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Final budget primary surplus reached 2.72 bln at end-April after upward revision of PIB revenues
EconomyMacroeconomybillion) also supported by revenue outperformance (by 378 million), which more than offset a lower than... indirect taxes increased by 5.2 percent to 7.74 billion, 160 million lower than target. Income... in April to 3.12 billion euros, which was 472 million lower than target. However, the 4-month figure
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Five-month budget primary surplus of 2.27 bln, revenues outperform in May
EconomyMacroeconomypercent in April, to 3.17 billion euros, 240 million lower than target. For the 4-month period, primary... lower than target, also incorporating a remarkable containment in military procurement at just 31... billion, 371 million lower than target. Overall, the 5-month PIB balance posted a surplus of 831 million
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In updated DSA, EC sees Greek debt as unsustainable if no relief measures implemented
EconomyProgrammefiscal outcome in 2015 and lower bank capital needs. As a result, Greece’s debt to GDP ratio landed at 176.9 percent in 2015, almost 20 percentage points (pp) lower than the 196.3 percent projected...: Scenario (B) assumes lower GDP growth by 0.25 pp per annum between 2019-2030, primary surplus to start
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ECB reinstates waiver in first step towards improving liquidity conditions for Greek banks
EconomyBankingfor Emergency Liquidity Assistance (ELA) funding may be switched to ECB funding. This entails lower... gain access to cheaper liquidity of 5-6 billion euros. This would lead to lower interest expenses..., this would result in lower interest expenses of 130 million euros on an annual basis. The ECB also said
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Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
EconomyMacroeconomylower than target. The 5-month figure eased 1.1 percent to 15.49 billion, which was 2.06 billion..., corresponding to 29 percent of the annual target of 1.3 billion) It is worth highlighting that the lower-than... lower than target, also incorporating a notable cut in military procurement to 31 million compared
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Current account surplus almost doubles to 1 bln in June
EconomyMacroeconomyprices rose by 4.3 percent. The deterioration in the services balance mostly stems from lower net... improved over the 6-month period mainly due to lower oil prices. Moreover, net payments for purchases... reflects lower net transport receipt mostly attributed to capital controls. In addition, travel
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Newsletter 86 - 26/08/2016
was 875,259 – equally affecting men and women – and only marginally lower from the 2014 high of 936,832... on incomes. In 2009 that figure was much lower at 539,000. These labour-market developments have pushed... changed as lower disposable income required the reallocation of financial resources in types of spending
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IMF upgrades Greece’s GDP and unemployment rate estimates
EconomyMacroeconomypercent in 2017, while OECD has a lower growth estimate of 1.9 percent for next year. The report also... on Greece’s unemployment rate which is now seen lower by 1.7 percentage points to 23.3 percent... percent in the previous WEO. It is highlighted that IMF jobless forecasts stand at lower levels
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IMF sees primary surplus of 0.7 pct of GDP in 2017, debt ratio peaking at 184.7 pct
Economyof 0.1 percent of GDP in 2016, lower than the third eurozone bailout programme target of 0.5... of 0.7 percent of GDP, still remaining more than 1 percentage point lower than the programme target... decreasing to 174.8 percent in 2017. The latter stands 10 percentage points lower than that of the IMF
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PBO report highlights short-term recessionary impact and tax-centric austerity of 2017 draft budget
EconomyMacroeconomylead to lower direct and indirect taxes compared to the previous years’ figures as well as against... also reveals that the fiscal interventions included in the 2016 budget yielded almost 67 percent lower... that countries with much lower expenditure (as a percentage of GDP) record much better economic results
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