Monthly Reports

February 2022

Greece’s Financial News Residence permits for investment purposes for Russian citizens in Greece are suspended By decision of the Minister of Immigration and Asylum, Mr. Notis Mitarakis, the suspension of the examination and issuance of a decision on pending applications for renewal of residence permits pursuant to Articles 16 and 20 B of Law 4251/2014 submitted by citizens of the Russian Federation and Belarus, including their family members, is removed. The suspension of the submission of new applications for residence permits as well as applications for the renewal of residence permits by citizens of the Russian Federation and Belarus, which fall into...

11/04/2022Monthly Reports 53
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January 2022

Greece’s Financial News Increase of new buildings Investment in new buildings increased by almost 10% during 2021. According to a recent study, the upward trend of new buildings is associated with a 2% increase in the prices of new buildings in 2018 and 7.7% in 2019, respectively. In the period from 2008 to 2017, the average annual decrease in the prices of new housing constructions was 6.3%. The return of manufacturers to the market was also encouraged by the fact that in the last two years, the growth rate of sales prices was higher than the corresponding manufacturing costs; something that happened...

28/02/2022Monthly Reports 57
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December 2021

Greece’s Financial News Private sector deposits increased by 4.3 billion in December A new surge by 4.3 billion euros was recorded in December 2021 in private sector deposits in banks, the total amount of which reached 180 billion euros, a level that has not been recorded since September 2011. Cumulatively, the deposit growth in the last two years, and specifically since March 2020, has reached 35 billion euros and is a record level that, as a matter of fact, occurred in pandemic conditions, with successive lockdowns in the economy for several months. The increase recorded in December is attributed both to the...

04/02/2022Monthly Reports 11
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November 2021

Greece’s Financial News Travelers to enter Greece with a 72-hours PCR or 24-hour rapid test The Minister of Health announced that in the context of the effort to control the Covid-19 pandemic, our country will accept visitors from all countries with the demonstration of a negative polymerase chain reaction (PCR) test of 72-hours (instead of 48-hours as originally announced), or a 24-hour rapid test. The tests concern all those who are over 5 years old. It is noted that the above measure concerns both vaccinated and unvaccinated people. The directive is effective "from 19/12 at 6.00 in the morning, at all entry...

05/01/2022Monthly Reports 53
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October 2021

Greece’s Financial News Inflation: Greece recorded the third lowest at EU level for October 2021 Greece recorded the third lowest inflation at European Union level in October, based on latest data from Eurostat, with energy firmly playing a key role in price increases across Europe. Prices in Greece compared to October 2020 increased by 2.8%, clearly lower than the average in the EU, which amounts to +4.4%. It is noted that in all member states of the Union the annual rate of price increases was higher in October compared to September. In fact, significant increases were recorded in the four largest economies...

22/11/2021Monthly Reports 9
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September 2021

Business loans are “up and running” In the past two months banks have been launching sensational campaigns for granting loans. Having started from the category of small loans amounting to 5,000-25,000 euros, they offer large loans of more than 100 million euros which are serviced and they will make new disbursements to the categories of small and medium-sized practitioners, which will also be combined with the sales of new products (e.g. insurance). As stated by the Bank of Greece, the increase of grants was also accompanied by the increase of margins on new loans. Reopening of trade fairs under a specific health...

19/10/2021Monthly Reports 8
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