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Greek banks on cusp of improved liquidity conditions
Agorawould no longer be eligible as collateral for ECB funding from March 1, 2015. This means..., for each 1 billion euros of deposits that is returned to the banking system, Greek banks can redeem an equivalent amount of pillar bonds with a nominal value of 1.8 billion. Assuming that this 1
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Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
EconomyMacroeconomythe anticipated import rise of 3.3 percent. The unemployment rate is projected to slip by more than 1 percentage... by 0.6 percent in 2017. It is worth noting that nominal GDP is seen at 176.2 billion euros in 2016, 1... revenues. The most significant revenue interventions in 2017 involve: 1) Income tax reform (772 million) 2
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Broadly stable rate in time deposits, corporate loan rates fall in Aug
EconomyMacroeconomyGreek households’ new time deposit rate edged up by 1 basis point (bp) to 0.87 percent in August.... Lower decreases of 19 and 4 bps were recorded for amounts higher than 1 million euros and between 250,000 and 1 million euros respectively. As a result, corporate loan rates in Greece remained around 300
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingguarantee (pillar II) expenses. Operating expenses fell 1 percent QoQ to 247.3 million in Q3, while... total costs to stand below 1 billion for the whole year, from 750 million in the 9-month period. Over... for a gradual and progressive drop in the cost of risk to 1 percent in 2019. Eurosystem funding
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Athens grapples with awkward reduction of tax-free threshold
EconomyProgrammelegislated last May an income tax reform yielding 1 percent of GDP by 2018. This included an increase... of 7,723 euros), Greece could achieve 1 billion euros in savings that could sustainably finance... euros. The incremental revenues are seen at 1.8-2 billion euros (around 1 percent of GDP
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Newsletter 117 - 05/05/2017
and pensions (68 million) and halving the heating oil allowance. The pension savings of 1 percent of GDP... cuts of up to 18 percent, while the tax reform – which is expected to yield 1 percent of GDP... increase in 2019 and tax relief in 2020, each worth 1 percent of GDP. The targeted social expenses
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IMF sets out why it stands apart from eurozone on long-term growth prospects
EconomyProgrammefor growth, which the IMF does not see exceeding 1 percent over the next half-century even if structural..., which implies an annual reduction of Greece’s labour force just short of 1 percent (0.9 percent) each... the -0.5 starting point and achieve even the modest 1 percent growth that the IMF estimates
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CPI grows by 0.7 pct in October, positive for 10 successive months
EconomyMacroeconomythe 1 percent rise of September, Hellenic Statistical Authority (ELSTAT) data showed on Thursday... index of consumer prices (HICP) eased to a rise of 0.5 percent in October compared to a 1 percent rise... rose by 0.1 percent in October, driven mostly by rises in the price of clothing and footwear (+1
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GDP growth slows in Q3 amid lower 2017 forecasts
EconomyMacroeconomypercent increase in exports, which was offset by final consumption by falling by 1 percent and a 9.3... remained flat in Q3. In Q2 it recorded 1 percent growth year on year. General government consumption... by 0.1 percent QoQ and 1 percent YoY. Final consumption retains the lion’s share of GDP, making up
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Are hirings in the public sector out of control?
EconomyFeaturesand local government and the public bodies supervised by them is subject to a strict 1:4 (previously 1:5..., while the number of permissible hires for 2017 under the 1:4 rule was 2,453, the government claimed... not violate the 1:4 attrition rule, thanks to legislation brought in in 2016 which loosened hiring caps
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