MacroPolis

The Hellenic Statistical Authority (ELSTAT) has released a set of data showing the impact of the coronavirus pandemic on businesses in Greece.

Greece’s trade deficit fell by 10.3 percent year-on-year (YoY) in June compared to a drop of 47.7 percent in May, data from the Hellenic Statistical Authority (ELSTAT) released on Friday showed.

The OECD 2020 report on Greece highlights a persisiting lack of R&D and innovation in the economy and lower productivity compared to other countries.

A survey by Ernst and Young (EY) has revealed that investor interest in Greece has remained steady throughout the coronavirus pandemic.

Naftemporiki newspaper in collaboration with polling company Rass and Forum2020.gr have released a study illustrating the thoughts of businesses on the coronavirus pandemic in Greece.

Amid considerable fanfare, Prime Minister Kyriakos Mitsotakis oversaw the start of demolition work at the site of the former Athens airport in Hellinikon on Friday, calling it a symbol of the “new Greece.”

With New Democracy and SYRIZA locked in an intense verbal battle over alleged scandals, the impact of the coronavirus on the Greek economy has moved down the political agenda for now.

Greece completed its third market foray for the year by issuing a 10-year bond of 3 billion euros. The coupon was 1.5 pct and the yield settled at 1.57 pct, suggesting a re-offer price of 99.375. The spread was close to 188 basis points.

Greece’s national airline, Aegean Airlines, has sounded the alarm over its first quarter (Q1) results which showed a sharp drop in revenues in the third month of the quarter, dragging the entire quarter down.

Greece’s privatisations have stalled under the coronavirus pandemic, with most major privatisations making no progress.