x

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.

RELATED

With an average of 2800 hours of sun a year, Greece still hasn’t fully harnessed solar power to generate electricity and on one day in May disconnected 1 Gigawatt (GW) of solar plants from the grid.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

ATLANTA  — President Joe Biden on Sunday offered his most direct recognition of U.

ATHENS - With many Greeks unable to find apartments or homes they can afford as rents have soared and mortgages difficult to obtain, the New Democracy government is going ahead with a scheme to have more built on public land with private funds.

DUBAI, United Arab Emirates — A helicopter carrying Iranian President Ebrahim Raisi, the country's foreign minister and other officials apparently crashed in the mountainous northwest reaches of Iran on Sunday, sparking a massive rescue operation in a fog-shrouded forest as the public was urged to pray.

ASTORIA – The Federation of Dodecanese Societies of America and Canada and the Dodecanesian Youth Society held a ‘Greek Night’ fundraising event on May 18 at the Stathakion Cultural Center in Astoria and raised over $20,000 to help a young man recovering from a serious car accident that left him with severe injuries.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.