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IMF warns of uphill battle for economy as Athens seeks to close 2020 fiscal gap
EconomyProgrammedemographics. Based on the latest growth forecast of 2 percent this year and next and long-term growth below 1 percent, the Fund estimates that will take 15 years for per capita income to return... and spending measures announced by the government. The shortfall is reportedly seen at around 1 billion
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Mission chiefs pick up fifth review baton as Greece mulls new bond issue
EconomyProgrammethat Greece is expected to introduce from May 1. This will succeed the primary residence protection... plans to raise 2-2.5 bln euros and the yield is expected to be around 2 pct, if a landmark 15-year bond.... The PDMA outlined four main objectives in the funding policy of 2020: 1) Enhance market access
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Mitsotakis targets inflation on path to elections in 2023
PoliticsGreek Politicsto move ahead quickly with the minimum wage increase, after the first instalment of 2 pct on Jan 1... that the second instalment of the minimum wage increase will be implemented on May 1, which is earlier than... popularity than the pandemic. The 2 pct increase at the beginning of the year took the gross monthly
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OECD sees recovery slowing, urges fiscal discipline
EconomyMacroeconomythe economy to outdo EU peers in 2023 as well, with growth closer to 2 pct. The authorities see 1.8 pct growth this year on the back of private consumption growing by 1 pct, investments rising by 15.5 pct and exports continuing their growth path albeit with a modest 1 pct. The OECD also draws attention
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Bravo, Bank of Greece
Agorafor Greece’s large Resilience and Recovery Plan (RRP) efforts.[1] The reader is struck by the clear... the long rebound from both the Great Recession and Covid episodes.[2] The note makes forecasts for 2024...: Odysseus' Plan for the Long Journey Back to Debt Sustainability" published in 2020. [1] The RRP has
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Newsletter 418 - 29/03/2024
costs across the EU, with the Greek figure rising by 1 euro to 15.7 euros/hour, also up by around 2... by the pro-government newspaper Proto Thema on 1 March 2023, shortly after the accident... points, from -4.2 points in the previous month. The services index increased by 2 points to 39.2. Retail
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Resurfacing of Prespes Agreement troubles PM as poll picks up on protest vote
PoliticsGreek Politics, and Demokrates – a left-nationalist party led by former PASOK minister Andreas Loverdos – garners 2 pct.... The results would yield 8 seats for ND, 4 for SYRIZA, 3 for PASOK, 2 apiece for Communist Party KKE and Greek Solution, 1 for Course for Freedom and 1 for New Left. The qualitative findings hint
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Newsletter 436 - 11/10/2024
billion this year and rise by over 1 billion euros in 2025 to 26.51 billion euros. The Finance Ministry... above 2 pct of GDP and the new SGP rules that is designed to place caps on primary spending... revenues from the reduction in social insurance contributions by 1 percentage point and 238 million euros
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A breakdown of what Tsipras and European lenders agreed to
EconomyProgrammedeficit clause to be implemented retrospectively as of January 1, 2015. o Adopt a series of product... total of 50 billion. Half of this amount will be used for the repayment of banks’ recapitalisation... fiscal path or higher privatization proceeds. In addition, restoring market access could lower the total
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Central gov’t debt rises to 314.6 bln in Q3 on eurozone tranche and GGB redemptions
Economy. In addition, GGBs now account for 19 percent of total debt in Q3 down for 21.2 percent in Q2. GGBs held... stable QoQ at 14.92 billion, making up 4.7 percent of total, while repos fell to 9.81 billion (3.1 percent of total). In addition, the Bank of Greece holds loans of 3.79 billion. Special purpose
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