Economy
Unpaid taxes rose by 1 bln a month in H1 2014, collection targets missed
The rate of increase in Greece’s unpaid taxes accelerated to 1.03 billion euros in June from 873 million in May and 763 million in April, according to data provided by the General Secretariat of Information Systems, which also revealed that most tax collection targets are being missed.
In third straight month of decline, industrial turnover falls 4.9 pct in May
The Turnover Index in Industry continued heading south for the third successive month dropping by 4.9 percent in May from a revised -10.5 percent in April, according to the Hellenic Statistical Authority (ELSTAT).
Lower expenditure helps Greece post 707 mln primary budget surplus in first half of 2014
Greece’s budget execution showed a primary surplus of 707 million euros in the first half of the year from a primary deficit of 1.51 billion in the corresponding period last year, according to the final data released by the Ministry of Finance (MoF).
As imports rise, Greek C/A balance flips back to deficit in May
Greece's May current account (C/A) balance showed a deficit of 246.2 million from a surplus of 69.6 million last year, according to the Bank of Greece (BoG).
Greece sizes up task of restructuring corporate debt
The Bank of Greece (BoG) released on Friday the findings of a recent workshop in which representatives from the Finance Ministry, the EU, banks, corporates, international experts and consulting firms participated, generating a clear idea of what kind of debt restructuring would be needed for Greek corporates.
Recovery of farming subsidies threatens to widen Greek fiscal gap
One day after the completion of the troika’s discussions with the Greek authorities, ahead of the next review due in the second half of September, local media indicate that a European Court of Justice (ECJ) decision may cause a fiscal gap of 600 million euros.
Greece ponders how to deal with rising unpaid private debt, which hit 88 pct of GDP
Unpaid private debt in Greece is estimated to have reached around 160 billion euros, which corresponds to 88 percent of GDP, but was largely ignored until the last few days, when it became a key issue in the discussion between the government and the troika.
Greek banks' Eurosystem funding drops to 44.95 bln in June, lowest since Jan 2010
Greek banks’ Eurosystem funding dropped by another 5.71 billion euros in June, after falling by 11.3 billion in May, according to the Bank of Greece's (BoG) monthly financial statement.
Value of HFSF's shareholdings in core Greek banks sinks to 18.5 bln
The recent publication of financial statements for the first quarter of 2014 by Greece's bank rescue fund, the Hellenic Financial Stability Fund (HFSF), revealed a profit of 1.45 billion euros for the period in question. However, the value of HFSF's shareholdings in Greece's core lenders has dropped dramatically.
Central gov't primary cash surplus reaches 1.37 billion in first half of year
Greece’s central government net balance to June on a cash basis showed the deficit shrinking by 78 percent, or 6.8 billion euros, to 1.82 billion from 8.72 billion last year, according to the Bank of Greece (BoG).