Travel balance up by 17.2 pct in September on higher receipts, lower payments
Industrial turnover falls by 0.8 pct in Sept, down for first time since Oct 2016
Current account surplus at 1.21 bln in September on services balance growth
Grivalia Properties net profits rise by 87 percent in nine-month results
Primary cash surplus at 2.88 bln in Oct on higher expenditure, arrears payments
Fall in apartment prices continues with slower decline of 0.6 pct in Q3
Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
The significant increase in the use of debit and credit cards after the imposition of capital controls in July 2015 is having a positive impact on VAT revenues by improving collectability, the Bank of Greece (BoG) concludes in its interim monetary policy report published last Friday.
In contrast, the recent rise in the VAT rate is having a negative effect on VAT revenues and the BoG suggests the launch of more initiatives to widen further the use of cards as well as the lowering of VAT rates to previous levels.
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