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  1. ECB reinstates waiver in first step towards improving liquidity conditions for Greek banks
    Photo by ECB via Flickr https://flic.kr/p/qqjzQG

    EconomyBanking

    for Emergency Liquidity Assistance (ELA) funding may be switched to ECB funding. This entails lower... gain access to cheaper liquidity of 5-6 billion euros. This would lead to lower interest expenses..., this would result in lower interest expenses of 130 million euros on an annual basis. The ECB also said

    5%

  2. Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
    Photo via Flickr https://flic.kr/p/nphVW

    EconomyMacroeconomy

    lower than target. The 5-month figure eased 1.1 percent to 15.49 billion, which was 2.06 billion..., corresponding to 29 percent of the annual target of 1.3 billion) It is worth highlighting that the lower-than... lower than target, also incorporating a notable cut in military procurement to 31 million compared

    5%

  3. Current account surplus almost doubles to 1 bln in June
    Photo by Håkan Dahlström via Flickr https://flic.kr/p/5MQQVH

    EconomyMacroeconomy

    prices rose by 4.3 percent. The deterioration in the services balance mostly stems from lower net... improved over the 6-month period mainly due to lower oil prices. Moreover, net payments for purchases... reflects lower net transport receipt mostly attributed to capital controls. In addition, travel

    5%

  4. Newsletter 86 - 26/08/2016

    Newsletters

    was 875,259 – equally affecting men and women – and only marginally lower from the 2014 high of 936,832... on incomes. In 2009 that figure was much lower at 539,000. These labour-market developments have pushed... changed as lower disposable income required the reallocation of financial resources in types of spending

    5%

  5. Budget primary surplus reaches 3.6 bln in 7-month, monthly revenues miss target in July

    EconomyMacroeconomy

    billion mainly reflecting strong underspend as primary expenditure came in 2 billion lower than target... figure also increased by 4.1 percent to 22.32 billion, still remaining 2 billion lower than target... lower than target. Overall, PIB balance recorded a surplus of 342 million in the 7-month period, down

    5%

  6. Newsletter 88 - 16/09/2016

    Newsletters

    The single property tax (ENFIA) due in 2016 stands at 3.18 billion, 2.2 percent lower than last year’s... burden is lower, equal or up to 10 euros higher than that in 2015. However, almost 57 percent... billion. Three-quarters of this decline stems from lower dependence on ELA and the remaining quarter

    5%

  7. After Article IV consultations IMF says challenges remain, substantial debt relief is needed
    Photo via Flickr https://flic.kr/p/7BWNey

    EconomyProgramme

    of policies is required over the medium term meaning lower pensions on one hand and more fair distribution... to the eurozone average which stands way lower at 8 percent. IMF says that a reduction in tax as well as social contribution rates coupled with lower tax credit and elimination of tax exemptions that benefit

    5%

  8. Tight schedule to approve multi-bill, tick off remaining milestones

    EconomyProgramme

    . The milestone called for the scrapping of the lower minimum contribution base for owners of tourism accommodation, repealing all exemptions that allowed for lower health contributions and downward revision... of lower rates until the end of 2018. Moreover, the discount of 15 percent on the total amount

    5%

  9. IMF upgrades Greece’s GDP and unemployment rate estimates
    Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]

    EconomyMacroeconomy

    percent in 2017, while OECD has a lower growth estimate of 1.9 percent for next year. The report also... on Greece’s unemployment rate which is now seen lower by 1.7 percentage points to 23.3 percent... percent in the previous WEO. It is highlighted that IMF jobless forecasts stand at lower levels

    5%

  10. Revenues spring surprise by beating Sep target, providing 1.4 bln cushion for Q4

    EconomyMacroeconomy

    to September. Meanwhile, tax refunds were 31 million lower than the September target, but the 9-month... would consequently lead to lower (than targeted) revenues in the next months. According to GSPR... lower than last year, while the respective revenue target was kept stable at 2.65 billion, implying

    5%