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Newsletter 235 -17/01/2020
was 2.82 billion, municipalities spent 1.12 billion, social funds 166 million and 859 billion
20% -
Slight rise in deposits for March but outflows at 2.2 bln for 2014
EconomyMacroeconomyGreek private sector deposits rose 0.3 percent month on month (MoM) in March, with balances reaching 161.05 billion euros, according to the Bank of Greece (BoG). Net flow turned positive for the first time since December with inflows amounting to 501 mi...
17% -
Primary cash surplus to Oct at 4 bln, including arrears repayment of 2.2 bln
EconomyMacroeconomyGreece’s central government primary cash surplus fell by 875 million eurso to 3.97 billion in the 10-month period of 2016 from 4.84 billion a year ago, Bank of Greece (BoG) figures displayed on Thursday. This year’s figure, though, incorporates arrears’...
17% -
Budget execution continues to outperform in June, led by 2.2 bln in excess taxes
EconomyMacroeconomyThe budget primary balance came to a surplus of 2.12 billion euros in June, compared to a deficit of 3.43 billion euros in the same period of 2022, according to the preliminary Finance Ministry (MoF) budget execution data released on Monday. In the firs...
17% -
Looking to build on support for relief measures, ND unveils new tax bill
PoliticsGreek Politicsof a flat tax aimed at convincing wealthy individuals to move their tax domicile. The non-dom scheme will offer anyone who declares their global income in Greece a flat tax of 100,000 euros. To qualify... years. If the investment reaches 1.5 million euros, the flat tax will be halved. Investments of 3
16% -
National Bank reports 1.15 bln H1 profit on back of 1 bln deferred tax
EconomyBanking. On the cost front, operating expenses fell 12 percent YoY in H1, while remained flat QoQ... in Q2 from 2.36 percent in Q1 and 2.71 percent in Q2 2013. Gross loans remained almost flat YoY and QoQ... remained flat QoQ on sight net additions offset by lower state deposits. National’s loan to deposit
14% -
Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingremained flat QoQ at 51 percent. Along with that of Eurobank, Piraeus coverage ratio stands... by 1 percent QoQ, cost of risk remained flat at 2.6 percent. Cumulative provisions (LLRs) improved... and Eurobank at 103 percent and lower than Alpha’s at 119 percent. Eurosystem funding remained flat QoQ at 10
14% -
Fiscal Council endorses fiscal and macro assumptions but warns of potential obstacles
EconomyMacroeconomy. Also, the upcoming pension reform will keep spending flat in absolute terms flat and a declining... that public investments will stay flat over the period all the heavy lifting in delivering this level
14% -
Greek primary cash surplus more than doubles to 2.45 bln at end of August
EconomyMacroeconomydifference on the preceding month. Debt The outstanding state debt stayed flat year to date at 321.5 billion... to date. It was down to 55.93 billion at the end of August, while it remained flat MoM. The year to date
12% -
Athens bourse dives 10.54 pct on Monday, falling to lowest since June 2012
Economythe FTSE/Large Cap index constituents, only one share remained flat and the other 24 stocks recorded...: Lamda Development (flat), Grivalia (-3.9 percent), Jumbo (-5.6 percent), Piraeus Port Authority
12%