Economy
Juncker heralds MoU exit but fails to add clarity during Athens visit
While the visit of European Commission president Jean-Claude Juncker to Athens on Thursday was seen as a symbolic gesture ahead of Friday’s Eurogroup and within the context of the final months of Greece’s third programme, it did little to provide clarity regarding the obstacles that have to be overcome in the coming weeks.
Extra taxation did not increase revenues in 2017
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Increases in tax rates across 2017 by the application of new tax scales and methods of calculation for tax payable by the self-employed did not lead to higher revenues for the government in 2017, according to the latest data from ELSTAT.
Budget primary surplus confirmed at 2.37 bln in March, above target by 1.27 bln
The budget primary balance was confirmed at a surplus of 2.37 billion euros in the first three months of 2018, up significantly against last year’s figure of 1.07 billion euros, the Finance Ministry (MoF) final budget execution bulletin for March showed on Tuesday.
Lenders still aiming for completion of fourth review in May
Greece’s creditors do not appear to have given up on the hope of completing the fourth review next month even though dozens of prior actions have not been completed.
Credit standards and demand for corporate, household loans unchanged in Q1
Credit standards for both corporate and household loans stayed unchanged from the previous quarter in the first quarter (Q1) of 2018, in line with earlier expectations, the Bank of Greece (BoG) bank lending survey (BLS) showed on Tuesday.
Greek 2017 primary surplus confirmed at 4 pct, well above target
Greece’s statistics agency, ELSTAT, announced on Monday the fiscal data for the period between 2014 and 2017 in the context of the first Excessive Deficit Procedure (EDP) notification of 2018.
Travel balance slumps to deficit of 6.9 mln in Feb as payments outpace receipts
Greece’s travel balance fell by 135.2 percent year-on-year in February compared to a rise of 3.4 percent in January, Bank of Greece (BoG) data revealed on Monday.
After Washington talks, debt relief and fiscal remain main obstacles on way to MoU exit
The clarity that the Greek government had hoped might emerge from the discussions at the sidelines of the International Monetary Fund Spring Meetings failed to materialise and significant issues relating to the post-programme period will have to be resolved in the coming weeks.
February current account deficit at 1.29 bln as underlying balances worsen
Greece’s current account (C/A) balance recorded a deficit of 1.29 billion in February, deepening from January’s deficit of 585.6 million, Bank of Greece (BoG) figures showed on Friday.
Eurosystem funding drops by 1.45 bln in March as ELA reduction offsets ECB rise
Greek banks’ Eurosystem funding fell by around 1.45 billion euros in March, the Bank of Greece's (BoG) monthly financial statement revealed on Friday.