Prime Minister Kyriakos Mitsotakis is trying to get ahead of the evolving OPEKEPE scandal by promising tough action and insisting that the involvement of government officials in the affair is limited, and will not require any further resignations beyond the four cabinet members who left their posts last week.
Greece’s Manufacturing PMI was again virtually unchanged in June at 53.1 points, from 53.2 in the previous month, according to S&P Global data released on Tuesday.
The credit expansion in the Greek private sector remained strong in May, rising by 11.3 percent year-on-year (YoY), from 10.9 percent in the previous month, Bank of Greece (BoG) figures released on Monday showed.
Greek banking system’s private sector deposits grew in May, with a net increase of 1.22 billion euros, after a 795-million-euro drop in April, according to the latest Bank of Greece (BoG) figures released on Monday.
Greece’s Producer Price Index (PPI) picked up pace in May, with a rise of 2 percent year-on-year (YoY), after an increase of 0.5 percent in April, ELSTAT data showed on Monday.
Greece’s retail sales had a market rise of 7.6 percent year-on-year (YoY) in April, after growth of 1.1 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Prime Minister Kyriakos Mitsotakis has suffered another serious blow to his image and his government’s fading prestige following the ousting of several members of the cabinet in connection to the farm subsidy scandal, which is emerging as a much more serious threat to New Democracy than the conservatives had initially estimated.
The issue of Libya is a concern again for the Greek government and its diplomats.
There was a small slide in Greece’s economic sentiment (ESI) in June to 106.1 points, from 107 in the previous month, according to European Commission figures released on Friday.
Building activity tumbled in March with a collapse of 41.3 percent year-on-year, after a sharp drop of 21.9 percent YoY seen in February, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday.
