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Current account surplus narrows to 1.82 bln in August
EconomyMacroeconomybillion, while imports recorded a similar rate of decline of 5.9 percent to land at 26.36 billion... an increase of 607 million in residents’ holdings of foreign bonds and T-Bills. The corresponding liabilities also rose by 276 million, mostly due to larger foreign holdings of Greek government bonds and T
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IMF consultation report pinpoints health of Greek banks as central to growth
EconomyBankingof foreclosure’ to deter strategic defaulters”. Their success rate is still low as buyers are rare and 85..., holdings dividends and recoveries or liquidations, the public debt has been burdened by 45 billion... of the state’s holdings to the banks has been reduced to under 5 billion, leading to a potential
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Greek PMI falls again in July, dropping to 48.7 points
EconomyMacroeconomygoods. The rate of drop in July new orders was faster than that observed in June, mainly reflecting weaker demand. Nevertheless, new export orders increased for the third consecutive month at a rate which was the most marked over the past 3 years, yet only modest overall. Although the rate of decline
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Unemployment at 27.2 pct in May, hardly changed from previous months
EconomyMacroeconomyThe seasonally adjusted jobless rate slightly fell to 27.2 percent in May after remaining unchanged... in May, decelerating from the 0.8 percent drop recorded in April. The May YoY rate is the second lowest.... The respective YoY rate for unemployed displayed a decrease for the second consecutive month, with the May
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Q3 unemployment falls to 25.5 pct, lowest since 2012, but long-term jobless reach new high
EconomyMacroeconomyThe non-seasonally-adjusted unemployment rate eased again in the third quarter (Q3) of 2014... and displayed the unemployment rate eased to 25.7 percent in September from 26 percent in August. The year... group (25-29 years) posted a broadly similar trend with the jobless rate dropping by around 4 pp YoY
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Greek travel receipts continued upward course in October, rising by 4.6 pct
EconomyMacroeconomyGreece's travel receipts advanced for the fifth straight month, albeit at a much slower growth rate... in the number of tourists from the US (+27.8 percent) and Germany (+18.7 percent). The growth rate... in the travel spending per trip to 604 euros. The highest growth rate in arrivals was posted by those from
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Greek Q4 GDP QoQ drop revised to 0.4 pct, 2014 growth at 0.7 pct
EconomyMacroeconomythat the Q4 QoQ rate was downward revised for the -0.2 percent flash estimate released on February 13... percent in Q3. According to the flash estimates, Q4 GDP had grown by 1.7 percent. Q4 growth rate... strongly rebounded by 18.3 percent QoQ and 20.2 percent YoY. The QoQ rate is the highest reading
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New fiscal measures aim to edge Greece closer to deal with lenders
EconomyMacroeconomythat the government is currently considering to cover the estimated fiscal gap involve: 1) A unified VAT rate between 16-18 percent that will be effective in the second half of 2015. A lower rate will be applied to food and medicines. Greece currently has two main VAT rates of 13 and 23 percent and a lower rate
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PMI improves in May but points to further deterioration in manufacturing
EconomyMacroeconomymonth but the rate of contraction was moderate and slower than that of April. The largest drop... orders, while those from abroad fell at a rate broadly similar to that recorded in April. The survey... for the second straight month in May mainly reflecting the lack of pressure on resources. The rate
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Newsletter 29 - 05/06/2015
this year. Those measures mainly involve introducing a new VAT rate of 11 percent for to include... rate of 23 percent. According to the institutions, the The proposed measures would clearly require..., and by up to 8 percent for incomes above 500,000. At the moment the highest rate stands at 2.8 percent
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