GREECE
Macro/Political:
- The Greek PDMA announced that during the 26W T-Bills auction of EUR 400mn which took place yesterday, the total bids reached EUR 1,001mn and the amount finally accepted was EUR 500mn at a uniform yield of 2.44% (vs 2.38% in the previous 26W T-Bills auction in October 2026).
Source: PDMA
- In July 2026, the number of issued building permits in Greece amounted to 2,873 (-8.3% y-o-y). In the last twelve months from July 2025- July 2026, Total Building Activity (private public) in Greece recorded a 7.9% increase in the number of issued building permits compared to the corresponding period of 2024-2025.
Source: ELSTAT
- The annual growth rate of total credit extended to the domestic economy decreased to 2.4% in September 2026, from 3.5% in the previous month. The annual growth rate of total deposits stood at 9.1% in September 2026, unchanged from the previous month. The monthly net flow of total credit was positive by EUR 744mn in September 2026, compared with a negative net flow of EUR 250 mn in the previous month. The monthly net flow of total deposits was negative by EUR 3,140mn compared with a positive net flow of EUR 2,9791 mn in the previous month.
Source: Bank of Greece
- S&P Global Ratings’ Head Analyst for Greece, Mr Samuel Tilleray, gave an interview to Naftemporiki, in which he mentioned, among other things, that Greece maintains strong fiscal performance and economic growth above the EU average. However, a persistent current account deficit keeps the economy reliant on external financing and remains, according to S&P, the main obstacle to a credit rating upgrade. Furthermore, the analyst added that the agency expects Greece’s economic growth to reach 2%, while the primary balance is projected to record a surplus of 3.8% of GDP. At the same time, the current account deficit is expected to widen to 7% in 2026 before gradually narrowing. Moreover, Tilleray mentioned that the Greek economy has grown faster than the EU economy as a whole. However, the gap in GDP per capita remains significant. In 2019, Greece’s GDP per capita stood at 47% of the EU average, while S&P expects this figure to reach 55% by the end of 2029. This represents significant progress: however, the figure will remain significantly below the EU average. Faster convergence towards the EU average will require stronger GDP growth, further improvements in the labour market and the strengthening of higher value-added sectors. Also, he added that Greece’s total debt is declining but remains very high. Finally, he highlighted that the end of the Recovery and Resilience Facility (RRF) will pose a new challenge for Greece, as investment growth will need to be sustained through greater reliance on domestic resources.
Source: Naftemporiki Print Edition (29 October, pg.9)
Markets:
- Athens International Airport announced that passenger traffic in 9M26 reached 27.3mn, up 4.3% (y-o-y). Total revenue and other income stood at EUR 530mn, up 0.6% (y-o-y), supported by passenger traffic growth and solid performance in non-air activities. Adjusted EBITDA reached EUR 331.2mn, down 1.3% (y-o-y), while net profit stood at EUR 173.5mn, down 6.6% (y-o-y).
Source: Euronext Athens
- Further to its announcements dated 13 October 2025 and 7 May 2026, Eurobank announced the completion of its acquisition of Eurolife Life.
Source: Euronext Athens
