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Trade deficit rises by 1.2 pct in November
EconomyMacroeconomyGreece’s trade deficit edged up by 1.2 percent in November, after a double-digit drop of 16.1.... In addition, imports from EU countries edged up by 0.3 percent, while those from non-EU countries increased... percent, while imports edged up 1.2 percent, leading the corresponding trade deficit down 10.8 percent
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Stocks rebound by 0.7 pct for third straight week amid light trading activity
EconomyThe Greek stock market edged up 0.7 percent for the third successive week following the return... turnover picked up to 60 million euros on Wednesday on improved investor sentiment. Overall, the average... Telecom (OTE) reported a drop of 7.8 percent in net profits to 151.9 million in 2016 with turnover
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Wait continues for agreement on measures, tension builds in Athens
PoliticsGreek Politics. It appears that the latest hold-up has been caused by dispute between Athens and the International Monetary Fund over pension cuts and labour reforms. The IMF appeared ready to drop some of its... and Tsipras. Speculation has it that the finance minister is keen to wrap up the agreement and thought
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Athens details fiscal counter-measures, a vital selling point for Tsipras
EconomyProgrammethe contribution be reduced by 50 percent and for higher income up to 1,500 euros the contribution would... in the private sector by 50 percent and up to 500 euros per month. Companies would be obliged to retain... drop to 3 percent (from 5 percent). For the bracket including taxpayers with income between 30,000
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These were the key drivers behind Greece's strong fiscal performance in 2016
EconomyMacroeconomystemmed from VAT, which shot up by 1.45 billion to 14.33 billion. Other revenues increased by 1.37 billion to 11.18 billion, while taxes on income and property, which make up around 21 percent... expenditure, edged up by 210 million to 10.71 billion. Compensation of employees remained almost stable
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Piraeus posts 7 mln net profit in Q2, NPE stock down for seventh straight quarter
EconomyBanking. Nevertheless, the NPE ratio edged up to 52.3 percent in Q2 from 51.9 percent in the previous quarter... to the reclassification of 69 million from loan impairments. Operating expenses edged up 1 percent QoQ to 292 million in Q2, but declined by 5 percent to 582 million in H1, on the back of a drop in personnel
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NBG reports net losses in Q2, NPEs down for fifth straight quarter
EconomyBanking-provision income (PPI) fell by 3 percent quarter on quarter (QoQ) to 232 million, reflecting a drop... a positive formation of 43 and 25 million in Q2. Overall, the group NPE ratio edged up to 45 percent from... quarter going forward. Operating expenses edged up by 0.3 percent QoQ to 232 million, while the H1
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Newsletter 133
by 14.9 percent and a drop in direct taxes by 11.9 percent. In total, tax revenues missed their monthly... returns. The positive deposit flow in the Greek banking system picked up pace in August to 1.41... at 15.3 points. Retail trade turned neutral after August’s figure of -3.6, and construction picked up
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Athens outlines 2018 debt management plan for post-bailout era
EconomyMacroeconomyexit on market access, the build-up of cash reserves via programme financing and the medium-term debt... to the market by disbursing tranches for the build-up of reserves that will form a safety net after... debt management strategy resting on. The government anticipates savings in debt servicing from the drop
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General govt primary cash surplus at 5.34 bln in nine-month, sharp fall in arrears
EconomyMacroeconomy. The drop reflects the government’s recent drive to clear arrears as part of its effort to wrap up... months of 2017, up marginally (by 3 million euros) compared to the same time last year, according... by 102 million. At 45.7 percent, arrears to SSFs continue to make up the lion’s share of the total
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