Pissarides Recovery Plan for Greece Proposes Uniform Taxation

By admin 30 Νοεμβρίου 2020 No comment

Photo source: Hellenic Parliament A single taxation policy for all incomes is at the center of a 10-year plan for Greece’s economic recovery that has opened for public consultation. The 244-page roadmap, based on recommendations of a committee headed by Nobel Prize-winning economist Christopher Pissarides, lays out actions aimed at boosting incomes through improved

Greece’s Tourism, Culture and Agrifood to Benefit from EU Emergency Funding

By admin 27 Νοεμβρίου 2020 No comment

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Photo © Maria Theofanopoulou Aimed at modernizing infrastructure and improving the resilience of the Greek economy, the Greek government announced this week a four- pronged national recovery plan outlining 18 areas, including tourism and culture, set to benefit from a total of 32 billion euros (soft loans included) in EU emergency funds released to help […]

Covid-19 Hits Greek Tourism Industry Full Force, Says ICAP Study

By admin 24 Νοεμβρίου 2020 No comment

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Greece’s tourism industry, one of the country’s major economic drivers and employers, has felt the brunt of the Covid-19 pandemic set to record losses of up to 66 percent, according to the latest study released by ICAP this month. Conducted on a sample of 1,513 Greek businesses in September and October, the study reveals that […]

Covid-19 Drives Greece Travel Receipts Down by 73.9% in September

By admin 24 Νοεμβρίου 2020 No comment

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The ongoing Covid-19 health crisis drove inbound traffic to Greece down by 73.9 percent year-on-year in September to 1,335 thousand and travel receipts by 71.4 percent, according to data released this week by the Bank of Greece. More specifically, the number of passenger arrivals through Greek airports dropped by 63.3 percent and by a massive […]

Greece Tables Tax Break Plan to Attract Relocating Workers

By admin 24 Νοεμβρίου 2020 No comment

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Hellenic Parliament, Athens. Photo Source: GTP As part of an action plan to stimulate growth and remedy brain-drain caused by the Greek debt crisis, Greek Finance Minister Christos Staikouras tabled in parliament a proposed series of significant tax breaks for foreigners or Greeks abroad who chose to return and work in Greece. The measures are […]

Greek Q3 Hotel, F&B Services Turnover Hit Hard by Covid-19

By admin 23 Νοεμβρίου 2020 No comment

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Photo: GTP Greek hotel and F&B services providers saw turnover plunge in the third quarter (Q3) of the year hit hard by the Covid-19 shock with losses coming to 3.2 billion euros, the Hellenic Statistical Authority (ELSTAT) recently announced. More specifically, accommodation sector Q3 turnover slumped by 61.4 percent to 1.56 billion euros against the

Athens Backs Businesses with €1m in Support Actions

By admin 20 Νοεμβρίου 2020 No comment

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Monastiraki square. Photo source: @Municipality of Athens In efforts to keep businesses hit by the Covid-19 pandemic afloat, the Municipality of Athens on Thursday announced the first round of support actions worth 1 million euros. The plan is part of a 40-million-euro Covid-19 relief package aimed at reinforcing the city’s economy during and in the […]

Commission Commends Greece, Paves Way for €767m Tranche

By admin 19 Νοεμβρίου 2020 No comment

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Photo Source: @European Commission The European Commission (EC) commended Greek authorities for moving ahead with reform commitments despite the extraordinary circumstances posed by the coronavirus outbreak, paving the way for the release of a new tranche of debt relief agreed to as part of Greece’s post-bailout program. “In spite of the adverse circumstances

Greek Hoteliers Want Tax Exemption on Uncollected Thomas Cook Payments

By admin 18 Νοεμβρίου 2020 No comment

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Archive photo. Greek hoteliers are requesting they be exempt from paying taxes on invoice amounts still owed by UK travel group Thomas Cook, which declared bankruptcy in September 2019. In a letter to the Finance Ministry, the Hellenic Hoteliers Federation (POX) is calling on the government to take immediate action on the issue and to […]

Moody’s Upgrades City of Athens Rating, Outlook Stable

By admin 16 Νοεμβρίου 2020 No comment

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Photo source: Municipality of Athens International credit agency Moody’s announced that it had upgraded the City of Athens rating to Ba3 from B1, adding that it maintained a stable outlook. This rating comes after Moody’s upgraded the Greek government rating to Ba3 from B1 earlier this month. According to Moody’s, the rationale behind the decision […]