Economy

Results 2951 to 2960 out of 2964.

2014 draft budget: An ambitious fiscal consolidation targeting a primary surplus of 1.6 pct

The Ministry of Finance (MoF) tabled the 2014 draft budget to the Greek parliament on Monday with headline figures confirming recent press reports. As was broadly expected, 2014 will be another year of ambitious budget consolidation with a further cut in primary expenditure by 2.77 billion year on year (yoy) and a revenue increase of 2.55 billion yoy.

General government bottom line continues to improve with moderate decrease in arrears

The Greek general government (gg) cash deficit to August fell by 60.7 percent to 3.87 billion with the gg cash primary surplus rising by 12.7 percent to 1.78 billion, according to the Ministry of Finance (MoF). State arrears to the private sector retreated 2.0 percent month on month (mom) and 25.8 percent (2.29 billion) since the beginning of the year.

Greek Manufacturing PMI eased in September but remains close to a 44-month high

Greek Manufacturing PMI eased to 47.5 in September from a 44-month high of 48.7 in August, the first drop in the headline index over the last six months, according to Markit. Nevertheless, it is still at its second-highest level in the past three and a half years, while posted its highest quarterly average since the fourth quarter of 2009.

Sharper drop for retail sales in July points to lingering recession

Retail sales continued heading south for yet another month with the contraction rate accelerating to 14.2 percent in July from a revised 7.7 percent in June, according to Hellenic Statistical Authority (ELSTAT). A similar drop (14.0 percent) was also evident in retail volumes

Greece and troika agree 2013 primary surplus will be just 500 mln - here's why

Just as the Finance Ministry in Athens announced on Wednesday a final budget execution to August that blew away primary surplus targets by a margin of 5.36 billion, which is the equivalent of 2.9 percent of Greece's expected GDP, reports suggested that Yannis Stournaras agreed with the troika that the full year primary surplus would be in the region of 400 to 500 million, which is no more than 0.27 percent of GDP.

Marginal deposits outflow of 212 million euros in August

Greek private sector deposits marginally eased 0.11 percent month on month (mom) in August with balances reaching 162.21 billion euros. Net flow remained slightly negative for the third consecutive month with outflows at 212 million in August from 161 million in July.

Greek C/A deficit to July narrowed to just 156 mln with boost from tourism

The July current account (C/A) balance showed a surplus of 2.73 billion euros from 510 million euros last year, according to the Bank of Greece (BoG). The significant increase mainly reflects a jump in the current transfers’ surplus to 1.86 billion, from just 100 million last year, owing to an inflow of 1.5 billion related to SMP income.

Results 2951 to 2960 out of 2964.