Economy
Industrial turnover down by 9.8 pct in Feb for fourth straight fall
The Turnover Index in Industry headed south for the fourth straight month in February but at a decelerating pace of 9.8 percent from a downward revised 15.6 percent in January, according to the Hellenic Statistical Authority (ELSTAT).
Greek current account deficit widens by 27.4 pct in Feb
Greece's current account (C/A) deficit widened by 27.4 percent to 929 million euros in February from 729 million last year, according to the Bank of Greece (BoG).
This is where Greek gov't could find cash to cover May's obligations
Following the submission of 187.5 million of non-competitive bids on Thursday, Greece rolled-over 3-month T-Bills worth 1 billion this week. This was the third key transaction related to payment of debt obligations over the past 10 days.
Lower spending, extra revenues result in budget execution beating targets in March
Greece’s budget execution showed the 3-month primary surplus rose to 1.74 billion, up 12.6 percent, while the 2-month underperformance of 173 million turned to an over-performance of 1.62 billion, according to the Finance Ministry (MoF) preliminary budget bulletin published today.
S&P downgrades Greece, sees economy shrinking by 1.5 pct in 2015
S&P unexpectedly downgraded on Wednesday Greece’s long- and short-term ratings by one notch to ‘CCC+/C’ from ‘B-/B’ with a negative outlook.
![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 sees Greek growth at 2.5 pct in 2015, debt at 172.7 pct of GDP
In its latest World Economic Outlook (WEO) and Fiscal Monitor reports published this week, the International Monetary Fund revealed its updated forecasts on the key Greek macro and fiscal figures.
Greek Eurosystem funding up by 2.9 bln in March, reaches total of 107.1 bln
After a sharp rise by 16.77 billion euros in February, Greek banks’ Eurosystem funding increased by another 2.93 billion in March, reaching 107.18 billion, according to the Bank of Greece's (BoG) monthly financial statement published on Wednesday.
ELSTAT sees 2014 primary surplus at 0.4 pct of GDP, debt at 177.1 pct
The Hellenic Statistical Authority (ELSTAT) published on Wednesday its first notification regarding the 2014 fiscal data according to the excessive deficit procedure (EDP) under the ESA 2010 standards.
Tax wedge for single, married Greeks well above OECD average
The tax wedge in Greece remained well above the OECD average in 2014, according to the organisation’s Taxing Wages 2015 report published on Tuesday.
General gov't cash surplus sees large contraction in Jan-Feb, arrears edge up
The general government (gg) primary cash balance showed the surplus shrinking by more than two thirds year on year (YoY), landing at 1.02 billion euros in the first two months of 2015 from 3.17 billion in the corresponding period last year, according to the bulletin published by the Ministry of Finance (MoF) on Tuesday.