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The quarterly national accounts from the income side
Agorapartner countries.[1] This suggests three things: 1) Keynesian policies work (when the private sector... the basis for real GDP from the production side (Table 1). Since all the goods and services... is labelled GDP from the income side. All three forms of adding up GDP (supply, demand, and income; Table 1
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Where is Odysseus? Part 3 - Participation
Agorais described in a book on the macroeconomy of Greece.[1] But, shortly underway, the Covid-19 pandemic... population (the “active” population vs the “inactive” population). Figure 1 below sets the stage... for the EU27 as a whole (the dotted line in figure 1). Here we see that the average EU27 PR
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Greek travel receipts rise 9.1 pct in January as surplus doubles
EconomyMacroeconomyGreece's travel receipts rose by 9.1 percent in January, after a modest increase of 1 percent..., up by 1 million compared to the 2014 figure, and direct tourism revenues above the 2014 level... Chairman Andreas Andreadis recently said that the euro’s drop against the US dollar to almost a 1:1
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Greece and lenders fail to bridge their differences in Brussels
PoliticsGreek Politics(roughly 1 percent of GDP) to pensions and another 1.8 billion euros per year to be raised from increases... a change in the VAT rates (6, 11 and 23 percent) with estimated additional revenues of around 1 billion... of the institutions’ demand for incremental revenues of 1.8 billion (1 percent of GDP) from VAT changes
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Athens and creditors edge closer on tax and pensions but gap remains on NPLs
EconomyProgrammeissues that need to be settled are: 1) The national pension, with lenders insisting the whole amount... contributions for supplementary pensions, but at a lower rate of up to 1 percentage point (pp) vis... of pension cost savings of 1 percent of GDP (1.8 billion euros) in 2016 to be met. Such a development would
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Greece and creditors eye compromise to move review along
PoliticsGreek Politicsof measures (1 percent of GDP from pensions, 1 percent from direct taxes and 1 percent... of the measures, particularly the 1 percent of GDP in extra fiscal interventions, and doubts... should resist demands from the IMF for the 1 percent of GDP in supplementary measures (which
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EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus
EconomyProgrammetarget of 3.5 percent by 2018 that would be covered by: 1) A holistic pension reform yielding savings of 1 percent of GDP and would also compensate for the Council of State decision ruling... tax reform (1 percent of GDP), including a lowering of the tax-free threshold to 8,182 (compared
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Newsletter 70 - 15/04/2016
of 3.5 percent in 2018 that would be covered by interventions in the pension system (1 percent), personal income tax (1 percent) and a series of parametric measures (1.2 percent). The draft IMF... pension reform (1 percent) and personal income tax (1 percent) as well as from VAT reform and the wage
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Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
EconomyMacroeconomyratio of 180 percent a reduction in the average interest rate by 1 percentage point (pp) reduces the debt ratio by 1.8 pp, while a rise in the primary surplus by 1 pp of GDP lowers the debt ratio by only 1 pp. Last May’s Eurogroup set the goals for gross financing needs (GFN) below 15 percent of GDP
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Greece agrees package of measures with IMF, eurozone to seal review
EconomyProgrammeas the pension cuts and reduction in the tax-free threshold yielding 1 percent of GDP each in 2019 and 2020... involve spending increases in 2019 and tax relief in 2020 to the tune of 1 percent of GDP each... to net pension savings of 1 percent of GDP in 2019 by extending the rules of last year’s pension
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