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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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NBG turns profitable in Q3, NPE stock drops further by 1 billion
EconomyBankingrespectively. Unlike NPEs, the domestic NPL formation increased to 188 million in Q3, from just 2 million in Q2... are estimated at around 2 billion each. Since NPEs have decreased by 1.9 billion year to date... million hit from lower interest rates on reserves. On the cost front, operating expenses declined by 2
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Newsletter 103 - 20/01/2017
on TrainOSE’s debt to OSE, amounting to more than 700 million, is pending. 2 Budget primary surplus almost... in industry rebounded by 2 percent in November after an upward revised drop of 2.9 percent in October... recorded in consumer non-durables (+5.2 percent) and intermediate goods (+2 percent). On the flipside
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Newsletter 107 - 17/02/2017
adopting in its winter forecasts the Greek outlook for a 2016 primary surplus of (at least) 2 percent... the Fund before these dates. The IMF believes that Greece has to adopt 2 percent of GDP (or 3.6 billion... in 2018”. 2 GDP slips in last quarter of 2016 Headline figure indicates the first negative reading since
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Gains of 2.5 pct for stocks this week amid subdued trading volumes
EconomyTelecom – OTE (-2.3 percent) and Folli-Follie (-2 percent). The trading activity remained muted... profits to 343.3 million, while net sales fell by 2 percent to 6.21 billion. The Board of Directors proposes a dividend of 0.44 euros per share implying a dividend yield of 2 percent. Piraeus Port
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Q4 GDP contracts 1.2 pct QoQ, leading to recession of 0.1 pct for 2016
EconomyMacroeconomyof 2 percent in Q3, which also reflected a low base effect. The Q4 figure is also worse than the flash... percent QoQ and 2 percent YoY leading final consumption expenditure down 1.1 percent QoQ and up 0.6... by 2 million to 27 million in 2017. Imports Unlike exports, imports rebounded 4.5 percent QoQ in Q4
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NBG records net profits of 73 mln in Q4, turns profitable for whole year
EconomyBankingpercent. P&L ΝΙΙ fell by 2 percent QoQ to 440 million as the negative impact from loan deleveraging... almost doubled QoQ to 23 million. Operating expenses dropped by 2 percent QoQ and by 3.7 percent... to 12.3 billion in Q4 after the repayment of the Contingent Convertible bonds (CoCos) worth 2 billion
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IMF revises fiscal estimates upward, sees debt ratio at 162.8 pct in 2022
EconomyMacroeconomypercent of GDP (from 0.7 percent before) and for 2018 to 2 percent (from 1.6 percent). However... thereafter to -1.5 percent of GDP in 2019, to -1.7 percent in 2020, to -2 percent in 2021 and further.... The IMF also upgraded its debt ratio forecasts by 2 to 4 percentage points until 2022. Specifically
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Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
EconomyBankingand liquidations (4.5 billion). Selected sales are seen at 2 billion. P&L Net interest income (NII... increased by 2 billion QoQ to 8 billion in March, at a cost of -7 bps. The bank said it participated... banking and asset management with risk-weighted assets (RWAs) of 28.4 billion and an NPL ratio of just 2
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