Issue No 42 – June 2020



Executive Summary


1. Recent (macro-)economic developments

1.1. Positive developments in most of the demand components before the onset of the Covid-19 3
       Yannis Panagopoulos, Konstantinos Loizos, pages 8-15

1.2. Consumer Price Index fell during Covid-19 lockdown
       Emilia Marsellou, pages 16-18


1.3. Factor model forecasts for the short-term prospects in GDP

       Factor Model Economic Forecasting Unit Ersi Athanassiou, Theodore Tsekeris, Ekaterini Tsouma, pages 19-20


1.4. The Greek economy has temporarily (re-)entered a recession
       Nikolaos Rodousakis,George Soklis, pages 21-24


1.5. The key labour market variables had been improving until the introduction of restrictive measures in early March 2020
       Ioannis Cholezas, pages 25-32


1.6. Expected losses in the stock market due to the pandemic
       Fotini Economou, pages 33-36


1.7. Recent developments and prospects of the global economic activity
       Aristotelis Koutroulis, pages 37-41


2. Fiscal developments

2.1. State Budget, public debt and fiscal figures perspectives
       Elisavet Nitsi, pages 42-47


3. Human resources and social policies

3.1. In-work poverty and income inequality in the EU15
       Vlassis Missos, pages 48-51


4. Reforms-Economic development

4.1. Prospects for Greece’s energy transition to a low-carbon economy
       Vassilis Lychnaraspages 52-56

4.2. The regional specialisation and geographic concentration of economic activities in the light of the COVID-19 pandemic
       Ersi Athanassiou, pages 57-65


4.3. External trade of agro-food products
       Athanasios Chymis, pages 66-69




Special topics


Patterns and shifts in EU business numbers, size and performance in the manufacturing and energy sectors during 2007-2016
Prodromos Prodromidis, in collaboration with Konstantinos Bakri, Christoforos Malakates, Fotios Mermigkas, Athina-Nikoletta Nikolaou, Evangelia Papadopoulou, Panagiotis Pavlou, Emmanuel Skotoris, pages 70-84


Work from home in Greece
Nikolaos Kanellopoulos, pages 85-94


Tourism and the coronavirus: The effects on the Greek economy and the compensatory role of the public sector
Nikolaos Rodousakis, George Soklis, 95-100