Issue No 45 – June 2021



Executive Summary


1. Recent (macro-)economic developments

1.1. The evolution of the main components of demand during the Covid-19 pandemic
       Yannis Panagopoulos, Konstantinos Loizos, pages 7-14

1.2. Higher Energy prices drive inflation in Greece and in Eurozone
       Emilia Marsellou, pages 15-18


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

       Factor Model Economic Forecasting Unit Ersi Athanassiou, Theodore Tsekeris, Ekaterini Tsouma, pages 19-21


1.4. Can tourism save 2021 GDP growth?,
       Nikolaos Rodousakis, George Soklis, pages 22-25


1.5. Positive messages and challenges for the Greek stock market
       Fotini Economou, pages 26-30


1.6. International environment: Recent developments and prospects of global economic activity
       Aristotelis Koutroulis, pages 31-36


2. Fiscal developments

2.1. State Budget, public debt and fiscal figures perspectives
       Elisavet Nitsi, pages 37-42


3. Human resources and social policies

3.1. Recent developments in key labour market variables
       Ioannis Cholezas, pages 43-53

3.2. Recent developments in income inequality in the EU15
       Vlassis Missos, pages 54-57


4. Reforms-Economic development

4.1. Developments in Greece’s exports of goods during the COVID-19 pandemic
       Ersi Athanassiou, Agapi Kotsipages 58-69

4.2. External trade of agro-food products
       Athanasios Chymis, pages 70-73


4.3. Economic output and human losses in Greece during the pandemic
       Pródromos Prodromídis, pages 74-79


Special topics


Testing the (new) equity multiplier in the Greek banking system: 2002Q4–2019Q1
Konstantinos Loizos, Yannis Panagopoulos, pages 80-85


Developments in the labor markets and sectors of the business economy during 2008-2017 in Greece
Pródromos Prodromídis 86, pages 86-110