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Government tones down fiscal pledges as tighter framework starts to bite
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Budget outperforms in Mar, delivers 2.95 bln primary surplus thanks to strong tax collection
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Import price drop slows further to 2.8 pct in Feb
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Car sales contract in March, up 4 pct YoY in Q1
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Industrial Production growth slows to 1.6 pct YoY in Feb as electricity supply drops
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CPI accelerates again in March, rising by 3.2 pct YoY and 1.5 pct MoM
Bank of Greece study finds one in six local firms is strategic defaulter
In a separate section of the interim Monetary Policy Report published on Friday, the Bank of Greece (BoG) discussed the issue of corporate strategic defaulters i.e. companies that have stopped servicing their loans despite having the ability to make the payments.
The study examined a sample of 13,000 firms with outstanding loan obligations of at least 1 million euros each between 2010–2015. The loan stock of that sample stood at 57 billion euros, of which 19 billion were classified as non-performing.
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