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Lending to corporations drives strong credit expansion of 10.2 pct YoY in Jun
EconomyMacroeconomyThe credit expansion in the Greek private sector remained solid in June, rising by 10.2 percent..., after an inflow of 471 million euros in May. Within corporate lending, the flow of credit to non-financial corporations was up by 2.02 billion euros. The balance stood at 78.36 billion euros. Credit
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Athens grapples with awkward reduction of tax-free threshold
EconomyProgramme. As a result, the tax credit was cut by up to 200 euros and ranged between 1,900 euros (for a single) up... October revealed that by lowering the tax credit from 1,900 to 1,600 euros (entailing a tax-free threshold... in the tax credit results in incremental revenues of 200 million euros. The World Bank noted
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Newsletter 429 - 28/06/2024
and oversight in the Greek market, lowering the VAT rate on certain goods would not have the desired outcome as it would lead to higher profits and not reach prices, essentially also harming the VAT intakes..., retail was stable and construction sentiment had a solid rise. Credit May data added another strong
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Greece moves closer to troika over fiscal gap, waits for response
EconomyProgrammeciting government sources indicate that the key measures relate to increasing the VAT rate on hotel...) said that doubling the VAT rate in its sector would initially increase VAT revenues by 300 million... that the resulting higher cost for hotel services from the rise of VAT to 13 percent would lead to 2.6 million
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Newsletter 160 -04/05/2018
billion. Credit contraction at 1 pct in March Monthly movement brings outstanding balance to 180.34 billion Credit contraction in the Greek market came to 1 percent in March compared to a contraction... balance softened to 127.3 million. Credit to non-financial corporations also turned positive by 224.5
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Credit contraction marginally decelerated to 3.9 pct in August
EconomyMacroeconomyCredit contraction in the Greek market marginally decelerated to 3.9 percent year on year (yoy... million in August from 351 million in July. Consumer credit also slipped 4.8 percent yoy to 29.2..., the monthly net flow for consumer credit remained subdued with outflows at 48 million in August from
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No signs of credit revival in Sept., balances at 221 bln
EconomyMacroeconomyCredit contraction in the Greek market remained unchanged from the previous month at 3.9 percent... in September from 214 million in August. Consumer credit also slipped 4.8 percent to 29.0 billion... for negative credit expansion, on continued outflows in the household lending sector and persisting
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Deposits up again in December but credit contraction continues apace
EconomyMacroeconomyfunding purposes). Credit contraction At the same time, the year on year (yoy) credit contraction... with monthly net deductions at 147 million. Consumer credit also slipped 3.9 percent to 28.38 billion... percent) with net additions of 76 million in December. An important issue closely related to credit
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Credit contracts by 3.5 pct in June, balances at 214.81 bln
EconomyMacroeconomyCredit in the Greek market contracted by 3.5 percent in June, unchanged from the previous month... credit landed at 27.74 billion down 2.7 percent with marginal net deductions of just 3 million in June... in June from 84 million in May, still remaining at relatively low levels. Credit expansion, which turned
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Greek credit contracts by another 3.5 pct in Sept as balances ease to 212 bln
EconomyMacroeconomyThe rate of Greek credit contraction remained at 3.5 percent in September, unchanged from... net deductions remained almost flat MoM at 213 million. Consumer credit contraction decelerated... since June with net additions at 61 nillion. Credit expansion in the Greek market has been negative
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