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Newsletter 70 - 15/04/2016
document estimates net savings of 2.5 percent of GDP are required to achieve a much lower primary surplus... red line, with the institutions demanding a lower level of €8,182. Minister Giorgos Katrougalos..., which have demanded a lower threshold of 8,182 euros as a means to widen the salary-earners’ tax
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Newsletter 71 - 22/04/2016
-earners and pensioners with incomes up to 20,000 euros, lower taxes for those with incomes between... bill incorporates lower pension replacement rates by up to 3.9 percentage points compared..., an improving performance in the secondary income balance (by 158 million) and a lower goods deficit (by 138
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Underspend and improving revenues lead to budget primary surplus of 2.67 bln in Q1
EconomyMacroeconomyto an underspend. Primary expenditure was 1.34 billion lower than the target. Also, revenues over-performed (by 363 million). These two factors more than made up for the lower-than-expected PIB balance... the target. On top of primary expenditure, the underspend also reflects lower military procurement
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Negotiations between Greece and lenders: state of play ahead of Eurogroup meeting
EconomyProgrammewith the government proposing an amount of 9,090 euros, while the IMF is insisting on a much lower figure of 8,182 euros. It is not clear at the moment whether a lower tax-free threshold would entail a change... to lower the 2018 primary surplus target from 3.5 to 1.5 percent of GDP as the initial target “would
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Newsletter 72 - 06/05/2016
security contribution increases, lower replacement rates and cuts to supplementary pensions... the IMF – are sticking to a lower figure of 8,182 euros with the aim to widen the tax base, since Greece... proposal reportedly calling for a lower amount linked to the taxpayer’s family status in an effort
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Piraeus reports net loss of 37 mln in Q1, records negative NPL formation for first time since 2008
EconomyBankingto 478 million largely on reduced funding cost attributed to lower reliance on the Emergency Liquidity Assistance (ELA) funding and government guarantees as well as lower deposit cost. In contrast, fee.... The management reiterated its previously stated target for return in profitability in 2016 on the back of lower
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Final budget primary surplus reached 2.72 bln at end-April after upward revision of PIB revenues
EconomyMacroeconomybillion) also supported by revenue outperformance (by 378 million), which more than offset a lower than... indirect taxes increased by 5.2 percent to 7.74 billion, 160 million lower than target. Income... in April to 3.12 billion euros, which was 472 million lower than target. However, the 4-month figure
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Five-month budget primary surplus of 2.27 bln, revenues outperform in May
EconomyMacroeconomypercent in April, to 3.17 billion euros, 240 million lower than target. For the 4-month period, primary... lower than target, also incorporating a remarkable containment in military procurement at just 31... billion, 371 million lower than target. Overall, the 5-month PIB balance posted a surplus of 831 million
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In updated DSA, EC sees Greek debt as unsustainable if no relief measures implemented
EconomyProgrammefiscal outcome in 2015 and lower bank capital needs. As a result, Greece’s debt to GDP ratio landed at 176.9 percent in 2015, almost 20 percentage points (pp) lower than the 196.3 percent projected...: Scenario (B) assumes lower GDP growth by 0.25 pp per annum between 2019-2030, primary surplus to start
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Crisis management policy: the sad lesson of the Greek case
Agorathereof. However, there is no reason to believe that the 6–7 percent could be reduced to lower than 4... by 25 percent since the outbreak of the crisis, and are now relatively lower compared to other euro... public revenue through higher direct and indirect taxes and through lower spending on unemployment
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