Economy
Greek VAT gap narrowed 22.4 pct to 4.9 bln in 2014, EC report shows
The European Commission (EC) published a report on Tuesday examining the evolution of the VAT gap in EU countries based on the most recent data available, from 2014.
Gap of 555 mln emerges in three key taxes in July ahead of a crucial September for revenues
Along with the release of unpaid taxes on Monday, the General Secretariat of Public Revenues (GSPR) provided an update on the collection of key taxes, namely personal and corporate income tax and VAT, in July.
Terna Energy H1 2016 net earnings fall 53 pct on FX movements
Renewable energy company, Terna Energy’s results for the first half of the year show that consolidated sales came to 93.8 million euros compared to 85.4 million euros during the first half of 2015, an increase of 9.8 percent.
New overdue taxes increase by 811 mln in July, total stock at 90.4 bln
Greece’s new unpaid taxes rose by 811 million euros in July 2016, which is a decelerating pace compared to the increase by 1.22 billion euros recorded in the previous month, General Secretariat of Public Revenues (GSPR) data showed on Monday.
H1 exports show notable fall in many sectors but agricultural products buck trend
Greek exports fell 8.1 percent to 11.8 billion euros in the first half (H1) of 2016 from 12.84 billion a year ago, according to the Export Research Centre (KEEM) of the Pan-Hellenic Exporters Association (PEA).
HFSF study identifies constraints on developing dynamic NPL market
The Hellenic Financial Stability Fund (HFSF) published on Friday an updated analysis of the non-regulatory constraints and developments for the development of a non-performing loan (NPL) market in Greece.
Fitch affirms Greece’s rating at ‘CCC’
In its scheduled review published on Friday evening, Fitch affirmed Greece’s rating at ‘CCC’. It is worth noting that S&P has the highest rating (B-) on Greece, three notches above that of Moody’s (‘Caa3’) and two notches higher than Fitch.
Greek stocks climb 3 pct on week, banks post double-digit gains
The Greek stock market traded in positive territory climbing by 3 percent this week following modest gains of 0.7 percent in the previous week. The improving performance was accompanied by a notable recovery in the trading activity.
New round of cuts in supplementary pensions
The Unified Auxiliary Insurance Fund (ETEA) confirmed on Wednesday that 230-240,000 supplementary pensions, around 20 percent of the total number of 1.24 million, will be downward adjusted.
Stable rate in time deposits, corporate loan rates pick up in July
Greek households’ new time deposit rate was kept stable at 0.86 percent in July, Bank of Greece (BoG) data showed on Thursday.