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Bank of Greece

Speaking English Using Only Greek Words: Zolotas’ Historic Speech

Many Greeks recall the speeches in English — peppered with Greek-origin words and phrases — given by economist and politician Xenophon Zolotas in the late 1950s. Zolotas was director of the Bank of Greece when he appeared in front of...

Greece Leads Europe in Housing Costs, Central Bank Says

Greece leads Europe in housing costs, November’s Financial Stability Report by the Bank of Greece (BoG) maintains. According to the report, 27 percent of the Greek population is spending more than 40 percent of their disposable income to cover housing...

Greece to Pay Citizens €3,000 for Reporting Tax Evasion

Greece's Ministry of Finance has announced an initiative to offer citizens a bonus of up to 3,000 euros for reporting instances of tax evasion. The incentive is part of a broader movement in strengthening tax compliance and transparency in...

Shadow Economy in Greece at 20.9 Percent of GDP, Central Banker Says

The size of the shadow economy in Greece reaches 20.9 percent of the country's Gross Domestic Product (GDP), Bank of Greece governor Yannis Stournaras said on Tuesday. Shadow economy consists of transactions between individuals, or individuals and businesses, without being...

Greek Tourism on Track for Record Setting Year

Greek tourism is on track for a record year, confirming the industry’s role as the driver of the country’s economy, the latest data from the Bank of Greece show. According to official data, the country welcomed a total of 5.76...

Bank of Greece Sees 2.2% Growth in 2023, 3% in 2024

The Bank of Greece (BoG) sees an acceleration of recovery in Greece after 2023 with growth projected at 2.2% in 2023, 3% in 2024, and 2.7% in 2025. According to its projections, included in its annual Monetary Policy Report 2022-2023...

Greek Economy to Grow 2.2% in 2023, Central Bank Forecasts

The Bank of Greece has raised its economic growth forecast for Greece this year, according to the central bank’s governor, Yannis Stournaras. Presenting the bank’s annual report on Friday, Stournaras said that the Greek economy is expected to grow by...

Tourist Season in Greece Kicks Off Earlier Than Ever

The tourist season opened in Greece on Saturday earlier than ever with the first charter flights carrying British tourists arriving at Rhodes. The first international flight from London's Heathrow landed at midday on Saturday, followed by one from Gatwick airport...

Tourism Receipts in Greece Rise to Pre-Pandemic Levels

The Bank of Greece reported on Wednesday that receipts from tourism in 2022 surpassed initial forecasts by 2.6 billion euros, reaching 17.6 million. Total travel revenues in 2022 did not exceed those of the last full year before the pandemic,...

Real Estate, Golden Visa Demand Skyrocket in Greece

The Golden Visa program of Greece is the most popular in Europe, as rich non-EU citizens are lining up to get theirs for a minimum investment of 250,000 euros ($244,300) that will be doubled. According to a recent survey provided...