GREECE
Macro/Political:
- Responding to a question from Naftemporiki, about the impact of the Middle East conflict, Greg Kiss, an analyst at Fitch, stressed that the war represents another shock to the global economy, primarily through energy markets. However, he noted that Greece enjoys a certain degree of protection. More specifically, the Fitch analyst stated that the agency’s view is that the conflict could last less than a month, and under such a scenario Greece’s economic growth rate could remain close to 2%. Furthermore, he added that Greece benefits from being a member of the Eurozone under these circumstances. However, he noted that the Greek economy has a clear vulnerability: the country’s dependence on energy imports, which could affect the economy mainly through higher prices. Finally, Kiss commented on the strong improvement in the country’s labour market and the very strong fiscal performance. He also presented the agency’s expectation that public debt will continue to decline and highlighted the key challenge for the Greek economy, which is Greece’s GDP per capita relative to the EU average.
Source: Naftemporiki
Markets:
- Piraeus Bank will announce 1Q26 Financial Results on Thursday 30/04/2026.
Source: ATHEX
CYPRUS
Macro/Political:
- Cyprus’ tourism industry has been disrupted by cancellations following the US-led war against Iran and the drone strike on RAF Akrotiri, with hotel bookings 25-30% down, according to Phileleftheros. However, sector leaders say it is too early to assess the full extent of the damage and remain hopeful that the summer season can still recover. According to the head of the Cyprus Hotels Association, Thanos Michaelides, cities of Paphos and Limassol, where many hotels operate year-round, recorded immediate cancellations linked to flight disruptions.
Source: PhileNews
