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Revenues
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EconomyMacroeconomy
European Commission positive on Greece's macro and fiscal prospects Greece is showing signs of recovery and its economy is expected to strongly rebound as of 2017 if the second programme review is completed, the European Commission (EC) notes in its winter economic forecasts published on Monday.
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EconomyProgramme
IMF examines how Greece accumulated large pile of unpaid taxes and contributions The issue of Greece’s exceptionally high tax and social security debt is discussed in an International Monetary Fund paper published with the release of the Article IV consultation and ex-post evaluation earlier this week.
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EconomyProgramme
IMF sees much scope for reform progress, particularly on tax in Article IV report Despite the significant progress made so far, Greece faces fundamental challenges such as vulnerable public finances, notable tax evasion and ineffective tax administration, impaired bank balances sheets and pervasive structural obstacles to investment and growth, the International Monetary Fund’s Article IV consultation report concludes.
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EconomyProgramme![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF proposes rebalancing of fiscal policy, reform implementation and debt relief The International Monetary Fund’s executive board convened on Monday evening to discuss the Article IV consultation on Greece.
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EconomyMacroeconomy
Revenues reach 4.3 bln in January, beating target by 258 mln Greece’s revenues before tax refunds stood at 4.27 billion euros in January, beating the target by 258 million, according to preliminary figures published by the Independent Authority for Public Revenue (IAPR) on Friday.
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EconomyMacroeconomy
General gov't primary cash surplus up to 5 bln in 2016, arrears fall by 1.1 bln in Dec Greece’s general government (gg) primary cash surplus increased by 1 billion euros to 5 billion in 2016 from around 4 billion in the previous year, the Finance Ministry (MoF) gg bulletin revealed on Friday evening.
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EconomyMacroeconomy
New overdue taxes jump by 1.3 bln in Dec, total stock climbs to 54 pct of GDP Greece’s new tax debt exceeded the 1-billion mark in December as it climbed to 1.28 billion euros after a smaller increase of 890 million in November, General Secretariat of Public Revenues (GSPR) data revealed on Monday.
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EconomyMacroeconomy
Overdue contributions rise at accelerating pace of 615 mln in Q4, stock climbs to 17.54 bln The increase in unpaid social security contributions (SSCs) accelerated quarter on quarter (QoQ) to 615 million euros in the fourth quarter (Q4) of 2016, from 310 million in the previous quarter.
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EconomyMacroeconomy
Tax revenue overperformance leads budget primary surplus to 4.44 bln in 2016 Greece’s budget primary surplus almost doubled to 4.44 billion euros in 2016 from 2.27 billion in 2015, the Finance Ministry (MoF) final budget execution bulletin showed on Tuesday.
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EconomyMacroeconomy
Primary cash surplus of 1.95 bln in 2016 including arrears’ repayment of 3.85 bln Greece’s central government primary cash surplus fell to 1.95 billion in 2016 from 3.49 billion in the previous year, Bank of Greece (BoG) figures displayed on Tuesday.