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Tourist arrivals in June increase 13.7 pct, bringing significant rise in receipts
EconomyMacroeconomy. This corresponds to an acceleration compared to the growth rate of 10.6 percent posted in the 5-month period.... This growth rate is almost double compared to the 6.7 percent recorded in the first five months..., 6 percentage points higher than the rate of arrivals. A similar pattern was also evident
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Greek travel receipts up 10.3 pct in August as 2014 targets revised upwards
EconomyMacroeconomya broadly similar growth rate. In contrast, arrivals from Russia fell by 21.4 percent for the first... by a similar growth rate (+11.6 percent) to 1.36 billion. As a result, the 8-month travel balance posted... the US (+24.8 percent) had the highest growth rate followed by France (+20.7 percent) and the UK
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Slight uptick in October for Greek PMI, which remains in contraction
EconomyMacroeconomyincreased for four successive months before stabilising in September. However, the rate of growth..., the rate of decrease in October was the slowest since April. The continued depletion of backlogs led... losses to five months. The rate of decline in employment was smaller and slower in October compared
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Greece moves closer to troika over fiscal gap, waits for response
EconomyProgrammeciting government sources indicate that the key measures relate to increasing the VAT rate on hotel...) said that doubling the VAT rate in its sector would initially increase VAT revenues by 300 million... increases in the VAT rate of 6.5 percent for other products such as books, cinemas and medicines
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Accommodation and food services index up 7.6 pct in Q3
EconomyMacroeconomyfor the first time since 2008. In the preceding three years, the rate of decrease reached 17.2 percent..., the recent government proposal to double the hotel VAT rate to 13 percent, aligning... that the hike in the VAT rate has a direct positive impact on VAT revenues by at least 350 million euros
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Greek tax revenues at 33.5 pct of GDP in 2013, slightly below OECD average
EconomyMacroeconomypercent in 2012 remaining above the OECD average of 19.5 percent. Greece’s standard VAT rate of 23...) among eurozone countries. The report acknowledges that the average standard VAT rate of the 21 OECD EU... if VAT was applied at the standard rate to the entire potential tax base in a “pure” VAT regime and all
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Manufacturing PMI up for third straight month but still falls short of growth
EconomyMacroeconomy, the rate of rise in staffing numbers was the fastest since October 2007. In contrast, backlogs of work decreased in December at the fastest rate since August, while a further marked decline was recorded... to the average rate over the past four years. However, the rate of fall in output prices was solid
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Greek trade deficit widens by 26.9 pct in December
EconomyMacroeconomyto 1.46 billion euros in November. The jump by 26.9 percent in December is the third highest rate... advanced for the third successive month. December’s rate was the fifth positive reading in 2014... month after the year high of 2.51 billion euros posted in October. The growth rate in imports
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Greek credit falls by 2.9 pct in Jan as lending balances reach 214 bln
EconomyMacroeconomythan the 3.1 percent recorded in December, according to the Bank of Greece (BoG). The January rate... to 311 million indicating the highest reading since July 2013. The rate of contraction in consumer... with the January figure at 328 million, the highest reading since June 2012. As a result, the rate of drop
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Greece prepares reforms list, eyes solution to liquidity shortage
EconomyProgrammethat the government is examining two scenarios: The first envisages a unified VAT rate of 15 percent with abolition of all existing exemptions. The second involves a VAT rate of 15 percent and a lower rate for food... rate of 6.5 percent for medicines, books, newspapers and magazines, tourism and theatre, while a 30
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