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Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
EconomyMacroeconomythe anticipated import rise of 3.3 percent. The unemployment rate is projected to slip by more than 1 percentage... rate of 5.9 percent to 26.27 billion in 2017. Primary expenditure is projected to drop 2.7 percent... the rate of arrears clearance will improve and the stock will be significantly reduced by 2017. It is worth
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Pieces of review puzzle yet to fall into place ahead of Eurogroup
EconomyProgrammeprofile, reducing interest rate risk and waiver of the step-up interest rate margin for 2017 related... exchanging the floating-rate EFSF bonds held by Greek bank with fixed-rate notes, using interest swaps
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Greece heads to Eurogroup facing uncertain outcome
EconomyProgrammestatement, these will include smoothening of the EFSF repayment profile, reducing interest rate risk and waiver of the step-up interest rate margin for 2017 related to the debt buy-back of the second... exchanging the floating-rate EFSF bonds held by Greek bank with fixed-rate notes, using interest
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Eurogroup grants short-term debt relief but leaves Athens fretting over fiscal targets and IMF
EconomyProgramme; the waiver of the step-up interest rate margin amounting to 200 bps related to the debt buy-back... as markets allow to reduce interest rate risk without incurring any additional costs for former programme... be spread out, floating rate notes used for bank recapitalisation would be exchanged for fixed rate
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Shaping the post-programme narrative in Greece
Agoraon reducing the interest rate risk for Greece. This is addressed via bond exchanges, interest rate swaps and matched funding. The proposed bond exchanges and interest rate swaps imply additional costs... measure is a waiver for 2017 of a two percent step-up interest rate margin of a loan portion linked
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Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
EconomyMacroeconomy, the recent rise in the VAT rate is having a negative effect on VAT revenues and the BoG suggests... down by 0.5, 2.5 and 0.8 percent respectively. In addition, the VAT rate remained stable until June 2016, while the effective rate is estimated to have increased by 1 percentage point due
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Why can't Greece be more like Cyprus?
Agorarate in Greece is expected to hardly move, remaining at the shockingly high level of 24.7 percent... taxes more costly by increasing the corporate income tax rate,” says the World Bank report... tax rate is 12.5 percent. Corporation tax in Greece has been increased from 26 to 29 percent, while
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IMF far more pessimistic than eurozone on Greek debt, urges significant relief
EconomyProgrammebuffer rebuilding. Moreover, the IMF assumes that Greece will be financed from markets at an initial rate of 6 percent, which is consistent with a risk-free rate of 1-1.5 percent plus a risk premium of 450-500 basis points (bps). Going forward, the fund estimates that the rate will increase or decrease
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Greece and creditors dive into details of measures and counter-measures
EconomyProgramme. The government aims to introduce a lower tax rate for the personal incomes below the current tax-free...-measures, which include a reduction in the single property tax (ENFIA), in the low tax rate for personal incomes and in contributions as well as lowering the VAT rate for certain products and services
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Newsletter 111 - 17/03/2017
unemployment rate in 2016 dropped to 23.5 percent in 2016, from 24.9 percent in 2015, its lowest level since 2011. The non-seasonally-unemployment rate increased to 23.6 percent in the fourth quarter... rate dropped to 23.5 percent in 2016, from 24.9 percent in 2015, its lowest level since 2011 when
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