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Athens buoyed by conclusion of budget talks but IMF lowers growth forecasts
EconomyMacroeconomyThe government submitted to the European Commission on Tuesday the draft 2020 budget after negotiations over the fiscal gap reportedly concluded successfully but, at the same time, the International Monetary Fund issued an indirect warning that Greece’s growth prospects for the coming years will be weaker than expected.
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Budget primary surplus at 4.48 bln in September
EconomyMacroeconomyThe budget primary balance recorded a surplus of 4.48 billion euros in the first nine months of 2019, compared to a surplus of 2.53 billion noted in September 2018, the preliminary Finance Ministry (MoF) budget execution bulletin showed on Tuesday.
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Athens prepares to send draft budget to Brussels, lines up next tax measures
PoliticsGreek PoliticsThe government is hoping to wrap up on Monday the budget negotiations it has been having over the last few weeks with the European institutions so next year’s draft economic plan can be submitted to the European Commission on Tuesday.
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PBO highlights areas of uncertainty for 2020 budget
EconomyMacroeconomyThe Parliamentary Budget Office (PBO) has followed the footsteps of the Fiscal Council by issuing its opinion on the draft budget that the government tabled last week.
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ND sees budget as evidence of pledges being kept, SYRIZA highlights flaws
PoliticsGreek PoliticsHaving submitted to Parliament on Monday the draft 2020 budget, including the tax cuts pledged by Prime Minister Kyriakos Mitsotakis in September, the government is turning its focus to other domestic political issues.
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Draft budget sets ambitious growth target of 2.8 pct in 2020, plugs fiscal gaps
EconomyGreece’s finance ministry tabled to Parliament the draft budget for next year in which Greek authorities see substantially accelerated growth while honouring the target agreed with official creditors of 3.5 percent of GDP primary surplus.
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Court verdict on 2016 pension reform seen having fiscal impact
EconomyRulings from the Council of State just published deem parts of the 2016 pension reform, known as the Katrougalos law, unconstitutional and mean the new government will have to redesign parts of the social security system and incur a reported annual fiscal of around 300 million euros.
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Athens strives to bridge fiscal gap before unveiling 2020 draft budget
EconomyProgrammeEuropean Economic Affairs Commissioner Pierre Moscovici has given assurances ahead of his visit to Athens on Friday that the Greek government and the institutions will be able to bridge the fiscal gap for 2020 before the draft budget is submitted to Brussels on October 15.
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IMF warns of uphill battle for economy as Athens seeks to close 2020 fiscal gap
EconomyProgrammeThe International Monetary Fund (IMF) concluded its consultations with the Greek authorities in the context of its Article IV mission with a statement issued on Friday afternoon in which its staff outline the challenges that the new administration will face.
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Fourth review talks conclude with fiscal differences remaining
EconomyProgrammeThe talks between the Greek authorities and the heads of institutions concluded on Wednesday as the fourth post-programme moves on to the next stage.