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IMF forecasts high primary surpluses, tempers growth expectations
EconomyMacroeconomy. In the World Economic Outlook (WEO), real GDP growth is seen at 2.5 pct this year, slowing down to 2 pct... authorities presented in the draft budget of 2024. The longer-term outlook remains very tame... pct in 2023. On the fiscal front, the primary balance is expected to double next year to 2 pct of GDP
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Perceived corruption in Greece wanes but remains above global average
Societyimprovement last year compared to 2018. The organisation has a presence in over 100 countries and works... for highly corrupt to 100 for highly clean. Greece’s score in the 2019 report was 48 out of 100... surveyed in the latest report was 43 out of 100, leaving Greece with a slightly above average score
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Nobody has less confidence in their government than the Greeks, OECD finds
Societygovernment powers and fundamental rights are least guaranteed. 2) Size of civil service..., Greece spent 11.6 percent of its budget on healthcare, compared to an OECD average of 14.5 The gap was even wider when it came to the education budget, which was 7.9 percent of general government
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Greece's new finance minister lines up for a marathon (and several short sprints)
PoliticsGreek Politicsto miss their targets. Eurobank said revenues would only be in line with the budget if there is a widening.... The budget execution so far shows a primary surplus of 1.05 billion euros to April..., the official sector projects Greek unemployment will ease by at least 1 pp this year and a further 2 pp
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IMF report sees a number of risks lying ahead for Greece
EconomyProgrammebuoyancy as the economy recovers. In addition, the track record of under-executing the budget also points...-visit the projections at the time of the 2015 budget preparations. After the clearance of state... to 2 and 2.5 billion is foreseen in 2014 and 2015 respectively. Further policies should be tailored
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Two years on, Greek government ready to give up on higher heating fuel tax
PoliticsGreek Politicswith the troika ahead of preparing the 2015 budget. The government says that In contrast to heating oil... to the budget execution by September - the government plans to propose to the troika in September that the levy rates be slashed by 50 percent (to 0.5 – 2 percent), with the aim of gradually eliminating
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Greece is least socially just country in EU, report indicates
Society,” scoring 3.22. This is a full 2 points lower than the 2008 mark and well below the EU average of 5.7.... their finances deteriorate as they depended heavily on the state budget. (…) Similar trends occurred... budget was itself subjected to cuts. Eventually, at various time periods in 2011 – 2013 suppliers
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Greek debt: A case of learned helplessness?
Agorain the PSI had a 30-year maturity period, no principal repayment before the 11th year and a coupon of just 2... exacerbated the debt dynamics. The rates that were so punishing they pushed the budget’s interest payments... not to be given the opportunity to redirect budget resources and allocate any spare fiscal capacity to restore
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The one question SYRIZA needs to answer
Agorafrom the EFSF, around 2 billion euros of SMP profits and 3.5 billion euros from the IMF. The fact... on the 2015 budget, interest payments during this period will reach 2.2 billion euros by March, 3.4... or cut spending in 2015, even if the budget execution is not impacted by the uncertainty
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Newsletter 19 - 13/03/2015
by 1.8 points from 27.8 percent in Q4 2013. Primary surplus close to target Greece’s budget primary... million euros, a Public Investment Budget balance surplus of 206 million and an 11.1 percent increase... the shortfall. 2 A history of unresolved issues Germany and Greece need to find a shared path to the past Both
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