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IMF forecasts high primary surpluses, tempers growth expectations
EconomyMacroeconomy. In the World Economic Outlook (WEO), real GDP growth is seen at 2.5 pct this year, slowing down to 2 pct... pct in 2023. On the fiscal front, the primary balance is expected to double next year to 2 pct of GDP, from 1 pct in 2023 and remain above 2 pct for the whole forecast horizon up to 2028 at 2.2 pct
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GDP unchanged on quarterly basis in Q3, up by 2.1 pct YoY
EconomyMacroeconomy. Exports decreased by 0.7 percent and imports increased by 2 percent. The export drop was led... and 2 percent in 2024. The OECD in the economic outlook last week places Greek growth at 2.4 percent this year, slowing to 2 percent in 2024.
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GDP up by 1.1 pct QoQ, needs 2.8 pct growth in H2 to reach annual forecast
EconomyMacroeconomyyear-on-year, while imports were up by 9.6 percent. Goods exports increased by 2 percent YoY, while... latest WEO released in April, the IMF sees growth of 2 percent in 2024. In its latest economic outlook in May, the OECD places Greek growth at 2 percent for this year.
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Greek central gov't debt rises to recent high of 181.1 pct at end of Q4 2014
EconomyMacroeconomystanding at 217.92 billion making up more than two-thirds (67.2 percent) of total debt. Note that total disbursements from the EU/IMF reached 226.5 billion at the end of 2014, of which 194.7 billion... to 217.9 billion. Bonds are the second key component of debt with a total amount of 66.42 billion
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General gov't primary surplus shrinks to 419 mln in January
EconomyMacroeconomymillion) with the outstanding amount at 708 million making up 19 percent of total arrears. Social... remaining by far the largest contributor (48 percent) to total arrears. Tax refunds fell MoM by 107... of total). The other subsectors showed slower changes with state budget arrears down 22 million MoM to 135
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General gov't primary surplus halves in Q1, arrears and guarantees jump
EconomyMacroeconomyand reached 2.01 billion in March making up 45 of total arrears. Hospital arrears are following suit at 903 million, the highest reading since October, corresponding to 20 percent of total. Tax refund arrears amounted to 688 million (15 percent of total), while the arrears of other three gg bodies
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General gov't cash primary surplus to May halves, arrears keep rising
EconomyMacroeconomyin May make up 44.3 percent of total. Since last December they jumped by 416 million or which 74... percent of total arrears. Despite a rise by 42 million in May, tax arrears have slightly dropped by 21 million year to date to 734 million making up 14.6 percent of total arrears. State budget arrears
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General gov't primary cash surplus shrinks in first half of 2015 as state arrears grow
EconomyMacroeconomyand 573 million YtD to 2.34 billion in June. This corresponds to around 44 percent of total arrears... to 1.11 billion making up around 21 percent of total. State budget arrears reached 601 million in the first half, accosting for more than 11 percent of total, while their YtD increase was the third
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Hotel guest numbers up 8.7 percent in 2014
Economythat in 2014 a total of 17.7 million people booked into hotels and campsites, compared to 16.3 million in the previous year. These 17.7 million guests stayed a total of 75.4 million nights, which... arrivals slipped from 34.7 to 31.9 percent, while their proportion of the total nights spent also
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Greek tourism's long-term growth prospects are good, report shows
EconomyMacroeconomypercent of GDP. The report shows that the total contribution of travel and tourism to GDP, including... was ranked 26th in terms of direct tourism revenues and 29th in terms of total contribution worldwide..., with Greece ranking 102nd and 110th for the direct and total contribution respectively. The money spent
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