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Greece Focus Notes

16 Σεπτεμβρίου 2011
• Greek GDP provisional estimate: Non-seasonally adjusted real GDP contracted by -7.3%YoY in Q2:2011, higher than the Q1:2011 figure of -8.1%YoY
• Preliminary budget execution data for year-to-August 2011 undershoot the 8-month MTFS target for 2011
• General Government arrears for year-to-July 2011 at 6.53 bn or 2.8 of GDP; overshooting risk for the 2011 budget deficit target of 7.6% of GDP
• Unemployment rate in June 2011 at 16.0%, lower than March’s reading of 16.6% due to seasonal factors
• CPI rate in August 2011 at 1.7%, lower than July’s reading of 2.4%
• Greece in the 90th position of the World Economic Forum Competitiveness ranking
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