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Budget primary surplus of 1.19 bln in Jan markedly better than target
EconomyMacroeconomyGreece’s budget primary surplus rose to 1.19 billion euros in January from 443 million last year... just 52 million last year), coupled with a rise in revenues (before tax refunds) and lower primary... also showed a surplus of 1.08 billion, almost triple from last year, exceeding target by 880 million
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A closer look at 2015 revenues reveals size of hit they took
EconomyMacroeconomyto 43.53 billion euros in 2015 from 44.24 billion a year ago. The year on year (YoY) deterioration... only once (in October) after the new VAT became effective. Thus, the full year comparison does... percent in the last three months of the year leading to an overall flat change for the whole year
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBanking, Greek lending spread fell 7 basis points (bps) QoQ resulting in lower loan NII. For the whole year... rose 2 percent QoQ, while eased 0.3 percent to 1.3 billion for the whole year. In Greece, costs fell 2.1 percent year on year (YoY) in 2015. Loan provisions almost tripled QoQ to 739 million in Q4
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Primary cash surplus quadruples to 2.09 bln in first two months of 2016
EconomyMacroeconomyperiod of 2015, which is four times higher than last year’s figure of 503 million, Bank of Greece... of 429 million euros from a deficit of 920 million in the corresponding period last year. Similarly to the budget execution, the marked year on year improvement reflects a soaring Public Investment
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General government primary cash surplus triples to 3 bln by February, arrears climb to 6.1 bln
EconomyMacroeconomyof 2016 from 1 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin... in the state budget figure, which climbed to 2.55 billion from 850 million last year. Extrabudgetary... million a year ago. The evolution of the key gg items displayed revenues increased by 2.03 billion
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Elektroniki’s bankruptcy reflects struggles of consumer electronics sector
EconomyFeaturesof a drop in demand, the capital controls introduced last year and a lack of confidence in the Greek... years, the consumer electronics sector has all but collapsed. For example, in December 2010, the year... being announced on June 29 last year, and in their immediate aftermath, Greeks fearing a haircut
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Primary cash surplus widens to 2.85 bln in Q1
EconomyMacroeconomyquarter (Q1) of 2016 from 1.19 billion last year, Bank of Greece (BoG) figures showed on Wednesday... in the corresponding period last year. The net balance of the central government also recorded a surplus of 524 million euros in Q1 from deficit of 918 million last year. In addition, the March balance displayed
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Q1 GDP contracts 0.4 pct QoQ and 1.3 pct YoY, broadly in line with estimates
EconomyMacroeconomy. The flash estimates also showed GDP fell at an accelerating pace of 1.3 percent year on year (YoY) in Q1... decrease posted in Q4 2015. 2016 outlook Last year the Greek economy recorded a marginal recession of 0.2..., the European Commission (EC) expected a slight recession of 0.3 percent for this year, milder than its
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Newsletter 73 - 13/05/2016
effective in the year thereafter. Discussions also included debt relief measures, with the Eurogroup... surplus widened to 3.22 billion in Q1 from 1.1 billion last year, reflecting an increase in revenue... to the corresponding period last year, according to the Labour Ministry’s Ergani information system
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Budget primary surplus of 2.38 bln by April, continues to beat target due to restricted spending
EconomyMacroeconomybillion in the corresponding period last year, according to the Finance Ministry (MoF) preliminary... million in March compared to surplus of 371 million last year. The state budget balance displayed..., while the year to date overperformance is largely due to the February revenue collection that also
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