GREECE
Macro Political
• Speaking at the Delphi Economic Forum X, Minister of Economy and Finance Kyriakos Pierrakakis stated that the Government will adopt a very cautious approach to fiscal policy and will increasingly focus on reforms and initiatives that unlock the country’s growth potential. Mr. Pierrakakis once again ruled out the payment of 13th and 14th salaries to government employees and pensioners, as this would have a significant impact on the State’s budget.
Source: Capital.gr
Markets:
• DBRS upgraded NBGs long term credit rating to BBB from BBB (low), trend remains stable. The credit rating upgrade and stable trend reflect the fact that NBG has consistently improved profitability levels while also strengthening asset quality further.
Source: DBRS
CYPRUS
Macro Political
• Provisional data released by CyStat showed that in the period of January-February 2025 the trade balance was in deficit of EUR 1,247.4mn compared to a deficit of EUR 1,144.7mn in the corresponding period of 2024. Total imports of goods in February amounted to EUR 1027.2mn (+18.9% y-o-y) while total exports were EUR 476.4mn (+73.8% y-o-y).
Source: CyStat
