Economy
Troika review begins with fiscal targets and tax breaks in focus
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.
Greek economic sentiment and consumer confidence fall for third month in a row
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).
Value of HFSF participation in Greek banks falls to 17 billion
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.
Greek wages index falls 1 pct in Q2, down 23.8 pct since 2010
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 deposits up 0.6 pct to 164.23 bln in August, which sees year's highest inflows
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).
Credit in Greece contracts by 3.5 pct in August
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).
Greek trade deficit widens by 29.4 pct in July as import rate soars
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).
Greek primary budget surplus to August narrows to 1.95 bln on lower revenues
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 sees travel receipts rise again in July to reach 2.74 bln
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 banks' potential capital shortfalls set to be reduced by more than 2.5 bln
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.