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Newsletter 163 -25/05/2018
Strategy, which foresees primary surpluses of 3.5 percent until 2022 and pension cuts worth 1... January 1. They will help about 500,000 families cover their rent or mortgage. It is expected... language. 2 Budget primary surplus at 2.29 bln in April Improved tax collections and lower PIB spending
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Building permits up by 4.4 pct in May and 5.3 pct in first five months
EconomyMacroeconomyBuilding permits rose by 4.4 percent in May following a rise of 1 percent in April, Hellenic... drop of 1 percent, improving against the drop of 2.4 percent in 2016. The latest confidence indicator for July released by the European Commission showed that the construction indicator rose by 2
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Athens eyes cancellation of pension cuts as Tsipras prepares Thessaloniki package
EconomyProgrammethe 1 percent of GDP in pension cuts due next year. Ahead of the first meeting of Alexis Tsipras’s new... on September 10. The main proposals for tax cuts are: 1. A reduction in the basic tax rate from 22 percent to 21 percent at a cost of 385-400 million euros; 2. A horizontal cut in the region of 30 percent
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PDMA releases details of 10-year bond, highlighting strong interest
Economyinitially for 2 billion, with a coupon of 3.875 percent, maturing on March 12, 2029. The final price... well during its first month of trading and since issuance the yield has dropped by nearly 1 percentage point, 80 basis points. The Greek authorities, following Moody’s upgrade by two notches on March 1
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Industrial production falls by 1.2 pct in May
EconomyMacroeconomyMarch’s drop of 0.2 percent. Month-on-month (MoM), the index declined by 2 percent after a revised... (+1.6 percent) and capital goods (+1 percent). A drop of 10 percent was noted in energy production..., industry confidence has improved by 1 point. Additionally, Markit’s manufacturing PMI came to 52.4
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ND sees first tax cuts as fair, hopes to build case for lower fiscal targets
PoliticsGreek Politics, pointing to the 10 percent reduction in ENFIA for properties worth more than 1 million euros. SYRIZA... of taxpayers own properties worth more than 1 million euros. Vesyropoulos gave examples of how much..., and then a trip to see Mark Rutte on September 2 or 3, according to reports. The Greek prime
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Athens hopes lower bond yields strengthen case for reducing fiscal targets
EconomyProgrammebelow 2 percent and the yield of just 0.15 percent for the rollover of 6 months T-bills, he argued... of the official sector debt from the eurozone are around 1 percent. This has allowed interest payments to average... of a risk-free rate below 1 percent and 380 basis points (bps) risk premium for Greece. Over time
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Dec CPI up by 0.8 pct yoy as 2019 rise comes in at 0.3 pct
EconomyMacroeconomyin December a year ago. The core index edged up by 0.7 percent in December, from 1 percent in November... of 3.5 percent in transport, followed by health (+1.9 percent) and communications (+1 percent). Food... by decreases in recreation (-2 percent), household equipment (-1.3 percent) and alcoholic drinks
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Overall loan interest remains at 4.34 pct in December
EconomyMacroeconomyexisting loans dropped by 2 bps to 3.98 percent. The spread between existing loan and deposit rates... in the previous month. Deposits The overall weighted average interest rate on new deposits dropped by 1... interest rate on deposits from households with an agreed maturity of up to one year decreased by 1 bps
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Greece heads back to markets with 7-year bond in bid to boost own funds
Economyfor a 7-year issue hoping to attract around 2 billion euros. The debt strategy for this year... Stability Mechanism up to 4 billion euros in health-related expenditure and just above 1 billion euros... benchmark jumping from under 1 pct to 4 pct, before easing off after the ECB announced that Greece would
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