those who have recovered from Hansen's disease, who have been discharged or are being discharged: with a discharge from the Hospital for Infectious Diseases of Athens or from the former Public Hospital for Infectious Diseases of Athens (DNLNA) or the former Center for Social Rehabilitation of Leprosy Patients (KKACH), regardless of the length of their stay in them, or remain in their family environment, 697 euros per month which with the increase will rise to 752.76 euros. Dependent members of the family of the leprosy patient (spouse, parents, unmarried sisters, minor siblings or those who cannot work due to disability or illness and are financially supported by him) and for as long as he is hospitalized at the HCPA, 362 euros per month, will reach 390.96 euros. Minor children of the leprosy patient, 362 euros per month, will reach 390.96 euros.
The economic sentiment index continues its upward trend for the fourth month in a row, as it also strengthened in February and now stands at 107.5 points compared to 105.9 points in January.
The Hellenic Livestock Association (SEK), the Panhellenic Association of Livestock Breeders (PEK) and the Coordinating Committee of Eastern Macedonia-Thrace expressed their strong opposition to the possibility of including lambs in the "Easter basket", following relevant statements by the Minister of Development and Adonis Georgiadis Investments.
The Ministry seeks to facilitate debtors who, due to the circumstances, face great difficulties in meeting their obligations. Finance with the new round of debt arrangements.
Today begins the advance payment of the regular unemployment benefit, the long-term unemployment benefit, the work allowance and the self-employed unemployment allowance, as well as the advance payment of the Easter Gift to subsidized unemployed persons, beneficiaries of the employment benefit, beneficiaries of the special maternity protection benefit and beneficiaries of the parental leave allowance.
The first supply of Liquefied Natural Gas (LNG) in Greece via a tanker from Revythoussa was carried out by MYTILINEOS, in collaboration with BlueGrid, while Coral also carried out the first LNG supply.
Losses exceeding 30 million euros are recorded in the income of table grape producers in Corinth, who are in a particularly difficult position.
The elections have been set for May 21 and are very likely to be held in two "rounds", as Goldman Sachs points out. However, the Greek economy appears well positioned for an improvement in its outlook and possibly an upgrade to investment grade from S&P on April 21, thanks to private credit growth, a continued recovery in capital formation and an improvement in the debt-to-GDP ratio. GDP even amid rising debt costs.
The Pottery of Northern Greece (KEBE), with its eyes on 2030 and the green transition, is investing in the production and storage of energy through four licenses for the production of electricity using storage batteries secured by the Energy Regulatory Authority (RAE). With an annual capacity of 700,000 tons of bricks and 75,000,000 pieces of roof tiles and accessories, the company with this investment seeks to ensure production volumes, minimizing its environmental footprint.
The Athens Chamber of Commerce is organizing an informal debate on the planning of the parties in the critical sectors of the economy and entrepreneurship, on Sunday, April 9, at 12:00, at the Athens Marriott Hotel.
Bitcoin rose 5% yesterday to reach $28,474, re-crossing the $28,000 level after falling below it on Monday.
The procedure for the issuance of the five-year bond by ODDIX has been completed. and demand was strong as it exceeded €19.1 billion. The initial guidance given to investors for the rate was 95 basis points above mid swaps, or 3.97%, and was cut to 90 basis points above mid swaps, or 3.92%.
Greek banks are resilient and armored, however the problem of bad loans, which is likely to worsen due to the increase in interest rates, will require at least another five years in order to be settled definitively.
The Smart Readiness Voucher Scheme action is entering the implementation phase, which concerns the provision of a subsidy of a total amount of 100 million euros, in order to upgrade the technological infrastructure of 120,000 buildings throughout the country.
ODDIX mandated BNP Paribas, Citi, Deutsche Bank, Morgan Stanley, Nomura and Piraeus Bank, who will act as underwriters. In the near future, depending on market conditions, the auction.
The submission of consolidated customer-supplier statements may have passed into tax history, but thousands of taxpayers are receiving a beating these days from the AADE, because they were not consistent with this obligation in 2017. The omission of this obligation in 2017 now brings a 30-day deadline for the payment of a fine of 100 euros.
Individuals' deposits were distributed in February as they decreased by 1.5 billion euros, while the annual financing rate of the economy also recorded a decrease, which was 5.5%, in the same period compared to 6.3% in January.
The president of the Eurogroup, Pascal Donachiou, will be in Greece next week to participate in an event organized by the Ministry of Finance on the course of the Greek economy.
The primary surplus of €4,215 million, against a target of €1,816 million and a primary surplus of €840 million for the same period in 2022 confirm the final figures for the execution of the budget in the period January-February 2023.
