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  1. Primary cash balance falls to deficit of 877 mln in Dec, expenditure rises
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    for the full year up to December 2017, compared to a surplus of 1.95 billion euros for 2016, Bank of Greece (BoG) data revealed on Thursday. December’s figure is the first negative year-to-date balance since July 2017. The BoG notes that this year’s figure includes arrears’ repayments of 2.12 billion euros

    1%

  2. Piraeus Bank makes net profit of 12 mln in Q4, edges into profitability for 2017
    Image via www.piraeusbankgroup.com

    EconomyBanking

    for the full year and 124 million for Q4. Pre-provision income (PPI) fell by 51 percent quarter-on-quarter... million euros bringing the stock to 32.9 billion in Q4 2017. Across the year, NPEs were reduced by 3..., with the NPL coverage ratio at 75 percent from 69.7 percent in the previous quarter. Across the year

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  3. Primary cash surplus at 7.72 bln in March on strong underspend
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyMacroeconomy

    in the first three months of the year, Bank of Greece (BoG) figures showed on Wednesday. The headline figure... last year of -251 million. The breakdown of the figures revealed that on a monthly basis, revenues... for the first three months of the year showed that revenues rose by 613 million euros to 11.33 billion

    1%

  4. IMF raises forecast for primary surplus but differences with European lenders remain

    EconomyMacroeconomy

    of GDP this year and in 2022, while Greece is expected to run small surpluses of 0.1 and 0.2 of GDP in 2020 and 2021. The budget is seen in complete balance next year. In 2023, the overall balance turns... percent of GDP last year and is estimated at 3.8 percent of GDP in 2018, rising to 4.1 percent next

    1%

  5. Travel balance slumps to deficit of 6.9 mln in Feb as payments outpace receipts
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    Greece’s travel balance fell by 135.2 percent year-on-year in February compared to a rise of 3.4... to a surplus of 19.6 million for the same period last year. The increase in receipts is driven by a rise.... The average expenditure per trip rose by 3.4 percent year-on-year to 312.30 euros. Travel receipts from

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  6. Piraeus Bank sells first real-estate backed NPE portfolio worth 1.95 bln
    Photo by MacroPolis

    EconomyBanking

    formation has declined. The bank reported that year-on-year, NPEs have been reduced by 3 billion... successfully completing stress tests earlier this year, Greece’s four systemic banks are now heavily... was a successful year in meeting the NPE reduction targets but the reduction plan is backloaded

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  7. Unemployment at 20.1 percent in March
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyMacroeconomy

    ) data showed on Thursday. The unemployment rate in March last year was 22.1 percent. This March's... increased by 47,085 persons month-on-month, a rise of 1.3 percent. Compared to the same month last year... in unemployed by 14,591 compared to February. Against the same month last year, the number of unemployed

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  8. The race to reduce Greece's bad loans

    EconomyBanking

    down bad loans in the first quarter of the year. Excluding off-balance sheet items, the non... at 25.9 billion by the end of the year, and to fall further to 20.3 billion by the end of 2019... billion by the end of 2019. NPLs are targeted to fall to 13.4 billion by the end of this year

    1%

  9. Budget primary surplus at 617 mln in June as expenditure continues to fall below target
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    (MoF)on Monday. Last year’s figure for the same period came to 1.94 billion. The primary surplus beat... the second deficit recorded this year. For the same period last year, the deficit came to 1.60 billion... revenues increased by 1.1 percent year-on-year (YoY) to 3.73 billion, rising against May’s figure

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  10. Alpha Bank makes loss of 52.9 mln in Q2, reaching profit of 12.3 mln in H1
    Photo by MacroPolis

    EconomyBanking

    Alpha Bank reported a net loss of 52.9 million euros in the second quarter (Q2) of the year... of 65.2 million euros noted in the first quarter of the year. On an aggregate basis, net profits for the first half (H1) of the year came to 12.3 million euros. Core pre-provision profit (PPI) rose by 5

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