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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammeto generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super... will be abolished starting from October 1 for islands with higher incomes, which are also the most popular destinations, and is due to be extended to the other islands as of Jun 1, 2016. Other measures
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This is how things stand as bailout talks head for a brief pause
EconomyProgramme1 percent of GDP. On pensions, on top of the measures already implemented last summer, which are meant to yield 0.5 percent of GDP, an additional 1 percent is required for the next years. Half... for farmers and the self-employed. Tax Tax measures, which are expected to yield 1 percent of GDP
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The key elements of the draft agreement between Greece and lenders
EconomyProgrammeto be voted in the Parliament. Those measures, which are not quantified in the document, include: 1) Rationalisation of welfare benefits based on the recommendation of the social welfare review 2) Abolition... the use of the attrition rule starting from 1:5 in 2016 to 1:4 in 2017 and 1:3 in 2018.
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Supplemental MoU sets out path for maintaining fiscal sustainability
EconomyProgrammeworth 1 percent of GDP each will be implemented. This was a discussion that was conditional... will be 1:1. IAPR will also be able to benefit from the public sector mobility scheme, with full... welfare, on top of the existing pension reform that is seen yielding 1 percent of GDP by 2018
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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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What this week's VAT changes mean for household budgets and public coffers
EconomyProgrammeGoods (IELKA), basic food products correspond to 57 percent of total food purchases. This means... in a rise in their retail price by 8.8 percent, assuming that new rates are passed on in total to retail prices. The study shows that the estimated total burden on the average household from the VAT
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Government tables 2016 budget, upgrades GDP forecasts but leaves fiscal estimates unchanged
EconomyMacroeconomysessions. The discussion in the plenary is scheduled to start on December 1 and the budget is due... in 2016. This signals a revenue growth of 1 percent in 2016. Direct taxes are seen down 7.3 percent... interventions for a total of 5.73 billion euros for 2015 and 2016, of which 1.54 billion relate to this year
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Unemployment up for second straight quarter to 24.9 pct in Q1
EconomyMacroeconomy, despite easing by 1 pp to 50.9 percent in Q1. The most notable decline was posted in the next age group... for the second straight quarter by more than 1 pp quarter on quarter (QoQ) to 21.1 percent in Q1 from 22.6 percent in Q4. Meanwhile, the number of long-term (more than 1 year) unemployed fell to 839,800
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Bank of Greece reveals lenders' NPE challenge and sets out path to recovery
EconomyMacroeconomyof total exposures and have climbed to 108.4 billion or 45.1 percent at the end of June. Excluding... percent of total NPE reduction, corporate 16 percent, small businesses and professional 15 percent and shipping just 1 percent. In addition, the consumer and housing loan portfolios will contribute
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Public debt records back-to-back quarterly drops, falling to 393.49 bln in Q3
EconomyMacroeconomyof 1.6 billion euros in Repos. FSM loans continue to make up the bulk of the total, accounting for 61.... The weighted average maturity of the total debt fell marginally to 18.01 years in Q3, from 18.17 years in Q2... by residual maturity showed that long-term (over 5 years) debt made up 73.5 percent of the total, while
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