Sep 4, 2018

Monthly Update: August 2018

Monthly Update

  • Slowdown in some economic partners, but overall growth of inflows remains strong
  • GDP increased by 4.6% in July, IMF revised 2018 GDP growth projection upward from 4.8% to 5.5%
  • Inflation remains close to the 3% target in August
  • Exports and imports increased by 31.0% and 21.8% respectively in July
  • Tourism revenues increased by 13.7% in July
  • Remittances were up by 19.3% in July
  • Loan growth remained strong at 18.2% in July
  • The real effective exchange rate appreciated by 0.4% MoM and by 0.3% YoY in July
  • NBG bought 17.5 mln USD on the FX market in August
  • Tax revenues increased by 9.1% YoY in July. The fiscal balance was in surplus in seven months of 2018
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