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  1. Primary surplus inches up to 2.9 pct in Greece's 2015 draft budget
    Photo by MacroPolis

    Economy

    primary expenditure is seen lower by 600 million YoY. The general government budget balance is seen... with the applied rates reduced by 30 percent b) Maintaining VAT on food services and accommodation at the lower... or lower estimates in the final budget due to be voted in December.

    4%

  2. Fiscal consolidation leads Greek 9-month primary cash balance to 2.76 bln

    EconomyMacroeconomy

    with the 9-month budget figure of 33.87 billion euros indicates that the BoG cash revenue item is lower... budget figure of 35.91 billion euros, BoG underlying item is lower by 230 million. Interest payments... lower than the 2.53 billion posted in the preliminary budget execution bulletin published by the MoF

    4%

  3. August sees third Greek C/A surplus in a row, reaching 1.82 bln
    Photo by MacroPolis

    EconomyMacroeconomy

    respectively. According to the BoG, the narrowing of the trade deficit reflects a lower net import... in the income account deficit by 20.6 percent results from lower net interest payments. In addition, the contraction of current transfers’ surplus by 26.2 percent is owed to lower general government

    4%

  4. Greek deposit and loan rates slide in September

    EconomyMacroeconomy

    deposit rate led the average rate on new deposits slightly lower by 2 bps to 1.32 percent in September.... The combined impact of lower deposit and loan rates led the average spread down for the first time... rates was up to 10 bps in September. The average spread posted a slightly lower drop compared

    4%

  5. Alpha Bank nine-month profits at 110.3 mln, NPL ratio at 33.6 pct
    Photo by MacroPolis

    EconomyBanking

    percent QoQ to 491 million euros, reflects higher deposit NII and lower funding cost more than offsetting lower loan NII stemming from the continued deleveraging. Improving time deposit spread coupled with lower Eurosystem funding cost has resulted in an annualised benefit of 400 million from

    4%

  6. Primary surplus narrows to 2.4 bln in October as revenues miss target

    Economy

    remains 356 million better than target. The overperformance is mainly attributed to lower primary... shortfall as well as lower Public Investment Budget (PIB) balance (by 708 million). The comparison with last year’s figures shows that the primary and budget surplus are lower by 7.1 and 8.8 percent

    4%

  7. Target revisions leave 880 mln budget shortfall in Oct despite 2.6 bln primary surplus
    Photo by MacroPolis

    Economy

    in the 10-month period stems from both lower Public Investment Budget balance (by 587 million) and revenues (by 579 million) partially offset by lower expenditure (by 372 million). Revenues As already indicated... percent) mitigated by a rise in property taxes (up 17.3 percent). Lower income tax is most likely

    4%

  8. Greek loan rates remained well above euro area average in October

    EconomyMacroeconomy

    . In the corporate sector for loans linked to lower amounts, interest rates recorded a slight drop by 5 bps to 6.01 percent for amounts lower than 250,000 euros and by 8 bps to 5.30 percent for amounts between 250,000... percent in October, similar to the levels posted in July. The combination of lower deposit and higher

    4%

  9. Greek current account balance turns negative in October after four month of surpluses
    Photo by MacroPolis

    EconomyMacroeconomy

    by higher trade deficit (up by 908 million) and lower current transfers’ surplus (by 726 million... to 2.28 billion results from lower net interest payments. Furthermore, the decline in the current transfers’ surplus by 20 percent to 2.91 billion mainly derives from lower general government transfer

    4%

  10. Greek time deposit rate down to 1.88 pct in November, lowest since euro entry

    EconomyMacroeconomy

    higher than the average euro area rate. In the corporate sector for loans related to lower amounts, interest rates remained either stable (for amounts lower than 250,000 euros at 6.01 percent... bps recorded in October. Lower deposit and higher loan rates resulted in a decline of the average

    4%