Macroeconomy
Report shows Greek tax burden increased in 2015, remaining above OECD average
The latest OECD report on Revenue Statistics published on Wednesday revealed Greece’s tax burden increased further by 1 percentage point (pp) to 36.8 percent of GDP in 2015 and remained above the OECD average of 34.3 percent for the third successive year.
Economic sentiment and consumer confidence deteriorate in November
Economic sentiment (ESI) in Greece fell by 1.4 points in November after improving by 2.4 points in October, European Commission (EC) figures displayed on Tuesday.
Q3 GDP rebounds 0.8 pct QoQ and 1.8 pct YoY, above flash estimates
The Greek seasonally adjusted (SA) GDP at constant prices rose again in the third quarter (Q3) of 2016, when it shot up by by 0.8 percent quarter on quarter (QoQ), after an upward revised increase by 0.4 percent in Q2, the Hellenic Statistical Authority (ELSTAT) provisional estimates displayed on Tuesday.
Bank credit contracts by 1.6 pct in Oct on loan deductions of 308 mln
The rate of credit contraction in the Greek market slowed slightly to 1.6 percent in October from 1.7 percent in September, Bank of Greece (BoG) figures displayed on Monday.
Deposits rise to 124.6 bln in Oct on inflows of 1 bln
The Greek market posted deposit inflows of 1.02 billion euros in October after outflows of 379 million in September, Bank of Greece (BoG) figures showed on Monday.
OECD expects Greek economy to recover, stresses need for structural reforms and debt relief
In its latest Economic Outlook report published on Monday, the Organisation for Economic Cooperation and Development said it expects a rebound in the Greek economy in the next two years supported by structural reforms, rising business and consumer confidence and stabilisation of the economic and political environment.
Budget primary surplus to Oct confirmed at 6.5 bln, 2.9 bln above revised target
Greece’s budget primary surplus was confirmed at 6.5 billion euros in the 10-month period of 2016 from 4.53 billion a year ago, the Finance Ministry (MoF) final budget execution bulletin showed on Thursday.
Fiscal Council adopts 2017 budget forecasts with three reservations
Following the tabling of the 2017 budget in Parliament on Monday, the Greek Fiscal Council published on Tuesday its opinion, which concludes that it adopts the forecasts but under three reservations.
Travel receipts rebound 2.3 pct in September, 9-month figure still points to a decline of 5.5 pct
Greece's travel receipts rebounded for the first time in the last six months by 2.3 percent in September, Bank of Greece (BoG) figures displayed on Tuesday.
Budget for 2017 sees primary surplus at 2 pct on 2.6 bln fiscal measures, strong growth
Finance Minister Euclid Tsakalotos tabled in Parliament on Monday afternoon the 2017 budget detailing the government’s fiscal and macro estimates for 2016 and 2017.