Economy
Gov't submits reform plan that raises contributions and cuts future pensions
The government disclosed on Monday afternoon its final proposal for a unified social security system, which was sent to the institutions ahead of the first programme review later this month.
PMI above 50 points in Dec for first time in 16 months but underlying problems remain
Greece’s Manufacturing PMI edged over the 50-point mark, which separates growth from contraction, and reached 50.2 in December from 48.1 in November, Markit’s survey showed on Monday.
Coalition poised to unveil pension reform proposals, hoping to avoid cuts
The Greek government appears to have finalised its proposals on pension reform and is set to submit them to the institutions ahead of the start of the first programme review in mid-January.
Retail sales fall at slightly slower pace of 3.9 pct in Oct
The turnover of Greece’s retail trade index continued heading south in October, when it dropped by 3.9 percent from a 5.3 percent decrease in September, Hellenic Statistical Agency (ELSTAT) data showed on December 31.
Credit contraction further accelerates to 2.2 pct in November
Greek bank credit contraction further accelerated to 2.2 percent in November from an upward revised 2 percent in October, Bank of Greece (BoG) figures displayed on Wednesday.
Deposit flow remains negative for the second straight month with outflows of 390 mln in November
The Greek banking system recorded deposit outflows for the second successive month of 390 million in November from 681 million in October, Bank of Greece (BoG) figures displayed on Wednesday.
Greece close to agreement that would unlock sale of Astir Vouliagmenis
The Hellenic Republic Asset Development Fund (HRADF) is close to reaching an agreement that will unlock the sale of Astir Vouliagmenis, according to market sources.
The agenda of the first programme review shapes up with thorny issues
Following the disbursement of the second sub-tranche of 1 billion on December 23, the next challenge, the biggest since the signing of the third programme in the summer, involves the completion of the first review.
Tax arrears jump by 1.45 bln in November to a total of 11.83 bln year to date
After a short-lived rise by less than 1 billion in October, Greece’s new unpaid taxes increased by 1.45 billion in November, General Secretariat of Information Systems (GSIS) data showed on Monday.
Notable increase in grants to social security sector leads to budget primary deficit in Nov
Greece’s budget primary surplus was confirmed at 4.34 billion euros in the 11-month period of 2015, up by 21.7 percent from the corresponding period last year, according to the Finance Ministry (MoF) final budget figures published on December 24.