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  1. Budget primary surplus of 4.54 bln in 9-month below target despite underspend
    Photo by MacroPolis

    EconomyMacroeconomy

    -to-date target by 655 million euros, driven by lower than expected revenues in several categories.... The MoF said that the lower-than-expected expenditure stemmed mainly from reductions in earmarked revenues by 334 million, grants to hospitals by 161 million, lower social security spending by 139

    4%

  2. Eurosystem funding falls by 4.46 bln in November, banknotes in circulation decline
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    has fallen by 62.83 billion euros, with around two-thirds of this decrease driven by lower ELA... (66.92 billion) comes from a lower reliance on ELA funding. The significant decline in central bank... securities along with the lower haircut applied on ELA collateral, participation of Greek banks’ EFSF

    4%

  3. Eurobank net profits decline by 22.5 pct in 2017, NPE reduction beats target
    Image via www.eurobank.gr

    EconomyBanking

    million, beating the expectations of industry analysts. This was mainly due to lower Eurosystem funding and Pillar II utilisation, which offset lower income from loans. On an annual basis, net interest... and mutual funds. The year-on-year rise was 14.5 percent (267.5 million), driven by lower government

    4%

  4. Revision confirms second year of total fiscal surplus at 0.8 pct of GDP
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    general government debt is estimated at 317.4 billion euros, or 176.1 percent of GDP, which is lower... lower from the 49.5 percent of GDP that was recorded in 2016. The figure of general government debt is lower as a percentage of the economy but at 317.4 billion is nominally higher than the 315 billion

    4%

  5. OECD lowers growth forecast, warns Athens to maintain fiscal credibility
    Photo by MacroPolis

    EconomyMacroeconomy

    is seen at 2.1 percent, slightly lower than the 2.2 percent expected in November last year. Growth... to lower external demand and increased competition from other tourist destinations. The pick-up..., the revenues from VAT reduction will be lower and spending on pensions will increase this year. Added

    4%

  6. Alpha Bank posts net profits of 27.5 mln in Q1, ELA eliminated
    Photo by MacroPolis

    EconomyBanking

    million, affected largely by lower net interest and fee income contributions. The difference year... NII fell by 9 percent QoQ to 388.4 million in Q1, stemming from the lower contribution from loans..., on the back of lower average loan balances following NPL portfolio disposals in December 2018 valued

    4%

  7. The main economic challenges that will define the Mitsotakis reign

    Agora

    of tax cuts, mostly focused on the corporate sector and lower incomes, to boost investment spending... gaps in the range of billions, especially as he proposed to reduce the lower tax band while leaving... parliament would be willing to discuss lower fiscal goals for Greece to finance tax cuts at this stage

    4%

  8. Alpha Bank posts net profits of 59.4 mln in Q2, NPE sales worth 3.7 bln planned for remainder of year

    EconomyBanking

    by lower re-defaults, higher cash collections and increasing liquidations, as well as write offs... of 36 percent. P&L NII was stable QoQ at 388.6 million in Q2, stemming from the lower contribution as the NII decrease from loans was fully counterbalanced by the benefit from lower deposit

    4%

  9. Newsletter 226 -01/11/2019

    Newsletters

    in building its case for lower primary surplus targets in the coming years. Although Prime Minister... the creditors to lower it after that. This was one of the key election pledges he made.... Now S&P and Fitch are on a par, while Moody’s has Greece one grade lower. This means Greece is three

    4%

  10. Budget primary surplus at 823 mln in February
    Photo by MacroPolis

    EconomyMacroeconomy

    . For the same month last year, the primary surplus was much lower at 93 million euros. The budget balance... the target by 249 million euros. On an aggregate basis, gross revenues came to 8.27 billion euros, lower... to 7.55 billion euros in the aggregate period, under the target by 476 million euros, and lower by 3.6

    4%