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Small gains for building activity in Dec, up 7.1 pct in full 2023 -
Economic sentiment and consumer confidence gain ground in March -
Travel balance surplus more than doubles YoY in Jan -
Income tax and VAT revenues drive budget primary surplus to 3.38 bln in Feb -
Jan current account in surplus, trade balance worsens as exports drop again -
Industrial turnover returns to growth in Jan with 3.2 pct YoY rise, falls sharply MoM
Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
During a speech at the Delphi Economic Forum on Saturday, Bank of Greece (BoG) governor Yannis Stournaras presented the outcome of an exercise conducted by the central bank showing that mild debt relief in the form of smoothing interest payment for EFSF loans coupled with a primary surplus of 2 percent of GDP as of 2021 is consistent with Greece’s debt sustainability.
The second scenario (baseline low surplus) assumes a primary surplus of 3.5 percent of GDP only in the 2018-2020 period, which falls to 2 percent of GDP thereafter.
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