Εβδομαδιαία Επισκόπηση 22-28 Μαρτίου 2016

Domestic political uncertainty is expected to heighten in the coming months

CBRT proceeds unexpectedly with a change in its interest rates for the first time in 13 months

Tourist arrivals decline by 8.5% y-o-y in the first two months of the year

Banking system moves back “into the black” in FY:16, more than reversing the FY:14 sharp loss

Profitability of the banking system improves in FY:15, due to lower provisioning and higher pre-provision earnings

Public debt reaches a worrying level (of 76.6% of GDP) in 2015

Fiscal performance improves slightly in the first two months of the year, with the 12-month rolling budget deficit narrowing to 3.4% of GDP

Tourist receipts stand at a record high of EUR 240.4mn (2.5% of GDP) in FY:15

Tourist arrivals reach an all-time high of 21.7k in January

Unemployment rate declines in 2015, for the first time in 3 years

Fiscal performance improves slightly in January, with the 12-month rolling fiscal deficit easing to 0.4% of GDP

Unemployment rate retreats in 2015, for the first time in 6 years

A negative fiscal performance in the first half of the fiscal year, with the underlying 12-month rolling deficit reaching the unsustainable level of 12.7% of GDP in December