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Pension and income tax reform bill sets out 4.4 bln in new measures
EconomyProgrammeof the proposed measures. The government aims to collect additional annual revenues of 1.7 billion euros (1... and around 640 million to incremental revenues. Cost savings 1) Elimination of the solidarity grant... Additional revenues 1) Rise in contributions for supplementary pensions by 1 percentage point – 362
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Newsletter 72 - 06/05/2016
will leave the remaining 1 percent of GDP in measures, mostly increases to indirect taxes, to be approved... throughout that year will stem from pension reform (1 percent), personal income tax reform (1... lending fell sharply in March, with rates for amounts of over 1 million euros dropping by 90 basis
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Newsletter 73 - 13/05/2016
package of parametric fiscal measures amounting to 1 percent of GDP, including an increase in the basic... to be voted in the days ahead (another 1 percent of GDP in fiscal measures, the framework for the sale of non..., the coalition has done most of its heavy lifting for the time being. The 1 percent of GDP in further fiscal
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Greek banks on cusp of improved liquidity conditions
Agorawould no longer be eligible as collateral for ECB funding from March 1, 2015. This means..., for each 1 billion euros of deposits that is returned to the banking system, Greek banks can redeem an equivalent amount of pillar bonds with a nominal value of 1.8 billion. Assuming that this 1
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First review completed but more prior actions lie ahead for Greece
EconomyProgrammeand the independent revenue agency. Privatisations 1) Agreement with the institutions by the end of June... Development Plan by the end of August. Energy 1) The Regulatory Authority for Energy (RAE) has to proceed... for the implementation of the EU target model for the electricity market. Independent revenue agency 1
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Newsletter 86 - 02/09/2016
, investments came in higher on 1 percent QoQ and 7 percent YoY. On the flipside, household consumption fell 0.2 percent QoQ and 1.7 percent YoY. In the first half (H1) of the year, GDP decreased by 1 percent... that seasonally adjusted retail sales and volume rebounded month-over-month (MoM) by 1 and 0.7 percent
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Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
EconomyMacroeconomythe anticipated import rise of 3.3 percent. The unemployment rate is projected to slip by more than 1 percentage... by 0.6 percent in 2017. It is worth noting that nominal GDP is seen at 176.2 billion euros in 2016, 1... revenues. The most significant revenue interventions in 2017 involve: 1) Income tax reform (772 million) 2
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Broadly stable rate in time deposits, corporate loan rates fall in Aug
EconomyMacroeconomyGreek households’ new time deposit rate edged up by 1 basis point (bp) to 0.87 percent in August.... Lower decreases of 19 and 4 bps were recorded for amounts higher than 1 million euros and between 250,000 and 1 million euros respectively. As a result, corporate loan rates in Greece remained around 300
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingguarantee (pillar II) expenses. Operating expenses fell 1 percent QoQ to 247.3 million in Q3, while... total costs to stand below 1 billion for the whole year, from 750 million in the 9-month period. Over... for a gradual and progressive drop in the cost of risk to 1 percent in 2019. Eurosystem funding
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Newsletter 97 - 25/11/2016
percent to reach 2.23 billion, while the travel surplus edged up 1 percent to 2.04 billion. The rise... 16 million. The bank recorded a negative NPE formation for the second successive quarter, of 1... (NPL) and NPE stock by almost 40 and 50 percent, respectively. Net interest income (NII) edged up by 1
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