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Economy

COVID-19 Not Going Aware, But Greek Economy Coming Back

ATHENS – Helped by government and European Union subsidies, Greece's economy, battered by lockdowns over the past 1 ½ years aimed at slowing the spread of the COVID-19 pandemic is showing signs of a slow comeback.

The June state budget figures showed a marked improvement in revenues and was a likely indicator that the economy will pick up again, although there's worry that the Delta variant could spike COVID cases again and bring more business restrictions.

Alternate Finance Minister Thodoros Skylakakis said the key to getting the ball rolling again is for people to be vaccinated although only some 45 percent are fully protected and 70 percent is needed to beat back the pandemic.

Skylakakis said that tax revenue totaled 3.332 billion euros ($3.94 billion) in June, some 3% above the budget target. Ministry sources said the goal set for tourism revenue this year, of 45 percent of the record 2019, was still achievable.

The EU is providing Greece with 32 billion euros ($37.82 billion) in loans and grants after the New Democracy government in 2020 alone put more than 17 billion euros ($20.09 billion) into relief for workers temporarily out of work during lockdowns and to their businesses shut down during that time.

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ATHENS — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.

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JANUARY 14-17 GLENBROOK, NV – The Greek Orthodox Metropolis of San Francisco 2022 Young Adult Winter Retreat ‘Citizens of the Desert: Embracing Our Role as Christian Witnesses to Our World’ takes place January 14-17, Martin Luther King weekend, at Lake Tahoe, the Galilee Camp and Conference Center, 1776 U.

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CHICAGO – The Greek Women’s University Club (GWUC) celebrated the organization’s 90th anniversary and the launch of the Hellenic Revolution’s 200th anniversary with a scholarship presentation to three female students on December 29th at Jameson’s Charhouse.

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The long-awaited historical epic film My Beloved Smyrna (Σμυρνη Μου Αγαπημενη)  has arrived in Greek cinema theaters after a glamorous premiere at the Megaron - Athens Concert Hall.

Video

TNH’s Happenings of the Week by Eraklis Diamataris

The National Herald’s Happenings of the Week (Jan 8 – Jan 15) as have been reported at the print and digital editions of TNH and presented by the TNH Editor Eraklis Diamataris.