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GDP revision for 2017 points to slight improvement from initial estimates
EconomyMacroeconomyfor 2015-2017 and balance of payments and employment data for the year 2017. According to the revised... than the 9.6 percent growth seen in March. Exports growth, also in volume terms, remained the same... percent, slower than the initial nominal growth estimate of 9.9 percent. Exports increased by 12.1 percent
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BoG awaits go-ahead from DG Comp over NPL scheme
EconomyBankinghave a 3 percent impact on the banks’ CET1 ratios, but this should balance within three years based... sooner than BoG’s plan. DG Comp in Brussels has been examining the HFSF plan because the bid... to more than 9 percent of the principal portfolio amount and is capital accretive to NBG (based on Q1
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Newsletter 219 -13/09/2019
not been previously announced, some of which will apply in the coming years rather than being included... 8,500 euros, and the income tax rate for those earning less than 10,000 euros come down from 22 to 9... to the European Commission in the next few days. The main challenge faced by officials is to balance
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Greek banks eye positive market appetite for bad loan sales
EconomyBankingstrategies, resulting in an NPL and NPE ratio of less than 5 percent and 10 percent respectively in the bank... Eurobank SA as part of the bank’s plans to consolidate its balance sheet. The current legal entity... Bank of Greece also said in January that it plans to leverage the Hercules mechanism for more than
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Gathering signs of coronavirus impact on growth expectations
Economyby 2.54 percent this year under the baseline scenario, lower than the government’s projection of 2.8... by 2.2 percent this year against a baseline of 2.5 percent, which as mentioned is already lower than... to 1.9 percent in 2020, almost a full percentage point lower than the government’s estimate. This could
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Pandemic's growing economic impact warrants extra support measures, funded by cash buffer
PoliticsGreek Politicsbe funded from the existing reserves, rather than new borrowing. This appears to back up media reports... 200 pct of GDP, which is a tougher challenge than it may sound initially due to the rate at which national output, the denominator in the debt ratio, is shrinking. Staikouras has to balance this effort
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PM dismisses possibility of snap elections, sets out vaccine flow
PoliticsGreek Politicsto be productive and efficient, and to hold this up as its standard, rather than its political beliefs... calling elections sooner rather than later (especially as it would make it easier to overcome... is likely to recommend that the lockdown in place over recent days to counter-balance a laxer
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Mitsotakis targets inflation on path to elections in 2023
PoliticsGreek Politicsthat the second instalment of the minimum wage increase will be implemented on May 1, which is earlier than... popularity than the pandemic. The 2 pct increase at the beginning of the year took the gross monthly... to balance lightening the load for as many homeowners as possible, while ensuring
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Newsletter 332 - 18/03/2022
SYRIZA accused Mitsotakis of being too concerned with managing public perceptions rather than... that since the start of the pandemic in Greece more than 16,500 people have died after contracting... the need to restore fiscal balance and as such any thoughts of expansionary fiscal measures should
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Newsletter 346 - 15/07/2022
of the year, as well as increasing pensions in 2023, by up to 5 pct, for the first time in more than... to weigh these handouts against maintaining a fiscal balance that will remain convincing not only to Greece... a housing scheme for young people costing them no more than 400 euros per month. He also said his
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