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Greece's fiscal path becoming clearer; sizeable adjustment lies ahead
EconomyMacroeconomyAfter two years of fiscal relaxation across the eurozone thanks to the activation of the escape clause, allowing fiscal rules to be eased so governments could cushion the blow of the pandemic, Greece’s future fiscal path started to take shape over the last few days.
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BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
EconomyIn the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher.
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DBRS moves Greece a notch closer to investment grade as Moody's holds off
EconomyThe Greek authorities anticipated two credit rating upgrades on Friday but had to settle for one as DBRS upped the country’s rating by one notch and just one step away from investment grade. The outlook was also revised from positive to stable.
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Some tasks, risks left as Greece takes another step to exit from post-bailout surveillance
EconomyProgrammeGreece has one more step to take before it completes its post-programme surveillance after the institutions published the report that accompanies the latest review, the thirteenth since the summer of 2018 when Greece agreed to a number of commitments that are due to be delivered by this summer.
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Central govt debt rises again in Q4, reaching 388.3 bln euros
EconomyMacroeconomyGreece’s central government debt increased by roughly 2 billion euros in the last quarter of 2021 to 388.34 billion euros, from 386.82 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Friday.
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Final budget data for 2021 affirms revenue overperformance, primary balance below 6 pct of GDP
EconomyMacroeconomyThe budget primary balance for the full year landed at a deficit of 10.33 billion euros in 2021, compared to a deficit of 18.2 billion in 2020, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
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First bond of 2022 attracts fewer offers, more than double last year's yield at 1.83 pct
EconomyGreece stepped into the international markets on Wednesday with an inaugural 10-year benchmark, rolling out its 12-billion-euro debt strategy of 2022.
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Fitch improves outlook to positive, sees investment grade hinging on fiscal performance and banks
EconomyFitch got the schedule of rating reviews in the new year underway with an upgrade of Greece’s outlook to positive from stable, while it reaffirmed the rating at ‘BB’.
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PDMA's debt strategy for 2022 includes green bond in 12 bln haul
EconomyGreece’s debt managers (PDMA) published last week the debt strategy for next year, which will include an inaugural green bond in the second half of 2022.
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PBO outlines positives from 2021, warns about uncertainty in 2022
EconomyThe Parliamentary Budget Office (PBO) published its last report for 2021, in which it outlines the favourable macro and fiscal conditions evident during the first nine months of the year.