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Greek Q4 GDP QoQ drop revised to 0.4 pct, 2014 growth at 0.7 pct
EconomyMacroeconomythat the Q4 QoQ rate was downward revised for the -0.2 percent flash estimate released on February 13... percent in Q3. According to the flash estimates, Q4 GDP had grown by 1.7 percent. Q4 growth rate... strongly rebounded by 18.3 percent QoQ and 20.2 percent YoY. The QoQ rate is the highest reading
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New fiscal measures aim to edge Greece closer to deal with lenders
EconomyMacroeconomythat the government is currently considering to cover the estimated fiscal gap involve: 1) A unified VAT rate between 16-18 percent that will be effective in the second half of 2015. A lower rate will be applied to food and medicines. Greece currently has two main VAT rates of 13 and 23 percent and a lower rate
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PMI improves in May but points to further deterioration in manufacturing
EconomyMacroeconomymonth but the rate of contraction was moderate and slower than that of April. The largest drop... orders, while those from abroad fell at a rate broadly similar to that recorded in April. The survey... for the second straight month in May mainly reflecting the lack of pressure on resources. The rate
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Newsletter 29 - 05/06/2015
this year. Those measures mainly involve introducing a new VAT rate of 11 percent for to include... rate of 23 percent. According to the institutions, the The proposed measures would clearly require..., and by up to 8 percent for incomes above 500,000. At the moment the highest rate stands at 2.8 percent
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Greece submits proposals to lenders in hope of paving way for agreement
EconomyProgrammekey proposals: VAT The Greek proposal agrees the institutions’ proposal for a super-reduced VAT rate... and water (excluding sewage), while all other products and services will have a VAT rate of 23 percent... to increase the rate of the tonnage tax and phase out special tax breaks of the shipping industry
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European Commission evaluates impact of bailout programme
EconomyProgrammein a super-reduced rate of 6 percent for pharmaceuticals, books, newspapers, magazines and theatre, a reduced rate of 13 percent for basic food, water, energy and hotels and a standard rate of 23... that the previously reduced VAT rate on restaurants provided seven times the tax reduction to the top-income
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Greek 2016 draft budget contains 6.4 bln in new fiscal measures, sees recession ahead
EconomyMacroeconomyand imports to remain stable. The unemployment rate (according to national accounts not comparable... to 41.74 billion. After a rise by 5.5 percent to 5.83 billion in 2015, the rate of increase... of 2014, the MoF notes that after the signing of the MoU the rate of arrears increase is expected
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Gov't submits reform plan that raises contributions and cuts future pensions
EconomyProgrammereplacement rate. This rate stands at 12 percent for 15 working years, at 37.5 percent for 35 working years and at 46.7 percent for 40 working years. 6) The overall main pension replacement rate also takes... euros for 35 working years the replacement rate stands at 76 percent, while a salary of 2,000 euros
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Unemployment edges down to 24.5 pct in Oct, lowest since May 2012
EconomyMacroeconomyGreece’s seasonally adjusted unemployment rate continued its slight downward trend easing to 24.5.... As a result, the relevant jobless rate also displayed a downward movement to 24.4 percent in October... the higher year on year (YoY) drop in the jobless rate to 30.9 percent from 34.2 percent in October
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Newsletter 81 - 08/07/2016
of the ECB waiver. The unemployment rate edged down for the third successive month to 23.3 percent... agreement. Unemployment falls again The seasonally adjusted unemployment rate fell to 23.3 percent... by 91,000 over the same period. The unemployment rate is at its lowest level since March 2012. New time
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