Survey: Majority of Greek Enterprises Hit by Impact of COVID-19

ATHENS — Companies representing 69 pct of the total turnover of Greek enterprises were directly hit by the Covid-19 pandemic as a result of lockdown restrictions and a shut down of operations, a survey conducted by Grant Thornton said on Monday.

The survey focused on the expected impact on economic conditions due to the crisis, particularly on the country's Gross Domestic Product (GDP) and companies' liquidity. Grant Thornton said that companies with an accumulated turnover of 32.9 billion euros (11 pct of total turnover), employing around 1.1 million workers (25 pct of total workforce) temporarily shut down operations due to the pandemic. The country's GDP is expected to contract by 8.5 pct in 2020, reflecting the impact of the pandemic on high added-value sectors, such as tourism, transport and hospitality. The tourism sector is expected to shrink by 52 pct this year, the survey said. The survey also analysed a sample of 17,000 enterprises with an accumulated turnover of more than 50 pct of total turnover in the country, which showed that these companies expected a 12.4 pct decline in their turnover this year and a 39 pct drop in EBITDA. Liquidity is projected to fall by 5.6 billion euros in 2020.



The continuation of the pandemic continues to raise hurdles in forecasting the short-term trend of the country's Gross Domestic Product, but based on available data the Greek GDP is expected to rise by 5,2% in the first half of 2022 (7% in the first quarter and 3.

Top Stories


If you are reading this today, you can thank your parents, grandparents, great-grandparents, and previous ancestors for your existence.


A former senator, minister, cabinet secretary, chief of staff to Australian former PM John Howard for more than a decade, Arthur Synodinos is Australia’s ambassador to the United States since 2020.

General News

Anton "Tony" Mandros, 87, of Portsmouth, RI, passed to his eternal reward on January 19.


In Mourning Yet Again, NYC Prepares to Honor Fallen Officer

NEW YORK — A city reeling from a recent spate of violence prepared to lay to rest a rookie police officer being hailed as an inspiration to his immigrant community, as investigators sought to make sense of a domestic dispute that left another officer "fighting for his life.

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.