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Revised data shows economy shrank by higher rate of 21.4 pct from 2010 to 2014
Economyin inventories, increased by 2.88 billion 3) Lower exports and imports by 986 and 695 million...), which corresponds to lower investments of more than 19 billion for the 5-year period. At the same time, the cumulative rise in exports (16.2 percent) was lower than the 18.1 percent released in March
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Budget execution slips in Sept as 3.08 bln primary surplus turns to underperformance
EconomyMacroeconomywas partly offset by lower expenditure (by 3.1 billion) and a better than expected PIB balance (by 929... presented in the 2016 draft budget, which foresee lower revenues by 1.82 billion compared to the initial.... As a result, net revenues, show a lower shortfall of 4.6 billion compared to the 4.9 billion posted
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Bailout review resumes in Athens but substantial gap remains
PoliticsGreek Politicsfederations. 2) Do not agree with the recent proposal from the government for lower contributions for farmers and the self-employed and insiste that lower contributions have to result in lower benefits. 3... with income criteria. 4) Insist on lower pension replacement rates, particularly for those with less than
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Government in race against time to resolve bailout issues
EconomyProgrammedebtors, equivalent measures for not imposing a VAT rate of 23 percent on private education and lower.... On foreclosures, media reports indicate that the new government proposal involves a lower objective... in KINO, assuming that players’ spending is kept unchanged. This in turn would lead to lower Gross
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Notable increase in grants to social security sector leads to budget primary deficit in Nov
Economy, the 11-month budget primary surplus over-performed by 1.69 billion euros largely due to lower primary... billion lower than target. Expenditure As already evident in the preliminary figures, primary... lower military procurement of 162 million in the 11-month period, 400 million below target of 562
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Primary surplus beat target in 2015 on higher revenues and restrained spending
Economymarked by lower than expected primary expenditure by 626 million as well as higher than targeted Public... billion, 448 million lower than target. As a result, net revenues remained almost unchanged (-0.1... lower operational and other expenditure (by 324 million), contingency reserve (126 million) and grants
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Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
EconomyBankingpercent in Q4 from 40.5 percent in Q3 for the first time since 2007. It is worth noting that lower NPL ratios were reported across all lending segments. Higher loan provisions coupled with lower NPL... billion in Q4, lower reliance on Eurosystem funding also reflects replacement with interbank repos
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Budget primary surplus surges to 3.04 billion, extending outperformance
EconomyMacroeconomy, the primary surplus extended the year to date outperformance to 1.98 billion attributed to lower... for heating needs. In addition, 2-month primary expenses were 913 million lower than target, almost equally... target. As a result, total expenditure increased by 2.5 percent to 7.94 billion, 961 million lower than
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Athens and creditors edge closer on tax and pensions but gap remains on NPLs
EconomyProgramme. A potential agreement would also involve a proportionally lower amount being granted to those with 15-20 working years. 2) Institutions demand a lower pension replacement rate of 0.7 percent for the first 15... contributions for supplementary pensions, but at a lower rate of up to 1 percentage point (pp) vis
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Some progress made as Greek programme review heads for break
EconomyProgrammeafter 20 working years. For 15-20 years, the national pension would be proportionally lower... years and lower for those with less than 25 years. In addition, the government proposal... lower increase would entail pension cuts up to 600 million euros. The government has indicated it does
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