GREECE
Macro/Political:
- Preliminary data released by the MoF showed that the State Budget balance on a modified cash basis for January 2026 presented a surplus of EUR 2,287mn, against the target of EUR 543 mn and a surplus of EUR 758mn for the same period of 2025. The State Budget Primary Balance amounted to a surplus of EUR 3,510mn, against the primary surplus target of EUR 1,751mn and a primary surplus of EUR 1,980mn in the same period of last year. Excluding an amount of EUR 1,272mn euros relating to time differentiation of transfer payments to general government bodies, as well as an amount of EUR 379 mn relating to time differentiation of investment expenditure, which do not affect the General Government’s result in fiscal term.
Source: Ministry of Finance
- Greece yesterday, signed lease contracts for four offshore areas off Crete and the Peloponnese with a joint venture between Chevron and Helleniq Energy, which was named the preferred investor in October 2025. The agreement, signed at the Maximos Mansion, comes as Athens seeks a central role in the emerging US-shaped energy architecture in Europe and the Eastern Mediterranean. According to Kathimerini, the minimum guaranteed costs for the first phase, consisting of two-dimensional seismic surveys, exceed EUR 20 mn. The second phase, involving 3D surveys, is estimated at EUR 24 mn, while the third phase, which includes drilling, anticipates an investment of EUR 100 mn.
Source: Kathimerini
CYPRUS
Macro/Political:
- According to data released by Cystat, Cyprus’ GDP growth rate in 4Q25 is estimated at 4.5% (y-o-y) and 1.4% (q-o-q).
Source: CyStat
- In October 2025, the number of building permits authorized by the municipal authorities in Cyprus stood at 855. During the period January – October 2025, 6,490 building permits were issued compared to 5,955 in the corresponding period of the previous year, recording an increase of 9%. The total value of these permits increased by 27.7% and the total area by 30.7%. The number of dwelling units recorded an increase of 33.1%.
Source: CyStat
