GREECE
Macro/Political:
- The seasonally adjusted unemployment rate in April 2026 amounted to 9.5% compared to the upward revised 9% in April 2025 (y-o-y) and to the upward revised 10.4% in April 2026.
Source: ELSTAT
- The Overall Turnover Index in Retail Trade in March 2026 increased by 6.1% (y-o-y) and 4.2% (m-o-m). The Overall Volume Index in Retail Trade increased by 3% (y-o-y) and 0.7% (m-o-m).
Source: ELSTAT
Markets:
- GEK TERNA posted adjusted net profits of EUR 34.6 mn in 1Q26, representing an increase of 33.2% y-o-y. Adjusted EBITDA also increased by 22.4% year-on-year to EUR 165.9 mn, with the respective margin improving to 16.7% from 13.7% in the corresponding period of the previous year.
Source: Athens Euronext
- Allwyn announced the completion of its re domiciliation to Switzerland, representing the final step in connection with the business combination transaction with OPAP S.A. Allwyn has completed the cross-border conversion process through the transfer of its registered seat from the Grand Duchy of Luxembourg to Switzerland on 29 May 2026.
Source: Athens Euronext
CYPRUS
Macro/Political:
- Moody’s affirmed Cyprus’ credit rating at A3 with a stable outlook. According to the agency, the A3 rating reflects the country’s high wealth levels and strong economic growth performance, which is expected to remain robust over the medium term, although moderating in the near term as risks stemming from conflicts in the Middle East weigh on tourism and contribute to inflationary pressures. Moody’s also highlighted that the government recorded a fiscal surplus of 3.4% of GDP in 2025, while public debt declined to 55.3% of GDP. The agency forecasts fiscal surpluses of 2.3% of GDP in both 2026 and 2027, with public debt projected to fall further to 37.7% of GDP by 2030. The stable outlook reflects a balanced assessment of risks to the country’s economic, fiscal, and debt prospects. Moody’s noted that susceptibility to event risk is mainly linked to the banking sector and political developments, both of which are currently viewed as contained. According to the agency, upward pressure on the rating could emerge if Cyprus’ fiscal and debt metrics consistently outperform current forecasts. In addition, the development and exploitation of natural gas resources, which are not currently incorporated into Moody’s economic and fiscal projections, could support positive rating momentum over the medium term. Conversely, downward pressure on the rating could arise if fiscal and debt outcomes fall materially short of expectations, resulting in a reversal of the public debt ratio’s declining trajectory.
Source: Moody’s
- Preliminary data released by CyStat showed that the General Government fiscal balance for the period of January- April 2026 presented a surplus of EUR 593.4mn (1.5% of GDP) compared to a surplus of EUR 614.0mn (1.7% of GDP) in the same period of 2025. Primary balance recorded a surplus of EUR 770.7mn versus a surplus of EUR 762.7mn in the corresponding period of 2025. During Jan- Apr 2026 total expenditure increased by EUR 215,0 mn (+5.1%) to EUR 4,401mn from EUR 4,186.7 mn in the corresponding period of 2025. Total revenue increased by EUR 194.4mn (+4%) to EUR 4,995.1 mn compared to EUR 4,800.7mn in the same period of 2025. Particularly, in April 2026 the General government fiscal balance presented a surplus of EUR 47.5mn (Primary balance surplus EUR 121.9mn).
Source: CyStat
- The number of unemployed persons in 1Q26 amounted to 21,246, recording a a decrease of 5% (y-o-y). The unemployment rate in 1Q26 stood at 4%.
Source: CyStat
