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EconomyMacroeconomy
Athens and lenders yet to agree on how to drop pension cuts without creating fiscal gap Comments by European Stability Mechanism managing director Klaus Regling have underlined that Greece and the institutions have yet to reach a formal agreement on the cancellation of next year’s pension cuts.
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EconomyMacroeconomy
Revision confirms second year of total fiscal surplus at 0.8 pct of GDP In the context of the second Excessive Deficit Procedure (EDP) notification of 2018, Greece’s statistical Authority (ELSTAT) announced on Monday the fiscal data for the 2014 – 2017 period. The data has been produced based on the Regulation ESA 2010 for the System of National Accounts.
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EconomyProgramme
Athens edges towards compromise on pension cuts but may have to plug fiscal gap It appears that the institutions are set to grant the Greek government’s request regarding the cancellation of the pension cuts that were due to kick in next year, but reports suggest that Athens and its lenders may still need to agree on a way to bridge an apparent fiscal gap in 2019.
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EconomyMacroeconomy
Budget primary surplus at 4.18 bln in Sept as EU co-financed projects fall short The budget primary balance came to a surplus of 4.81 billion euros in the first nine months of 2018, according to the preliminary budget execution bulletin for September published by the Finance Ministry (MoF) on Monday.
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EconomyProgramme
Athens to send draft budget to Brussels after talks with IMF on pensions The Greek government is expected to submit to the European Commission a version of its 2019 budget that is along the lines of the draft plan submitted to Greek Parliament on October 1, which includes a scenario in which the 1 percent of GDP in pension cuts agreed with the institutions are applied and one in which they are not.
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EconomyMacroeconomy
General govt primary cash surplus at 3.51 bln in August, arrears fall by 306 mln Greece’s general government (gg) primary cash surplus came to 3.51 billion euros in the first eight months of the year, reduced by 750 million euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
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EconomyMacroeconomy
FinMin sets out how it would alter policy mix to prevent pension cuts In its efforts to avoid the politically sensitive issue of cutting pensions further, the Finance Ministry presented in the draft budget this week an alternative scenario consisting of a significantly different fiscal policy from the one included in the Medium-Term Fiscal Strategy (MTFS) this summer.
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EconomyMacroeconomy
Draft budget contains two scenarios on pensions, charts course within agreed fiscal targets The Finance Ministry (MoF) tabled on Monday afternoon in Parliament’s Economic Affairs Committee the draft budget for 2019, which contains its fiscal estimates as well as the underlying macro assumptions.
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EconomyProgramme Question mark over pension cuts in 2019 draft budget as Athens looks to lenders The Greek government will not include next year’s pension cuts in the 2019 draft budget due to be submitted to Parliament on Monday as it steps up its efforts to scrap the measure, which was pre-legislated last year.
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EconomyProgramme
Athens prepares 2019 draft budget amid pension cuts dilemma The Greek government is set to take the next step in its efforts to call off next year’s pension cuts, when it submits the draft 2019 budget but finds itself in a delicate balancing act between domestic political pressures and the creditors’ concerns.