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Accommodation and food services index rises by 13.4 pct in Q2
EconomyMacroeconomymillion this year. If confirmed, this would mean 1 million higher arrivals compared to last year’s figure of 24 million and 1 million above SETE initial estimate of 25 million. In addition, Andreadis forecasted direct tourism revenues to reach 14.5 billion in 2015, 1 billion or 7.4 percent above last
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The pension and revenue interventions Greece has to make to meet its 2016 fiscal target
EconomyProgrammesavings of 1 percent of GDP for 2016. In the 2016 budget, the Finance Ministry (MoF) adopted those cost... increase in the social security contributions by 1.5 percentage point (1 for employers and 0.5... the fiscal target of 0.5 percent of GDP. The key ones are: 1) VAT streamlining (900 million
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Some progress made as Greek programme review heads for break
EconomyProgrammeto Athens on April 2 to resume the discussions with a view to conclude as soon as possible”, according... scale are estimated at around 1 billion euros, while an increase in the solidarity levy rates is also considered, which could fetch another 1 billion in tax revenues. Another tax issue relates
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IMF sets out stall ahead of crucial Eurogroup by proposing immediate debt relief
EconomyProgrammesustainable, the IMF suggests: 1) Maturity extension of 14 years for EFSF loans, 10 years... reduce gross financing needs and the debt ratio by around 7 and 25 percent of GDP respectively by 2060. 2... is weaker (1 percent) and primary surplus lower (1 percent of GDP), debt would not become sustainable
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Net profit of 87 mln for NBG in Q1
EconomyBankingand reduced operating expenses. In more detail, net interest income (NII) rebounded 1 percent QoQ... by 1 billion in 2017, while the NPL ratio is seen down to mid-teens in the medium-term... 2 billion to 20.8 billion in mid-May. The latter is split into ELA funding of 11.2 billion and ECB
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Greece, lenders tie up some loose ends and continue negotiating
EconomyProgrammea sharp reduction in the tax-free threshold and cuts in main pension yielding savings of 1 percent... of 1.8 billion euros (1 percent of GDP). The government proposed a reduction in the lower tax rate from... of both measures and counter-measures as of January 1, 2019. However, this is subject to Greece
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Labour reforms, fiscal measures loom largest as Athens resumes talks with lenders
PoliticsGreek Politicsto be implemented from January 1, 2019. Athens is hoping that the volume of measures will be reduced slightly from 2 percent of GDP, or 3.6 billion euros, and that it will not have to reduce pension spending... since) by 1 percent of GDP in one go from 2020. This seems to be the proposal from the lenders
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Newsletter 141
fluctuated in recent months. 2 Current account surplus at 1.21 bln in Sept Headline figure driven... and quarrying by 10.6 percent, along with a fall of 1 percent in manufacturing. Industrial turnover..., capital goods by 7.2 percent and consumer non-durables by 1 percent. Intermediate goods were up by 9.7
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Alpha Bank posts net profits of 65.2 mln in Q1, NPEs fall for fifth quarter
EconomyBankingsegment increased by 16 million euros, and declined by 2 million euros in the wholesale segment. Within... by 9.1 percent QoQ to 267.8 million, declining by 1 percent YoY. The cost to income ratio came... by 1 billion QoQ to 35.9 billion at the end of Q1, increasing by 2.8 billion YoY. On a domestic
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EU elections in Greece: Applying a different scale of values
Agorato eliminate their debt over a period of 120 months. The opposition leader also said he would make 2.... He said he would instead implement a 1:1 hiring ratio. Three months later, at New Democracy’s party... impact at around 1 billion euros, while the institutions reportedly think it is closer to 1.5 billion
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