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Signifcant underspend covers revenue shortfall for budget primary surplus to August
EconomyMacroeconomybillion that have not been collected yet. 2) Non assessment (and consequently non payment) of the first... in early October. Expenditure Primary expenditure slipped by 2 percent in August, which indicates... of the FY target of 750 million) 2) Other social security funds expenditure (at zero versus an annual
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Newsletter 43 - 18/09/2015
26.6 percent in Q1. The unemployment rate also improved by 2 points compared to the Q2 2014 rate... the unemployment rate improved by 2 points. Primary surplus almost doubles Greece’s budget primary surplus... million above target. 2 Parties miss the point The election outcome and country's prospects remain
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Greece passes latest omnibus bill, looks to next actions ahead
EconomyProgramme-tranche of 2 billion euros was voted through the Greek Parliament on Thursday evening. The bill... to disburse the 2 billion euros on Monday. As we indicated on Thursday, a series of pending issues... of non-performing loans for both corporate and households. 2) An overhaul of the pension system
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Newsletter 50 - 06/11/2015
then need 2 and 2.7 billion, respectively, of official support. Overall, banks would seek to raise... to be completed this year, thus the bank will seek state support of around 2 billion. A part of the sale... contracted in September.. 2 Opposite ends of the periphery Greece and Portugal continue to have
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NBG reports net losses of 401 mln in Q3, NPL formation accelerates in Greece
EconomyBankinginterest income (NII) fell 2 percent quarter on quarter (QoQ) to 738 million mostly due to negative FX... of the Eurosystem funding by 2 billion euros QoQ fully attributed to lower Emergency Liquidity Assistance... of the Finansbank sale is not expected within 2015, the bank would seek state aid of 2 billion, 0.5 billion
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Newsletter 51 - 12/11/2015
already clarified it would also seek state aid of 2 billion to cover its total capital shortfall... for the 2 billion, plus 10 billion for the banks, to be released. Those pending matters consist.... The first negative reading since last year, the Q3 figure was better than predicted. 2 A valuable
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Gov't submits multi-bill to pave way for next bailout tranches
EconomyProgrammethe tenure of the first General Secretary for Public Revenues (after the voting of the bill) at 2 years... to convene on Friday to approve the disbursement of the next sub-tranche of 2 billion as well... is reportedly expected to convene on Monday to formally approve the disbursement of the 2 plus 10
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Newsletter 55 - 12/12/2015
2016, which he set at around 3 billion, a higher figure than the 2016 budget target of 2 billion. In their last debt sustainability analysis last summer, the IMF foresaw privatization revenues of 2... percent). The low reading is largely due to a decline in housing and transport prices. 2 A love
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S&P upgrades Greece’s rating by one notch, sees compromise on pension reform by March
Economypercent of total loans 2) Government has committed to increase public savings meaning... imposed in 2012. Primary surplus is expected to improve close to 2 percent by 2019, yet it would remain..., assuming optimistic nominal GDP growth of 5 percent, primary surplus of 2 percent and current borrowing
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Wide range of exacting issues lie ahead for Greece in first bailout review
EconomyProgrammecuts imposed in 2012 that would create a fiscal gap up to 2 percent of GDP (3.7 billion euros) and the huge stock of pending pensions, which have an estimated cost in excess of 2 billion. Non... sub-tranches of 2 and 1 billion were disbursed on November 23 and December 22 after
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