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S&P upgrades Greece’s rating by one notch, sees compromise on pension reform by March
Economypercent of total loans 2) Government has committed to increase public savings meaning... imposed in 2012. Primary surplus is expected to improve close to 2 percent by 2019, yet it would remain..., assuming optimistic nominal GDP growth of 5 percent, primary surplus of 2 percent and current borrowing
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Wide range of exacting issues lie ahead for Greece in first bailout review
EconomyProgrammecuts imposed in 2012 that would create a fiscal gap up to 2 percent of GDP (3.7 billion euros) and the huge stock of pending pensions, which have an estimated cost in excess of 2 billion. Non... sub-tranches of 2 and 1 billion were disbursed on November 23 and December 22 after
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingmillion and goodwill write-off of 432 million) 2) One-offs of 138 million, with the bulk stemming from... rose 2 percent QoQ, while eased 0.3 percent to 1.3 billion for the whole year. In Greece, costs fell... and subject to regulatory approval the bank will proceed to the repayment of the 2 billion
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Asking Greece to stack more austerity measures ignores past failings
Agorato 2018 and commit to an added 2 percent of GDP on stand-by in the event that targets are missed... an upwards-revised surplus of 705 million euros. This meant the target was missed by more than 2... package worth 2 percent of GDP, equally split between revenues and cuts, 2.4 billion euros on each side
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Commission sees lower Greek financing needs, provides timetable for course of programme
EconomyProgrammedisbursed last August, 2 billion in November and another 1 billion in December. In addition, another... euros (1.5 billion in Q1, 9.6 billion in Q2, 2 billion in Q3 and 5.1 billion in Q4), while an amount of 2 billion will be used for state deposit financing. Finally, for the first 8 months of 2018
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Newsletter 78 - 17/06/2016
if the primary surplus target of 3.5 percent is reduced to 2 percent after 2018, Greece’s debt is BoG concludes that even if primary surplus target of 3.5 percent is reduced to 2 percent after 2018... target. 2 The chill of post-truth politics Crude Brexit debate is reminiscent of Grexit referendum
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S&P affirms Greece’s rating with stable outlook
Economyand cumulative privatisation proceeds of 2 percent of GDP in the next four years. Under optimistic assumptions... below 2 percent, the rating agency stresses it will take another 17 years before the Greek debt ratio... growth of 2 percent in 2017, 2.5 percent in 2018 and 3 percent in 2019. On the banking sector, the rating
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Budget execution to Aug shows 3.8 bln primary surplus, 2.8 bln better than target
EconomyMacroeconomyexpenditure coming in 2 billion lower than target, while revenues beat target by 640 million. The monthly... lower than the target. Indirect taxes rebounded 11.2 percent to 2 billion in August, outperforming... billion, 2 billion lower than the target. According to the breakdown, salaries and pensions dropped
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Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
EconomyMacroeconomyin 2017 from 5.65 billion in 2016. On arrears, the draft budget notes that transfer of 2 billion euros... revenues. The most significant revenue interventions in 2017 involve: 1) Income tax reform (772 million) 2... for the protection of indebted households’ primary residence (100 million) 2) Savings from non-public sector
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Newsletter 93 - 21/10/2016
coupled with a higher increase of 2 percent in mining and quarrying turnover. Despite the modest... percent, while mining and quarrying turnover expanded at a higher pace of 2 percent. However.... 2 Polycrisis at the heart of Europe The EU requires real leadership to overcome its current
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