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  1. State budget primary surplus widens to 2.28 bln at end of July after rise in revenues

    EconomyMacroeconomy

    surplus is lower by 10.7 percent, while the budget deficit has narrowed by 10.1 percent. However... outperformed targets by 1.48 and 1.63 billion respectively. The over-performance reflects lower... in the 7-month period to 4.02 billion euros, which is 144 million lower than target. Following a stronger

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  2. Increased revenues push Greek budget primary surplus up to 2.28 bln at end of July

    EconomyMacroeconomy

    in the corresponding period last year, the primary surplus is lower by 10.8 percent, while the budget deficit... reflects lower expenditure (by 1.22 billion) and higher revenues (by 713 million). The breakdown... than offsetting lower property taxes (by 246 million) and other income tax (by 178 million

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  3. Alpha Bank reports H1 profits of 267.4 mln on one-off item
    Photo by MacroPolis

    EconomyBanking

    . The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset lower loan and bond NII. The key factors affecting NII are continued deleveraging, improvement... for the fourth straight quarter to 58 percent in Q2 from 56 percent in Q1. In addition, lower loan loss

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  4. Piraeus Bank reports net profit of 164.3 mln in Q2
    Photo by MacroPolis

    EconomyBanking

    an improvement of net interest income (NII) by 4.4 percent QoQ to 500.3 million. NII was bolstered by lower... figures indicated that around 30 percent of restructured loans may become NPLs. Despite lower provisions... and Eurobank at 103 percent and lower than Alpha’s at 119 percent. Eurosystem funding remained flat QoQ at 10

    5%

  5. GSEE report stresses risks on employment and the pension system, outlines burden on wages

    Society

    in Greece reached 21,930 euros, lower than that in Slovenia (24,472) and Cyprus (22,740... wages correspond to two thirds of the average of the 15 most advanced EU countries, stand lower than... towards higher GDP and lower unemployment levels without a current account deficit under two key

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  6. S&P upgrades Greece one notch to B, sees growth in 2015

    Economy

    ’ on August 2 and of Fitch by one notch to ‘B’ on May 23. Moody’s rating stands two notches lower than... 20 percent lower than in 2007. The rating agency highlights that a drop in the unit labor cost... envisioned by the troika. The rating agency stresses that its lower projection is politically more feasible

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  7. Value of HFSF participation in Greek banks falls to 17 billion
    Photo by MacroPolis

    EconomyBanking

    , the second warrant exercise in July resulted in a slightly lower share to 66.9 percent. The second.... For Piraeus, the figures are significantly lower at just 0.7 percent and 44 million respectively, while NBG’s figures stand at much lower levels. Based on the assumption that warrants are fully exercised

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  8. Primary surplus inches up to 2.9 pct in Greece's 2015 draft budget
    Photo by MacroPolis

    Economy

    primary expenditure is seen lower by 600 million YoY. The general government budget balance is seen... with the applied rates reduced by 30 percent b) Maintaining VAT on food services and accommodation at the lower... or lower estimates in the final budget due to be voted in December.

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  9. Fiscal consolidation leads Greek 9-month primary cash balance to 2.76 bln

    EconomyMacroeconomy

    with the 9-month budget figure of 33.87 billion euros indicates that the BoG cash revenue item is lower... budget figure of 35.91 billion euros, BoG underlying item is lower by 230 million. Interest payments... lower than the 2.53 billion posted in the preliminary budget execution bulletin published by the MoF

    5%

  10. August sees third Greek C/A surplus in a row, reaching 1.82 bln
    Photo by MacroPolis

    EconomyMacroeconomy

    respectively. According to the BoG, the narrowing of the trade deficit reflects a lower net import... in the income account deficit by 20.6 percent results from lower net interest payments. In addition, the contraction of current transfers’ surplus by 26.2 percent is owed to lower general government

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