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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
IMF's Article IV consultation notes progress, reiterates low long-term growth outlook
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/] Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-large.jpg)
The IMF published on Friday the staff statement following the conclusion of the mission in the context of Article IV consultations, noting the progress that Greece has achieved in recent years on the fiscal and debt fronts, while highlighting the need to recalibrate the fiscal policy mix and continue the reform path that will unlock further growth potential.
The Fund notes that the outlook remains positive, with strong real GDP growth, improving public finances, and a declining debt-to-GDP ratio, adding that continued fiscal consolidation and reduced tax evasion have strengthened economic stability.
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