GREECE
Macro/Political:
- Preliminary data released by the MoF showed that the State Budget balance on a modified cash basis for January – May 2026 presented a surplus of EUR 91mn, against a target of a deficit of EUR 2,176mn and a surplus of EUR 1,875 for the same period of 2025. The State Budget Primary Balance amounted to a surplus of EUR 3,638mn, against the primary surplus target of EUR 1,243 mn and a primary surplus of EUR 5,343mn in the same period of last year. It is noted that EUR 31 mn relating to time differentiation of payments of defence programs, an amount of EUR 473 mn relating to time differentiation of investment payments and an amount of EUR 64 mn relating to time differentiation of current transfers to General Government entities, which do not affect the General Government’s result in fiscal terms, as well as, an amount of EUR 135 mn from the 2nd instalment of the price for granting the license to operate a casino in Elliniko, which is fiscally recorded during the concession years, an amount of EUR 884 mn of the early RRF revenues and an amount of 574 million Euros of the early PIB revenues, the over execution in the primary balance on a modified cash basis, in comparison to the budget targets is EUR 234 mn.
For January –May 2026, State Budget net revenues amounted to EUR 30,203mn, showing an increase of EUR 2,516mn against the target. State Budget expenditures amounted to EUR 30,112mn, EUR 249 mn lower than the target.
Source: Ministry of Economy & Finance
- Greece repaid EUR 6.9 bn of its first bailout loans ahead of schedule. The loans were part of the GLF agreed in 2010, under which eurozone governments provided approximately EUR 53 bn in bilateral support at the height of the debt crisis. According to Reuters, Greece still has about EUR 20 bn of these loans outstanding.
Source: Reuters
- Minister of Environment and Energy Stavros Papastavrou and the CEO of the Hellenic Hydrocarbons and Energy Resources Management Company (EDEYEP), Aristofanis Stefatos, confirmed on Monday that the regulatory process for Chevron’s entry into Block 10 in the Gulf of Kyparissia has now been finalized. It is also worth noting that Block 10 was previously held by Helleniq Energy, which has transferred a 70% stake to Chevron following a joint request for participation in the concession. Furthermore, U.S. Ambassador to Greece Kimberly Guilfoyle stated that the partnership “deepens and strengthens the region’s energy architecture” and helps position Greece as “a dynamic regional hub.”
Source: Kathimerini
Markets:
- Athens International Airport announced that it has mandated Goldman Sachs and Morgan Stanley as joint global coordinators to arrange on its behalf a series of fixed income investor calls, for a potential fixed rate EUR 500mn, 7-year senior unsecured notes. The net proceeds from the notes will be used for the Company refinancing of existing indebtedness and general corporate purposes.
Source: Euronext Athens
- Bally’s Intralot announced that it has entered into a Total Return Equity Swap agreement with a financial institution established in the EU. The agreement has an expected duration of 12 months, during which the bank may, but is not obligated to, acquire listed shares of the company in its own name and using its own funds. Any share acquisitions by the bank under the agreement will be made within a price range of EUR 0.80 to EUR 1.50 per share. The maximum aggregate amount available for share purchases under the agreement is EUR 50 mn, corresponding to a maximum of 62.5 mn shares.
Source: Euronext Athens
