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Economy

Pandemic Cost Greek Businesses 4.8 Billion Euros This Year: So Far

ATHENS – The lingering COVID-19 pandemic, now more a year long, continued to devastate Greek businesses in the first quarter of 2021, bringing losses of some 4.8 billion euros ($5.75 billion) and no recovery in sight.

That was assessed by the Hellenic Statistical Authority ELSTAT which said the real effect is even more severe because the data came from larger companies which report monthly and not smaller businesses that do so quarterly.

Data showed turnover came to 17.23 billion euros ($20.65 billion) in February compared to 19.05 billion euros ($22.83 billion)  a year earlier, an annual decline of 9.6 percent but 47.7 percent for closed companies,, said Kathimerini.

Companies had some income from time to time when the government allowed a click-and-collect method that let shoppers make purchases online and them pick up the goods outside stores.

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