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  1. Moody's upgrade underlines gap between economic story and reality for households

    Economy

    The recent upgrade of Greece’s credit rating by Moody’s to investment grade highlighted... of the improved GGB credit rating. At the same time, Greek banks have been charging some... raised Greece’s credit score, with Fitch and DRBS also upgrading in the same year. However, during

    8%

  2. S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
    Photo by MacroPolis

    Economy

    S&P on Friday reaffirmed Greece’s sovereign credit rating at ‘BBB’ with a stable outlook, citing... 56 pct in 2016 to just 4.6 pct — enabling banks to extend credit and enhancing overall financial... not anticipate any credit action in the near term. However, a faster reduction in debt, sustained reform

    8%

  3. DBRS leaves rating unchanged at 'BBB', cautions about risks and challenges
    Photo by MacroPolis

    Economy

    DBRS has kept Greece’s credit rating unchanged at ‘BBB’ and the outlook remained stable. In March... that the credit rating remains constrained by the still-high debt ratio, low labour productivity..., particularly the current account deficit, also weigh on the credit profile. DBRS says that the rating

    8%

  4. Direct taxes jump by 46 pct to help Sept. revenues beat target for third month in row

    Economy

    in September, on the back of the ongoing plunge in VAT revenues and consumption taxes by 11.6 and 4.1 percent respectively. The most notable underperformance was evident in VAT on fuel and excise tax

    7%

  5. A closer look at Greece's 2013 budget primary surplus of 603 mln

    EconomyMacroeconomy

    for the full year. The latter stems from a 7.4 and 6.6 percent decrease in VAT revenues and consumption taxes respectively. Overall, 12-month indirect taxes were in line with target as slightly higher VAT

    7%

  6. Greek Jan-Apr primary budget surplus rises above 1 bln despite revenue shortfall

    Economy

    taxes beat the targets by 237 million. In particular, VAT retreated 4.4 percent in April and 1.8... million short of target. The former mainly reflects lower VAT on fuel by 382 million and the latter

    7%

  7. Two years on, Greek government ready to give up on higher heating fuel tax

    PoliticsGreek Politics

    on the respective VAT revenues, which more than offset the increase posted in the excise tax revenues..., the 10-percentage-point reduction (from 23 percent to 13 percent) in the VAT rate applied to food

    7%

  8. Lower expenditure helps Greece post 707 mln primary budget surplus in first half of 2014
    Photo by MacroPolis

    Economy

    non-tax revenues showed the highest outperformance. In contrast, VAT on fuel, liquidity support.... After a temporary hike in May, VAT revenues decreased by 17.6 percent in June, with the 6-month

    7%

  9. Troika review begins with fiscal targets and tax breaks in focus
    Photo by MacroPolis

    EconomyMacroeconomy

    ) Retaining the VAT rate on food and accommodation services at the lower rate of 13 percent..., trimming the solidarity levy by 30 percent and retaining the VAT rate for food and accommodation services

    7%

  10. Greek budget primary surplus at 3.57 bln by end of November, beating target by 691 mln

    EconomyMacroeconomy

    in the 11-month period is almost equally split between VAT revenues and consumption taxes, which decreased by 1.7 and 4.4 percent respectively. However, the MoF stressed that VAT revenues as well as excise

    7%