Editorial

1. Recent economic developments

1.1. Cyclical phases of economic activity and Economic Uncertainty Indicators,
Ekaterini Tsouma, p. 4-12

1.2. The main demand components for the year 2025,
Yannis Panagopoulos, Konstantinos Loizos, p. 13-18

1.3. Developments in inflation in Greece and the Euro area,
Aimilia Marsellou, p. 19-23

1.4. Factor model forecasts for the short-term prospects in GDP,
Macroeconomics Forecasting Unit, Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, p. 24-25

1.5. Recent developments and prospects of the global economic activity: Destabilization of the global economy amid a major disruption in international energy markets,
Aristotelis Koutroulis, p. 26-30

2. Fiscal developments

2.1.The European Multiannual Financial Framework 2028-2034 and Greece,
Panagiotis E. Petrakis, Giorgos Vasilis, p. 31-39

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
Ioannis Cholezas, p. 40-47

3.2. Subjective and objective poverty in Greece: Trends and the profile of economic vulnerability,
Athina Raftopoulou, p. 48-53

3.3. Mapping children’s happiness in Greece: Exploring the factors associated with children’s happiness,
Eirini Leriou, p. 54-58

4. Reforms-Economic development

4.1. External trade of agri-food products,
Athanasios Chymis, p. 59-62

Special topics

Life satisfaction and emotions: Trends for the period 2019-2025,
Panagiotis Petrakis, Fotini Economou, Eleftheria Syriopoulou, Konstantina Papaioannou, p. 63-77

Το άρθρο Issue No 60 – June 2026 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Editorial

1. Recent (macro-)economic developments

1.1. Governance and development strategy in the Greek Economy: Global trends, subjective expectations, and the productive model,
Panagiotis E. Petrakis, Pantelis C. Kostis, p. 5-17

1.2. The main demand components in the first nine months of 2025,
Yannis Panagopoulos, Konstantinos Loizos, p. 18-27

1.3. Inflation developments in Greece and the Eurozone: The largest increases in Hotels-cafes-restaurants, Food, and Housing,
Emilia G. Marsellou, p. 28-32

1.4. Factor model forecasts for the short-term prospects in GDP,
Macroeconomics Forecasting Unit, Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, p. 33-34

1.5. 2025: A landmark year for the Greek stock exchange,
Fotini Economou, p. 35-40

1.6. Recent developments and prospects of the global economic activity: Stabilization of global GDP growth at 2025 levels amid heightened uncertainty,
Aristotelis Koutroulis, p. 41-46

2. Fiscal developments

2.1. State Budget, public debt and fiscal outlook,
Υiorgos Ioannidis, Elisavet I. Nitsi, p. 47-53

2.2. Fiscal policy, debt, and the economic cycle in Greece,
Georgios Bertsatos, Christos Chrysanthakopoulos, p. 54-57

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
Ioannis Cholezas, p. 58-66

3.2. Evolution of basic indicators of poverty, social exclusion, and deprivation in Greece (2010–2023),
Vlassis Missos, p. 67-68

4. Reforms-Economic development

4.1. Governance effectiveness of the Greek economy,
Athanasios Chymis, p. 69-71

4.2. Employment in the agricultural sector in Greece: Structural changes and policy challenges,
Ioanna Reziti, p. 72-79

Special topics

Returns to education in Greece: Causal evidence from the 1977 Labor Market Survey,
Harry Anthony Patrinos p. 80-86

Recent developments in private returns to education in Greece,
Nikolaos C. Kanellopoulos, Ioannis Cholezas, p. 87-100

Vacant student places and the minimum admission requirement: What do the data show about prospective students’ preferences,
Daphne Nicolitsas, p. 101-109

Το άρθρο Issue No 59 – February 2026 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

1.1. The main demand components in the first six months of 2025,
Yannis Panagopoulos, Konstantinos Loizos, p. 6-15

1.2. Developments in inflation in Greece and the Eurozone,
Emilia G. Marsellou, p. 16-20

1.3. Factor model forecasts for the short-term prospects in GDP,
Macroeconomics Forecasting Unit Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou,Theodore Tsekeris, p. 21-22

1.4. The Greek stock market is entering a new era,
Fotini Economou, p. 23-27

1.5. Recent developments and prospects of global economic activity: Moderate economic growth amidst great uncertainty and rising trade protectionism,
Aristotelis Koutroulis, p. 28-30

2. Fiscal developments

2.1. State Budget, public debt and prospects of fiscal aggregates,
Yiorgos Ioannidis, Elisavet I. Nitsi, p. 31-37

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
Ioannis Cholezas, p. 38-45

3.2. Significant wage inequality between European regions,
Vlassis Missos, p. 46-49

3.3. Health, subjective well-being, and healthcare access in the wake of COVID-19: Evidence from Greece,
Athina Raftopoulou, p. 50-54

4. Reforms-Economic development

4.1. Military expenditure in the EU27,
Georgios Bertsatos, Christos Chrysanthakopoulos, p. 55-59

4.2. Digital reforms and tax evasion in Greece,
Artemis Stratopoulou, p. 60-67

Special topics

Revisiting Greece’s participation in Global Value Chains:
New evidence at the sector level,
Petros Dimas, Alexandra Kontolaimou, Aimilia Protogerou p. 68-85

The impact of risk-based tax audits on the efficiency of Tax Administration,
Charalampos Kalligosfyris, Eleni Kalamara, Zacharias Dermatis, Athanasios Anastasiou, p. 86-99

Το άρθρο Issue No 58 – October 2025 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

1.1. The evolution of aggregate demand components in 2024,
Yannis Panagopoulos, Konstantinos Loizos, p. 5-13

1.2. Developments in inflation in Greece and the Eurozone
Persistently high core inflation in Greece: Services and Housing-related drivers,
Emilia Marsellou, p. 14-18

1.3. Factor model forecasts for the short-term prospects in GDP,
Macroeconomics Forecasting Unit, Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, p. 19-21

1.4. Positive developments for the Greek capital market amid upgrades for Greece,
Fotini Economou, p. 22-26

1.5. Recent developments and prospects of the global economic activity:
Slowing economic growth amid protectionist policies and escalating geopolitical tensions,
Aristotelis Koutroulis, p. 27-31

2. Fiscal developments

2.1. State Budget, public debt, fiscal outlook,
Elisavet Nitsi, Yiorgos Ioannidis, p. 32-39

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
Ioannis Cholezas, p. 40-47

3.2. Labor productivity and compensation in Greece: Investigating the emerging gap,
Vlassis Missos, p. 48-51

3.3. The Impact of the COVID-19 pandemic on self-perceived health in Greece,
Athina Raftopoulou, p. 52-60
 

4. Reforms-Economic development

4.1. Regional analysis of the energy poverty of Greek households: Recent developments,
Vassilis Lychnaras, Elisavet Nitsi p. 61-67

4.2. The impact of external crises on Greece’s agricultural economy: A production and income analysis for the period 2019–2023,
Ioanna Reziti, p. 68-76

4.3. External trade of agri-food products,
Athanasios Chymis, p. 77-81

4.4. GDP income approach: The case of Greece,
Georgios Bertsatos, Christos Chrysanthakopoulos p. 82-91

4.5. Trends in the Greek real estate market,
Artemis Stratopoulou p. 92-101

Special topics

Evaluating values versus views: A proposal to increase credit rating agency transparency,
Sofoklis Vogiazas, Panayotis Gavras p. 102-111

Income, age, consumption practices and inflation,
Yiorgos Ioannidis p. 112-131

Το άρθρο Issue No 57 – June 2025 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

1.1. The main demand components in the first nine months of 2024,
Yannis Panagopoulos, Konstantinos Loizos, p. 6-15

1.2. Developments in inflation in Greece and the Eurozone,
Emilia Marsellou, p. 16-20

1.3. Factor model forecasts for the short-term prospects in GDP,
Macroeconomics Forecasting Unit, Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, p. 21-23

1.4. 2024 was a year of positive returns for the Greek stock market,
Fotini Economou, p. 24-29

1.5. Recent developments and prospects of global economic activity: Global economic growth is set to stabilize at 2024 levels,
Aristotelis Koutroulis, p. 30-35

2. Fiscal developments

2.1. State Budget, public debt, fiscal outlook,
Elisavet Nitsi, Yiorgos Ioannidis, p. 36-43

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
Ioannis Cholezas, p. 44-50

3.2. Gender pay gap of non-manual workers across the EU countries (2022),
Vlassis Missos, p. 51-54

4. Reforms-Economic development

4.1. Digital competitiveness of the Greek economy,
Athanasios Chymis, p. 55-60

4.2. Net Foreign Direct Investment in Greece,
Georgios Bertsatos, Christos Chrysanthakopoulos, p. 61-65

Special topics

Investigation of the persistence of Harmonised Inflation and its components in Greece and the euro area,
Alexandros Karakitsios, Evangelia Kasimati, Euripides Kondelis, Zacharias Bragoudakis, p. 66-81

Public health, multidimensional child poverty, Social Security and Demographic issues,
Eirini Leriou, p. 82-100

Το άρθρο Issue No 56 – February 2025 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

1.1. The main aggregate demand components in the first half of 2024,
       Yannis Panagopoulos, Konstantinos Loizos, p. 6-14

1.2. Services drive inflation up again,
       Emilia Marsellou, p. 15-19

1.3. Factor model forecasts for the short-term prospects in GDP,,
      Factor Model Economic Forecasting Unit, Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris,p. 20-22

1.4. Positive sign for the eight-month 2024 returns in the Greek stock market,
       Fotini Economou, p. 23-27

1.5. Recent developments and prospects of global economic activity: The global economy on a stable growth trajectory,
       Aristotelis Koutroulis, p. 28-30

2. Fiscal developments

2.1. State Budget, public debt and fiscal figures perspectives,
       Elisavet I. Nitsi, p. 31-37

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
       Ioannis Cholezas, p. 38-45

3.2. Average annual change by firm size in the EU27, 2009-2023,
       Vlassis Missos, p. 46-48

Special topics

De-globalization and trade fragmentation: The position of Greece in the new landscape,
      Artemis Stratopoulou, p. 49-69

Το άρθρο Issue No 55 – October 2024 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

 1.1. The evolution of aggregate demand components in a period of economic regularity,
       Yannis Panagopoulos, Konstantinos Loizos, pages 7-14

 1.2. Inflation in May slowed to 2.4%: Food inflation declined to 3.1%, although it remains the most significant contributor to the overall index,
       Emilia Marsellou, pages 15-21

 1.3. Factor model forecasts for the short-term prospects in GDP,
       Factor Model Economic Forecasting Unit Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, pages 22-24

 1.4. The first four months of 2024 ended with positive returns for the stock market,
       Fotini Economou, pages 25-29

 1.5. Recent developments and prospects of the global economic activity: The outlook for the global economy is gradually improving,
       Aristotelis Koutroulis, pages 30-34

2. Fiscal developments

 2.1. State Budget, public debt and fiscal figures perspectives,
       Elisavet Nitsi, pages 35-42

3. Human resources and social policies

 3.1. Recent developments in key labour market variables,
       Ioannis Cholezas, pages 43-49

 3.2. Comparing the average hourly wage between Greece and the EU27,
       Vlassis Missos, pages 50-53

 3.3. Multidimensional child poverty in Greece: Empirical findings from the longitudinal implementation of a new multiple indicator during the period 2010–2023,
       Eirini Leriou, pages 54-61

4. Reforms-Economic development

 4.1. External trade of agri-food products,
       Athanasios Chymis, pages 62-66

 4.2. Global trade and the Greek Current Account,
       Ioanna Konstantakopoulou, pages 67-72

Το άρθρο Issue No 54 – June 2024 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

 1.1. Evolution of the main components of demand in the first nine months of 2023,
       Yannis Panagopoulos, Konstantinos Loizos, pages 5-13

 1.2. Food, Hotels-Cafés-Restaurants and Health shape January 2024 inflation despite falling electricity and natural gas prices,
       Emilia Marsellou, pages 14-18

 1.3. Factor model forecasts for the short-term prospects in GDP,
       Factor Model Economic Forecasting Unit Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, pages 19-21

 1.4. Return to investment grade and high returns for the Greek stock market in 2023,
       Fotini Economou, pages 22-27

 1.5. Recent developments and prospects of the global economic activity: slowdown of global economic growth amid heightened geopolitical uncertainty,
       Aristotelis Koutroulis, pages 28-32

2. Fiscal developments

 2.1. State Budget, public debt and fiscal figures perspectives,
       Elisavet Nitsi, pages 33-41

3. Human resources and social policies

 3.1. Recent developments in key labour market variables,
       Ioannis Cholezas, pages 42-46

 3.2. Social protection expenditure in 2008 and 2021,
       Vlassis Missos, pages 47-49

4. Reforms-Economic development

 4.1. Recent developments in the digital transition of the Greek economy,
       Athanasios Chymis, pages 50-53

Special topics

From Basel I to Basel III in the banking system: A brief theoretical presentation,
Yannis Panagopoulos, pages 54-75

Το άρθρο Issue No 53 – February 2024 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

 1.1. The evolution of the main components of demand in the electoral semester of 2023,
       Yannis Panagopoulos, Konstantinos Loizos, pages 6-13

 1.2. Recent inflation developments in Greece and the Eurozone,
       Emilia Marsellou, pages 14-23

 1.3. Factor model forecasts for the short-term prospects in GDP,
       Factor Model Economic Forecasting Unit Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, pages 24-25

 1.4. Positive returns for the Greek stock market and the return to investment grade,
       Fotini Economou, pages 26-30

 1.5. Recent developments and prospects of global economic activity: Slowdown of global economic growth amid tight monetary policy,
       Aristotelis Koutroulis, pages 31-32

2. Fiscal developments

 2.1. State Budget, public debt and fiscal figures perspectives,
       Elisavet Nitsi, pages 33-39

3. Human resources and social policies

 3.1. Recent developments in key labour market variables,
       Ioannis Cholezas, pages 40-46

 3.2. Income inequality and productivity,
       Vlassis Missos, pages 47-53

Special topics

School bullying and poverty in Greece: Findings from the implementation of a new model during the school year 2022–2023,
Constantinos Yannopoulos, Eirini Leriou, pages 54-68

Το άρθρο Issue No 52 – October 2023 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.

Executive Summary

1. Recent (macro-)economic developments

1.1. The evolution of aggregate demand components as we return to normality,
       Yannis Panagopoulos, Konstantinos Loizos, pages 7-14

1.2. Recent developments of the inflation in Greece and the euro area: De-escalation of energy inflation – Food inflation remains high,
       Emilia Marsellou, pages 15-18

1.3. Factor model forecasts for the short-term prospects in GDP,
       Factor Model Economic Forecasting Unit Ersi Athanassiou, Aristotelis Koutroulis, Emilia Marsellou, Theodore Tsekeris, pages 19-21

1.4. A positive start to 2023 for the Greek stock market,
       Fotini Economou, pages 22-25

1.5. Recent developments and prospects of global economic activity: Slowdown of global economic growth amid deteriorating financial conditions,
       Aristotelis Koutroulis, pages 26-30

2. Fiscal developments

2.1. State Budget, public debt and fiscal figures perspectives,
       Elisavet Nitsi, pages 31-36

3. Human resources and social policies

3.1. Recent developments in key labour market variables,
       Ioannis Cholezas, pages 37-43
3.2. Poverty and social exclusion,
       Vlassis Missos, pages 44-46

4. Reforms-Economic development

4.1. Developments and use of digital public services in Greece,
       Ersi Athanassiou, Agapi Kotsi, pages 47-54

4.2. External trade of agri-food products,
       Athanasios Chymis, pages 55-59

Special topics

Greece’s recent economic performance and post-pandemic prospects
Prόdromos Prodromίdis, pages 60-73

 The Greek energy sector and the impact of natural gas prices on domestic electricity prices
Vassilis Lychnaras, Costas Passas, pages 74-86

International developments on inflation and banks – Market concentration and interest rate policy of the Greek banking system
Georgios Bertsatos, pages 87-99

Το άρθρο Issue No 51 – June 2023 εμφανίστηκε πρώτα στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών.