Black market for tobacco products reaches 25% in Greece due to overtaxation
Greece’s black market for tobacco products hits 25% as overtaxation drives illegal trade, with criminal networks benefiting from failed revenue policies.
Economy
After the heatwave, the bill shock: Greeks brace for soaring electricity costs
Greek consumers face soaring electricity bills after record heatwave forces continuous air conditioning use, with wholesale prices jumping 20% in July.
IMF upgrades global growth forecast as Trump tariff threats ease
IMF raises global growth forecast to 3% for 2025 as Trump’s tariff threats ease, boosting economic confidence despite ongoing trade risks.
OPEKA July benefits: €281 million in social payments to 1.1 million Greeks
Greece distributes €281 million in July social benefits to over 1.1 million citizens, including child benefits, housing allowances, and disability payments.
August 2025 pensions: Payments start Wednesday July 30 – Changes to personal difference
August 2025 pension payments begin July 30 for Greek retirees. Major changes proposed to personal difference amounts affecting thousands of pensioners.
Trump tariffs: New wave of price increases expected to hit Greece
Trump’s 15% tariffs on EU exports threaten Greek businesses and consumers with price increases across agriculture, steel, and aluminum sectors.
Child benefit A21: Third payment countdown begins, platform reopens
Child benefit A21 third payment arrives July 31st for hundreds of thousands. OPEKA platform reopens same day for new applications until September 1st.
New Digital Property Registry launches July 31: What changes for owners and tenants
Greece launches new Digital Property Registry on July 31, requiring owners and tenants to verify property data and declare usage to combat widespread tax evasion.
Greece tourism soars: International arrivals up 5.7% in H1 2025
Greece’s tourism sector shows remarkable growth with international arrivals jumping 5.7% in the first half of 2025, reaching 10.3 million visitors.
Greece joins SAFE mechanism: Pierrakakis says it strengthens the country
Greece strengthens defense capabilities with SAFE mechanism participation, boosting defense spending to 30 billion euros while addressing EU-US trade relations.
Summer in Greece: temperatures rise, expenses increase, savings fall
New study reveals Greeks spend more during summer without proper planning, with half canceling vacations due to financial pressures and only 26% staying within budget.
Deutsche Bank study: Greece’s consumer problem isn’t high prices, but low incomes
Deutsche Bank study reveals Greece’s real economic challenge: while prices remain competitive globally, low wages plague Greek consumers more than inflation.