The troika begins its latest review of the Greek program on Tuesday, just six days before the 2015 draft budget is due to be submitted to Parliament. The focus is on what fiscal targets the government will have and what tax breaks it will be able to offer.
Greece’s economic sentiment (ESI) decreased for the third successive month at an accelerating pace, falling to 99.3 in September from 102 in August, according to the European Commission (EC).
The publication of the Hellenic Financial Stability Fund (HFSF) interim financial report for the first half (H1) of 2014 showed a loss of 3.51 billion entirely due to accounting loss (unrealized capital loss) of 3.5 billion stemming from its bank holdings and warrants.
After a short-lived year on year (YoY) rise of 2 percent in Q1, the seasonally adjusted Wages Index fell 1 percent in Q2, while it remained stable quarter on quarter (QoQ), according to the Hellenic Statistical Authority (ELSTAT).
Greek private sector deposits rose 0.6 percent month on month (MoM) for the sixth straight month in August, with balances reaching 164.23 billion euros, according to the Bank of Greece (BoG).
The rate at which credit to the Greek private sector is contracting slightly eased to 3.5 percent in August from 3.7 percent in July, according to the Bank of Greece (BoG).
The rate at which Greece’s trade deficit is expanding was back into double digits in July, when it increased by 29.4 percent from 7.4 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
Greece’s budget execution showed the primary surplus narrowing to 1.95 billion in the 8-month period, according to the final data released by the Ministry of Finance (MoF). The surplus for the 7-month period had been 2.28 billion euros.
Greece's travel receipts increased for the second straight month in July, rising by 14.4 percent, according to the Bank of Greece (BoG). They were up 16.3 percent in June.
Greek media reported on Tuesday that the Ministry of Finance (MoF) will soon table in Parliament a draft bill which will allow the conversion of Greek banks’ Deferred Tax Asset (DTA) into tax credit.