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OECD expects Greek economy to recover, stresses need for structural reforms and debt relief
EconomyMacroeconomyand 4.6 percent in 2017 and 2018 respectively. After a notable drop of 7.5 percent in 2016, exports... that reducing administrative burdens and opening up of professions would raise productivity... is expected to improve fairness and free up resources for greater support for the poor
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Decisive week for Greek programme begins with proposal from Athens
EconomyProgrammewith the Greek daily Real News on Sunday, Moscovici noted that Greece needs to live up to its commitments... person up to 9,545 euros for a family with at least three children, while the medium VAT rate... and will accelerate a drop in unemployment, Tsakalotos noted.
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Banks see efficiency gains after shedding 29 pct of staff, 42.6 pct of branches during crisis
EconomyBankingfor 2016. The marked drop in operating expenses led to efficiency gains with Greek banks’ cost to income... month, opening of new deposit accounts, withdrawal of up to 60 percent (from 30 percent currently) of the money transferred to a Greek bank account from abroad and money transfers abroad up to 2,000 per
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Q4 GDP contracts 0.4 pct QoQ, growth of 0.3 pct in 2016
EconomyMacroeconomypublic consumption fell by 1.2 percent leading total consumption up modestly by 0.5 percent. According... rising by 0.6 percent in 2016. Private consumption holds the lion’s share making up 69 percent... attributed to a rise in goods by 6.6 percent mitigated by a drop in services by 15.6 percent
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Tsipras's choices are becoming clearer but not any easier
Agorameasures and blaming the impasse on the lenders, it might push SYRIZA’s ratings up a few percentage... that there is no escaping from unless the IMF leaves and the current programme is torn up. However, in the absence... using the influence the US has within the IMF to force the Fund to drop out of the Greek programme
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Primary cash surplus down to 248 mln in Jan, including modest arrears repayment of 41 mln
EconomyMacroeconomygrowth of 17.2 percent and stood at 3.68 million euros in January, up by 541 million from last year..., the Public Investment Budget (PIB) balance posted a sharp drop in its surplus to just 99 million from 429...) earlier this week showed the budget primary surplus edged up 0.9 percent to 1.01 billion in January
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Eurosystem funding down by 1.1 bln in Feb, ELA increases for first time since April
EconomyMacroeconomy. ELA funding stood at 43.15 billion euros in February up from 42.81 billion in January, which... recorded a cumulative drop of 64.69 billion, of which more than two thirds (43.62 billion) relates... to a further shift of the total mix towards ELA funding, which made up 69.7 percent of the total figure
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Travel receipts fall by another 3.1 pct in Feb on lower spending
EconomyMacroeconomyfrom just 6.3 million a year ago. The decline in revenues is attributed to a drop in the average... by 27.7 percent. Overall, arrivals from EU countries edged up 2.2 percent to 575,100, while those... receipts from the EU edged up 1 percent to 168 million, while those from non-EU countries fell
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Greeks most sceptical in EU about country's future, their voice counting in Europe
Society(76 percent) of Greeks are dissatisfied with “the way democracy works in the EU”, up six points... states – agreed that their country’s voice matters in the EU, representing a drop of 14 points... good for Greece, 34 percent of Greeks agree that it has, 32 percent that it hasn’t (both up three
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Greek SMEs struggle most for finance versus eurozone peers
EconomyMacroeconomymanagers was not a major concern for Greek SMEs. Though the rate edged up close to 6 percent... continued to report the highest need for bank loans at 31 percent, up from 26 percent previously... period ending in March 2016. The survey also showed that Greek SMEs continued to record a drop
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