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China's footprint in Southeast Europe: Constructing the "Balkan Silk Road"
Agorabillion! [3] For countries participating in the 16+1 framework, Chinese capital and infrastructure... exists the “16+1” initiative. The 16+1 framework seeks to improve trade and economic relations between... and Slovenia. The 16+1 club includes current and non-EU members, NATO members and EU candidate countries
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Newsletter 29 - 05/06/2015
lenders are demanding new fiscal measures of around 3 billion, which is markedly higher than the 1–1.5... surplus targets to 1 percent of GDP for 2015, 2 percent in 2016, 3 percent in 2017 and 3.5 percent..., for the 1 percent primary surplus target to be met, additional measures of 3 billion have to be adopted
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The case of SYRIZA's fiscal performance
Agoraas regards the overall fiscal balance on an ongoing basis. Figure 1 below shows in the bold line what this 12-month moving average looks like from December 2013 through August 2021. Figure 1 also... be rolled over, and that no new net debt be incurred.[1] To allow for “normal” shocks and noise around
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The key points from Greece's proposal to lenders
EconomyProgrammein 2016 (excluding VAT) incorporate: 1) Change of the VAT rates from the current level of 6.5, 13... will be implemented as of October 1. 2) Introduction of a reward point system for the registration of receipts in an effort to increase VAT and income collection. 3) Increase in the solidarity levy rates to 2% (from
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How big is the gap separating Greece and the institutions?
EconomyProgrammefor 2016 (2.87 percent of GDP) that would result in a primary surplus of 1 percent of GDP for 2015... to Greek Prime Minister Alexis Tsipras on June 3, while adding some of the measures proposed by Greece... on revenues of 1 percent of GDP on an annual basis compared to the 0.74 percent proposed by the Greek
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European Commission review of Greek programme: The key points
EconomyProgrammethe end of August 2014. Following the recent 5-year bond issue of 3 billion, these needs have been... through repo operations which would fetch up to 3 billion and b) use of idle resources available in other... and 3 pp in 2015-16. After a material improvement in 2013, the Current Account (C/A) balance
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Is Greece on track to decouple from fossil gas?
Agoradecreased by 4.02 TWh, followed by industry (-3.37 TWh) and distribution networks (-1. 3 TWh). However... gas imports were literally null (Figure 1). Figure 1: Russian gas imports from the Turksteam pipeline...; this corresponds to a 67.3% decrease compared to the five-year average (Figure 3), which highlights
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A closer look at Greece's revised proposals to lenders
EconomyProgrammeinclude: 1) Increase in the corporate income tax rate by 3 percentage points to 29 percent from 26... with those of the institutions and now sees a primary surplus target of 1 percent of GDP for 2015... to a total number of 35,000 VLTS that are expected to be installed in the second half of the year. 3
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Greece's updated proposals to lenders and how they compare to previous efforts
EconomyProgrammein the previous proposal. The pension interventions include: 1) Early retirement restrictions totalling... the cut by 3.9 pp that was implemented by the previous government as of July 1, 2014. At that time, employer social security contributions (SSC) were reduced by 2.9pp and employees’ by 1pp. 3) Increase
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Macroeconomic fundamentals for Greece
Agora(2020-2029)? Demographics. To answer this question, let us start with Figure 1. Data are from the UN’s most... of the labor force. Figure 3 indicates the assumption that the unemployment rate can fall further... of the 2020s (Table 1). Until around 2025, the cyclical recovery is overriding the demographic anchor
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