ENGLISH EDITION

The general government balance showed a deficit of 2.467 billion euros in the six-month period, down from a budget target for a deficit of 4.265 billion.

Galli said that DESFA has started a survey on supply safety for next winter and noted that things stand in a better position than last year as natural gas deposits in Europe are full. She noted that prices will depend on temperatures.

The top five players in the industry are: Terna Energy (930 MW or 18.9% market share), MORE (706MW or 14.3%), Iberdrola Rokas (409MW or 8.3%), ENEL Green Power (368MW or 7.5%) and EREN (250MW or 5.1%).

BoG governor said that it is safe to conclude that the Greek banking system, and the Greek economy, are no longer the black sheep of the Eurozone and that they face the future with optimism.

The process of transition requires approvals and supervision of the needed procedures by the relevant overseeing and supervisory authorities.

The current account deficit shrank by around 3 billion euros in the January-April period to 5.6 billion euros, but remained up from 4.9 billion in the corresponding period last year.

The power cables will be laid in sea regions up of to 3,000 m deep, making the interconnector the longest undersea electric link in the world, and will signal the end of Cyprus's electric isolation.

The government's aim is for the 2023 primary surplus to remain above 1 pct of GDP and to have a solid base, so that in 2024 things can unfold more gradually as there is a target for a surplus of 2 pct.

The inflation rate is seen easing to 4.3% in 2023 from 9.3% the previous year, and to decline further to 3.8% in 2024 and 2.3% in 2025, though food, non-energy industrial goods and services are expected to add to inflationary dynamics.

Deposits placed by the private sector increased by 794 million euros in May 2023 while deposits placed by the general government decreased by 3 million euros. The monthly net flow of total credit was positive by 405 million euros.