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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgrammeand weak payment culture that led private sector debt to the state at 70 percent to GDP with around... in 2019 and 2 percent in 2020, while long-term growth is expected at around 1 percent. Under... the government’s recent estimate of around 2 percent of GDP, which is expected to increase to 1.5 percent of GDP
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Details of technical agreement between Greece and lenders set out in draft sMoU
EconomyProgrammeevening. The 53-page document dated May 2 is broadly similar to a previous draft of April 23 that we...). The streamlining of welfare benefits with estimated savings of 70 million involves a reduction of the heating... (2 million). Although the tax expenditures to be abolished are not detailed in the draft sMoU
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Q1 GDP down by mild 0.1 QoQ, hinting at impact of drawn-out review
EconomyMacroeconomyare expected to be revised upon the release of the provisional estimates due on June 2, including.... Exports fell by 2 percent, while imports edged down 0.4 percent. In addition, gross capital formation... around 70 percent of total GDP), a strong increase in investments by 5.9 percent and a higher growth
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Newsletter 120 - 26/05/2017
percent are aged between 71 and 80. Around three in ten (29.5 percent) are aged between 61 and 70... percent, respectively). This falls well below all other eurozone countries. 2 Current account deficit... in new apartments (up to 5 years old) declined by 2 percent YoY and by 0.5 percent QoQ, while the prices
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Check, please: How much Alexis Tsipras's first months cost Greece
Agorato additional fiscal measures worth 2 percent of GDP in the form of pension cuts and tax hikes for 2019... to the acrimonious negotiations with the creditors, at a cost of nearly 2 billion euros. Repos The Greek..., the collateral damage of the first six months of 2015, which exceeds 70 billion euros, cannot be disputed
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General govt primary cash surplus at 1.98 in Jan, arrears fall by 167 mln
EconomyMacroeconomythe sales of nonfinancial assets declined by 12 million, standing at 2 million in January versus 14...) and transfers (+25 million). Subsidies fell by 70 million to 92 million, while interest paid fell to 4.... A rise of 47 million in arrears of hospitals was noted in January, along with a rise of 2 million
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Greece’s unstable and confusing tax system failing to deliver results
EconomyMacroeconomyof any OECD country, with tax evasion estimated at between 2 to 5 percent of GDP per year according... paid 42 percent of taxes. Over 70 percent of freelancers and 90 percent of farmers reported incomes.... The equivalent in the UK is 5 percent, and in Germany just 2 percent. Greece’s problematic tax
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Fiscal Council endorses fiscal and macro assumptions but warns of potential obstacles
EconomyMacroeconomydebt sustainable. The MTFS revises the initial growth estimate for 2018 to 2 percent, from 2.3 percent.... However, with private consumption standing at close to 70 percent of Greek GDP is a major defining... growth of 2 percent during the period is not just an optimistic forecast. As result, the Council makes
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Eurobank sees net profits of 1.1 mln in Q2, NPEs continue to fall
EconomyBankingto 70 percent from 70.6 percent. In the Greek market, the NPL ratio fell slightly to 36 percent from... percent to 217.1 million QoQ. In H1, the figure fell by 2 percent YoY, with the decline coming to 3.4... quarter. Balance Sheet Eurosystem funding declined by 2 billion euros QoQ to 5.1 billion in June
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Eurobank net profits of at 45.1 mln in Q3, NPEs under 40 pct for first time
EconomyBankingfrom 32.5 percent in Q2. The NPL coverage ratio fell to 68 percent from 70 percent. In the Greek... of Greece’s first loan portfolio securitised against mortgages, with a gross book value of about 2.... Emergency Liquidity Assistance (ELA) funding in particular fell to 2 billion in September from 3.8
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