High energy prices fuel uncertainty on fiscal front
Output and new orders drop to lowest since Mar 2021, forcing PMI down by 2.7 pts
Deposit rise of 1.3 bln in May led by corporates as household savings drop
Economic sentiment drops by 3.7 pts in June as all components deteriorate
Jan-May primary budget deficit contained at 1.49 bln on back of property tax, VAT intakes
Seasonal jobs account for 7 in 10 hirings as balance nears 100,000 in May
Greek tax wedge remained far above OECD average in 2015
The tax wedge in Greece remained well above the OECD average in 2015, according to the OECD Taxing Wages 2016 report released on Tuesday.
The report highlights that the combined employee and employer social security contributions account for 82 percent of the total tax wedge in Greece, which is 19 pp above the OECD average of 63 percent.
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