No let up ahead in terms of fiscal demands for new Greek government


Fiscal policy remains at the heart of Greece’s third economic adjustment programme. A series of fiscal measures were approved in the summer but a long list of pending interventions is among the key milestones for the first programme review.

In mid-July, the government legislated a VAT reform aiming to generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super-reduced rate was set at 6 percent for pharmaceuticals, books and theatre and a reduced rate of ...

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