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Newsletter 34 - 10/07/2015
. The document indicated that VAT reform will target net revenue gains of 1 percent of GDP... percent of GDP in 2015 and 1 percent in 2016. There are a number of tax increases, including... cards. Their only option was to visit one of the 1,000 bank branches that opened as of July 1 to serve
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Unpaid taxes edge up by 656 mln in June for slowest monthly rise in 2015
EconomyMacroeconomymonthly rise of almost 1 billion euros in the first six months of the year, corresponding to a 14.4... billion euros, stemming from revenue collection of around 1 billion and write-offs of 293 million. The collection of 1 billion euros also incorporates the impact from the new legislation on settlement
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No time for Tsipras to celebrate as long list of tasks means pressure is on from start
EconomyProgrammeof farmers. Other key deliverables for October include: 1) Reform of the income tax code (ITC) also... include legislation for: 1) Equivalent measures to fully compensate for the court ruling ordering... by October: 1) Apply and collect outstanding claw backs until the first half of 2015 for pharmaceuticals
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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammeto generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super... will be abolished starting from October 1 for islands with higher incomes, which are also the most popular destinations, and is due to be extended to the other islands as of Jun 1, 2016. Other measures
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Greek 2016 draft budget contains 6.4 bln in new fiscal measures, sees recession ahead
EconomyMacroeconomyon investments, consumption and domestic tourism. Despite GDP growth of 1 percent in the first half of the year..., investments are anticipated to rebound by 4.5 percent, exports to decrease at a slower pace by 1 percent... relate to: Expenditure and cost savings (2.39 billion – 37.5 percent of total) 1) Increase in health care
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economyincome by 1 percent QoQ to 597 million. After a drop in Q1, expenses headed north in Q2 increasing by 1...) to 275 million. Gross loans slipped by around 1 percent QoQ to 70 billion in Q2, whilst deposits... that due to the improved liquidity conditions in Q3, Eurosystem funding slipped by around 1 billion
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Greek banks' capital actions underway, state aid seen as low as 4.7 bln
Economy(1:50) since its current market price of 0.064 euros per share is way below the minimum price of 0.30... split (1:100). NBG NBG initially announced it would seek to raise 1.6 billion from the non-preemptive... today is also due to approve a reverse split (1:15). Piraeus Following the LME outcome of around 600
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Newsletter 52 - 20/11/2015
percent of GDP in 2015 and around 1 percent in 2016. In mid-July, the government legislated... percentage points. Other reports indicated higher SSC increases of 1–1.5 percentage points for employers and 0.5–1 percent point for employees. These measures may be part of the first programme review
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Greece gets tranche and looks ahead to next tasks, including pensions and NPLs
EconomyProgrammeof 1 billion. Eurogroup President Jeroen Dijsselbloem said that the pension reform has been moved... percent of GDP in 2015 and around 1 percent in 2016. Almost half of cost savings for 2016 have been...) for employers by up to 1 percentage point. At the same time an overhaul of the pension system has
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Where things stand on the Greek pension reform proposals
EconomyProgrammechanges that were included in the proposed pension system overhaul included: 1) Consolidation... for a 3-year period by a total of 1.5 percentage points (pp), 1 pp for employers and 0.5 pp for employees... 600 million euros required for achieving the agreed pension cost savings of 1 percent of GDP (1.8
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