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IMF downgrades Greek GDP and unemployment forecasts
EconomyMacroeconomy, which stood at high-end of the estimates made last year. We understand that the downward revision... year on year compared to IMF’s estimate for a growth of 0.7 percent. The European Commission (EC) and the Finance Ministry anticipate GDP growth of 2.5 percent this year. In addition, the Bank
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Primary surplus up to 3.9 pct of GDP in 2016, far above target
EconomyMacroeconomypercent of GDP) compared to a deficit of 5.59 billion (3.2 percent of GDP) in the previous year. The fiscal consolidation in 2016 is impressive taking into account that Greece remained in the seventh year... year, while the overall balance climbed by 6.8 billion. This reflected a rise in revenues by 2.65
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Budget primary surplus of 1.1 billion slightly outperforms target by 77 million in Q1
EconomyMacroeconomypercent from last year’s figure of 1.86 billion, according to the Finance Ministry (MoF) final budget execution bulletin. As we noted in the preliminary figure published on April 18, the year to date... expenditure at 140 million corresponding to 7 percent of the full year target of 1.99 billion. MoF said
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Newsletter 116 - 28/04/2017
rules, 6.13 billion above the figure of 737 million (0.4 percent of GDP) recorded a year ago... (Q1), down 42.6 percent on last year’s figure of 1.86 billion, according to the Finance Ministry... for the first two months of the year showed overdue obligations reached 2.62 billion, down 4.9
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Net job hirings hit high of 92,132 in April, driving 4-month figure to new record
EconomyMacroeconomy90,631 last year, data from the Labour Ministry’s Ergani information system revealed on Tuesday. This year’s figure represents the highest positive reading for April since 2001. April is a month that has.... The respective figures in 2013 and 2014 were well above 60 percent. Moreover, 33.1 this year’s April hirings
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Primary cash balance records deficit of 404 mln euros in 4-month period
EconomyMacroeconomyin the first four months of 2017, from a surplus of 2.93 billion euros last year, Bank of Greece (BoG) figures showed on Thursday. This year’s figure includes arrears’ repayments of 544 million, of which 112..., from a surplus of 205 million euros a year ago. This includes a one-off item of around 2 billion
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The wit and will of men
Agora, which has been pending since 2012, when a Eurogroup in November of that year first suggested... to Greece on May 9 last year, when the Eurogroup agreed that it would consider “if necessary, possible... for at least the next 12-18 months (a rarity during the seven-year crisis) and give the economy
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NBG net profits at 5 mln in Q1, NPEs drop for fourth straight quarter
EconomyBankingoperating expenses. Asset quality Despite the uncertainty prevailing in the first months of the year..., management stressed that it feels confident about meeting this year’s NPE reduction target of around 1.8... NII is seen broadly stable by the end of the year. Fee income rose by 8 percent QoQ to 63 million
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Newsletter 120 - 26/05/2017
-offs, while banks appeared confident that they will meet their NPE reduction targets this year. Banks... billion in March from 772.4 million a year ago. The current account (C/A) deficit lion to 1.32 billion in March from 772.4 million last year, BoG figures showed. The deterioration largely reflects
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Economic sentiment down 1.7 pts in May, consumer confidence up for second straight month
EconomyMacroeconomyat 93.2 in May, which is the lowest reading since February, representing a year-to-date deterioration... points since the beginning of the year, mostly reflecting a sharp decline of 5.5 points in February..., bringing the year-to-date drop to 23.4 points. Industry confidence fell by 4.8 points to -10.4, which
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