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BoG
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Economy
BoG sets out positives and next steps for economy, forecasts 2.4 pct growth in 2020 The Bank of Greece (BoG) submitted to Parliament on Friday its interim monetary policy report for 2019 in which it outlines a range of areas that Greek authorities should take encouragement from, while stressing others that require focus and pose challenges in the near and longer terms future.
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EconomyMacroeconomy
Current account lands on deficit of 673.4 mln in October, aggregate at deficit of 697.4 mln Greece’s current account (C/A) balance posted a deficit of 673.4 million euros in October, from a surplus of 886.6 million in September, according to Bank of Greece (BoG) data released on Friday.
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EconomyMacroeconomy
Primary cash balance surplus at 6.31 bln in November Greece’s central government primary cash balance recorded a surplus of 6.31 billion euros in the first 11 months of the year according to figures released by the Bank of Greece (BoG).
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EconomyBanking
Q3 sees loans managed by servicers rise by 10.8 pct QoQ to reach 20.11 bln The Bank of Greece (BoG) released a new quarterly bulletin last week detailing statistics regarding the operations of Credit Servicing Firms (CSFs).
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EconomyMacroeconomy
Apartment prices rise by 9.1 pct in Q3, hitting series high The rise in the nominal value of apartments in Greece came to 9.1 percent year-on-year (YoY) in the third quarter (Q3) of 2019 from an increase of 7.7 percent in Q2, Bank of Greece (BoG) data showed on Thursday.
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EconomyFeatures
BoG data shows drop in card usage in first half of 2019 The Bank of Greece (BoG) Financial Stability Report for December has shed light on a number of fiscal trends in Greece, including the rise in card transactions in 2019.
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EconomyBanking BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.
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EconomyMacroeconomy
General govt primary cash surplus at 7.50 bln in October, arrears fall by 54 mln Greece’s general government (gg) primary cash surplus came to 7.50 billion euros in the first ten months of the year, up by 773 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
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EconomyBanking
BoG urges banks to improve quality of capital, re-doubles SPV efforts In its latest financial stability report published on Thursday, the Bank of Greece (BoG) took stock of the various positive developments and encouraging signs for the economy and banking sector, while highlighting the challenges for systemic local banks, emanating from the quality of the loan portfolio and the composition of the capital structure that largely constitutes of deferred tax credits (DTC).
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EconomyMacroeconomy Overall loan interest drops to 4.32 pct in October The overall weighted average interest rate on all new loans to households and non-financial corporations came to 4.32 percent in October, down by 27 basis points (bps) from the rate of 4.59 noted in September, data from the Bank of Greece (BoG) showed on Wednesday.