Athens Macedonian News Agency: News in English, 17-03-06

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Revised ELSTAT figures for 2016 GDP 'not final,' government sources point out

[02] We continue to expect economic growth in Greece in 2017, EC Commission's Breidthardt says

[03] Greek 2016 GDP figures revised downwards

[04] Captagon seized in Attica was destined for Middle East and linked to ISIS, Greek authorities say

[05] Peristeri and Keramikos metro stations closed on Tuesday, Wednesday and Thursday

[01] Revised ELSTAT figures for 2016 GDP 'not final,' government sources point out

"We are waiting for the April figures," the same sources noted, in response to questions about the figures released by ELSTAT earlier in the day, which revised earlier forecasts for growth with more pessimistic figures showing a slight contraction.

The goal was still to arrive at a staff-level agreement for completing the review before the next Eurogroup on March 20, the government sources noted, while stressing that the agreement must be comprehensive, with a discussion on the medium-term debt relief measures following the SLA. The sources said that the meetings with the institutions' mission in Athens scheduled on Monday will review the progress made in the negotiations and discuss the next steps.

Regarding Monday's cabinet meeting, Economy Minister Dimitri Papadimitriou produced a lengthy document that will act as the basis for the government's strategic production reorganisation plan, the final version of which will be produced through a process of broad consultation with production organisations on a regional and central level, in accordance with the steps of a schedule outlined by the prime minister.

The sources said that the cabinet aims to meet every first Monday of each month.

Earlier, ELSTAT revised its estimates on the course of the country's GDP in the fourth quarter of 2016 to -1.1 pct compared with the same period in 2015, from an initial estimate of a 0.3 pct growth reported in February 14.

On a quarterly basis, Greek GDP fell 1.2 pct in the fourth quarter of 2016 from the third quarter, from a 0.4 pct decline initially estimated. As a result, in 2016 the country's GDP shrank 0.05 pct, from an initial estimate of a 0.3 pct growth rate.

[02] We continue to expect economic growth in Greece in 2017, EC Commission's Breidthardt says

Greek statistics agency revised downwards its estimates on the course of the country's GDP in the fourth quarter of 2016 to -1.1 pct compared with the same period in 2015, from an initial estimate of a 0.3 pct growth reported in February 14.

Breidthardt said that the Commission is taking into account that these figures are quarterly and therefore not final. "We continue to expect growth this year," she stressed adding that the implementation of the reforms is necessary in order to restore confidence.

Asked whether the institutions' representatives leave Greece without an agreement, she said that deliberations continue and the outcome of the visit depends on the progress made.

[03] Greek 2016 GDP figures revised downwards

In a quarterly basis, the Greek GDP fell 1.2 pct in the fourth quarter of 2016 from the third quarter, from a 0.4 pct decline initially estimated. As a result, in 2016 the country's GDP shrank 0.05 pct, from an initial estimate of a 0.3 pct growth rate.

Hellenic Statistical Authority attributed this change to the integration of data not available during the first estimate, such as balance of payments in December, turnover in the services sector and employment figures.

Following the revision of data, the Greek GDP fell 0.7 pct in the first quarter of 2016, it shrank 0.4 pct in the second quarter, it grew 2.0 pct in the third quarter and fell 1.1 pct in the fourth quarter of the year (on an annual basis).

Final consumption spending grew 0.6 pct in 2016 (household consumption was up 1.1 pct and general government consumption fell 2.0 pct). Private investments (gross fixed capital formation) fell 13.8 pct in the fourth quarter, from a decline of 10.2 pct in the first quarter, an increase of 17.8 pct in the second and a rise of 12.6 pct in the third quarter. Exports of goods and services grew 5.7 pct (-11 pct in the first quarter, -9.9 pct in the second, 11 pct in the third), while imports of goods and services grew 3.0 pct (-10 pct in the first quarter, -2.1 pct in the second and 13.8 pct in the third).

According to non-seasonally adjusted data, the Greek GDP fell 1.4 pct in the fourth quarter compared with the same period in 2015, from an initial estimate of a 0.2 pct growth rate.

[04] Captagon seized in Attica was destined for Middle East and linked to ISIS, Greek authorities say

The presentation was carried out by SDOE Special Secretary Stavros Thomadakis, Attica Security Police Directorate commander Christos Papazafyris and representatives of the Coast Guard, on behalf of all three Greek law enforcement agencies involved in the investigation. They announced four arrests in total - of two Albanian nationals, one Turkish national and one Greek - and said that another three individuals - a Turk, an Albanian and a retired Greek police officer - are wanted in connection with the case.

According to investigators the case is linked to ISIS since Captagon is the "drug of choice" used by the terrorist organisation. The amphetamine-like substance is given to jihadi fighters to make them ruthless, remorseless, more physically resilient and unafraid.

The 635,000 Captagon tablets seized during last week's raid on the drug lab in Nea Peramos represent the largest quantity of narcotic pills ever seized in the Greek market. Based on the substances found during the raid, it is estimated that the lab had the capacity to produce another batch of similar size.

The bust followed a three-month stake out and investigation carried out by the SDOE drugs' squad in collaboration with the coast guard and the Hellenic Police, following the individuals involved. Greek authorities were tipped off about the international ring's action by the U.S. Drug Enforcement Administration, leading to an unprecedented case by Greek standards.

Greek authorities are now also investigating whether any of the drugs were sold on the Greek market, while the street value is estimated at about 10 million euros, with each tablet costing 20 euros.

The illegal lab was found in a house in the Loutropyrgos area in Nea Peramos, where authorities also found a truck with an ingeniously devised secret compartment for concealing the pills, used to transport the drugs to the Attica region of Koropi. This was where the organisation had moored a speed boat with two powerful 500-horsepower outboard motors, capable of reaching speeds of up to 70 miles an hour. Investigators believe the drugs were transferred to the speedboat for transportation to Turkey and from there to countries in the Middle East.

In addition to the truck and speedboat, authorities seized five kilos of cannabis, chemical substances combined with amphetamine to manufacture the Captagon tablets, a rifle, a shot gun, two pistols, shells, 6000 euros in cash, five cars and sets of precision scales. They also found documents belonging to persons involved in the case that will be further investigated by Greek and international authorities.

Thomadakis said the bust was a major success indicating a culture of cooperation between the SDOE, coast guard and Greek police.

"If their example were to become widespread throughout public administration there would be a complete reversal of the current situation," he commented, while also sending a message to the troika technical teams that had cut SDOE's staff and resources.

"The major success of the country's prosecuting authorities has attracted international interest. I want to send a message fo the EU member-state governments: Greece is a unique pillar of stability in the region. It is necessary to further protect our country through an immediate completion of the review. And for this to happen, the member-state governments must become partners," he said.

[05] Peristeri and Keramikos metro stations closed on Tuesday, Wednesday and Thursday

During the works trains will pass through these stations without stopping.

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