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Search resuls for: "European Recovery Fund"


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The country has received three international bailouts from the euro zone and the IMF worth 280 billion euros ($308 billion) since 2010. "The Greek (bond) market is not so liquid and tends to be more volatile, but we have a lot of good news. The Greek economy is still heavily exposed to volatile sectors like tourism or shipping, but it is less sensitive to manufacturing headwinds. The premium, or spread, of Greek government bond yields over those of Spain recently fell to its lowest since 2008 at around 27 basis points . Across southern Europe, only Portugal and Spain trade at a smaller premium to Germany - the euro zone benchmark - than Greece.
Persons: Athanasios, Kyriakos Mitsotakis, Goldman Sachs, Filippo Taddei, Piet Haines Christiansen, Giorgia Meloni, Mario Draghi's, Christoph Rieger, Stefano Rebaudo, Sara Rossi, Amanda Cooper, Hugh Lawson Organizations: Bank of America, Democracy, Analysts, European Recovery Fund, Danske Bank, Italy's, ECB, Italian Treasury, Reuters, Thomson Locations: Greece, Spain, Europe, Portugal, Germany, European, Italy, Italian
MADRID, Jan 27 (Reuters) - Spain's gross domestic product grew a faster-than-expected 5.5% in 2022 as the country avoided a recession in the final quarter despite fears of a global slowdown, official data showed on Friday. Spain's GDP grew 0.2% in the fourth quarter from the previous quarter and 2.7% from the same quarter in 2021, the National Statistics Institute said on Friday. The final GDP data beat both the original official forecast for the year, which was 4.5%, and the 5% anticipated by Prime Minister in late 2022. Exports, one of the driving forces of the Spanish economy in 2022, came to a screeching halt in the fourth quarter as the global economy slowed. The Spanish economy shrunk 11.3% in 2020 when the pandemic shut down tourism, and the economy has not yet fully recovered to pre-Covid levels.
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