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IMF outlines areas in which Greece needs further reforms, where it should apply caution
EconomyProgrammeto accelerate further this year, but cautions that the reform momentum is slowing down, and risks... in 2019, up from 2.1 percent last year. Growth is seen slowing down to 2.2 percent next year and 1.6... legacy vulnerabilities and the uncertainty due to this year’s election cycle. The Fund urges
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BoG data shows that overseas property investment revenue accelerated in 2018
EconomyFeaturesproperty investments were made in Greece in 2018. This is equivalent to a year-on-year (YoY) increase... the fourth quarter (Q4) of the year showed a rise of 2.5 percent YoY. According to revised data... was observed. It brings the average price rise for the year to 1.5 percent in 2018 compared
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Economic sentiment stays at 101.3 in March
EconomyMacroeconomyindicators. Industry confidence fell by 1.1 points month-on-month to stand and -2.3. Year-on-year... by 4.4 points to 10.5 points in March from 6.1 in March. Year-on-year, service confidence has fallen... points year-on-year. Finally, the construction confidence indicator rose by 13.3 points to -48 from
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Industrial turnover rises by 7.7 pct in February
EconomyMacroeconomyGreece’s industrial turnover picked up by 7.7 percent year-on-year (YoY) in February, reversing... of 27.3 percent. The three largest year-on-year declines in this category were seen in motor... years. The latest reading marks a strong close to the first quarter of the year for Greek manufacturers
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Car sales rise by 20.4 pct in April
EconomyMacroeconomy. In April 2018, the year-on-year rise had stood at 29.3 percent. The increase this April is the highest since August 2018, when the year-on-year rise came to 36.8 percent, and reverses the decline of 9.5 percent in March. Car sales for the month came to 20,808 compared to 17,283 in April last year
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NBG reports net profits of 131 mln in Q1, accelerating profitability
EconomyBanking. The figure for the same quarter last year stood at a profit of 25 million euros. Factoring in discontinued... in the final quarter of last year. NBG noted also that regarding Greek operations, profits from continued.... Compared to the same quarter last year, PPI rose by 6 percent. Asset quality Domestic non-performing
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Banks focus on reducing NPLs linked to property
EconomyMacroeconomyand the Elliott- Bain-Cerved joint venture. Eurobank reported in its full-year results that their real estate... at redesigning its approach to property-linked NPEs. In its full-year financial report for 2018... for this year, the bank notes that it has a total of 3.9 billion euros-worth of transactions lined up
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New overdue taxes rise at lower rate in Apr, total debt at 104.6 bln
EconomyMacroeconomymonths of the year revealed that new tax debt totalled 2.90 billion, lower than the figure for the same period last year by just over 30 percent. In March, the total stood at 2.64 billion euros. New..., in the first four months of the year, the VAT collectability rate came to 83.5 percent, with 2.96
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Car sales rise by 15.2 pct in May and 9.7 pct in aggregate period
EconomyMacroeconomy. In May 2018, the year-on-year rise had come to 18.7 percent. May’s headline figure marks two consecutive months of year-on-year rises after a decline of 9.5 percent noted in March. Car sales for the month came to 23,010 compared to 19,977 in May last year. Out of the total, passenger car sales rose
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May employment balance positive by 105,282 as seasonal hires pick up
EconomyMacroeconomyis the fourth consecutive positive balance for the year so far. Compared to the same month last year... (-9,178), reflecting the end of the school year, followed by telecommunications (-269) and fisheries... than departures. Ergani noted that the balance for the first five months of the year was the highest
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