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Trade deficit growth slows to 4 pct YoY in July driven by oil and non-EU markets
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Q2 GDP moderates further to 1.7 pct YoY as households spending slows
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Jobs in education lead negative hiring balance of 20,728 in July
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Seasonal factors take unemployment rate to 8.6 pct in Q2 - lowest since 2008
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ELSTAT resumes monthly unemployment updates after review, rate at 8 pct in July
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PMI improves significantly in Aug, despite exports orders falling for four straight months
Several obstacles on narrow fiscal path to new tax cuts
The Greek government finds itself under severe pressure following mass protests across the country in relation to the Tempe crash nearly two years ago. It should be considered a given that once the dust settles it will attempt to change the sentiment with some voter-friendly initiatives and its tried and tested approach of leaning towards the middle class with pledges of lowering the tax burden.
Since the turn of the year government officials have been briefing that the Finance Ministry is working on changes to the tax regime, with a focus on lowering the tax burden for annual incomes between 20,000 and 50,000 euros.
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