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Taxes continues to drive budget outperformance in September
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Energy drives 13.8% YoY jump in August import prices
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Car sales bounce back with 1.2% YoY rise in September
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Draft budget for 2027 centred on strong surplus, selective support measures
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Industrial production jumps 5.8% YoY in Aug, led by electricity supply
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CPI accelerates to 5% YoY in Sep as energy dominates
Greek C/A deficit to July narrowed to just 156 mln with boost from tourism
The July current account (C/A) balance showed a surplus of 2.73 billion euros from 510 million euros last year, according to the Bank of Greece (BoG). The significant increase mainly reflects a jump in the current transfers’ surplus to 1.86 billion, from just 100 million last year, owing to an inflow of 1.5 billion related to SMP income. This was accruing to the ECB and payable to Greece following a Eurogroup decision in November 2012.
Excluding this one-off item, the July “recurring” figure is still materially improved, up 142 percent year on year (yoy) at 720 million, mainly courtesy of the trade deficit heading south (down 12.0 percent) and a services surplus hike (up 10.1 percent)...
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