x

Economy

Supermarket Executives See Pandemic Impact Continuing Until Summer of 2022

ATHENS — The vast majority of top executives in the supermarket and FMCG sectors expect that the impact of the pandemic crisis will last at least until the end of 2021, while it will continue to affect the economy in the summer of 2022, IELKA (the Research Institute for Retail Consumer Goods) said in a survey released on Monday.

The survey, conducted in the period February 12-23 on a sample of 180 top executives, showed that 85 pct believed that the emergency conditions with Covid-19 will last at least until the end of 2021, 97 pct believed that the market and the economy will continue to be affected until the end of 2021 and 70 pct at least until the summer of 2022. Eighty-five pct said that citizens felt fatigue from extended restrictive measures, along with 51 pct of workers in the sector. Two out of three executives said that changes in restrictive measures were too frequent, while only 22 pct believed that the cost of the measures was higher than the health benefit. The duration and intensity of the pandemic is also affecting the financial condition of enterprises, with 65 pct reporting an increase of operating costs by 1-5 pct, 23 pct reporting an increase of more than 5.0 pct and 12 pct reporting no increase in operating costs. Supermarket executives said that the additional cost was new hirings.

 

RELATED

ATHENS — Greece has promised to return to a budget surplus in 2023, submitting its first spending blueprint in 12 years that is not under the direct scrutiny of European bailout lenders.

Top Stories

Columnists

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

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

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

Sounds of Cyprus Performed Live in Times Square (Video)

NEW YORK – Talented artists Elena Chris, Peter Douskalis, and Alex Tasopoulos performed a concert of Cypriot music for New Yorkers and tourists in the center of the Big Apple, Times Square.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

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