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Tales From the Region #3
AgoraThe founders of the European Project dreamed of a united Europe: a continent of peace, solidarity and common prosperity. Europe without borders and divisions and diverse population. A Europe that will be "stronger together". Do Europeans today cherish t...
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Budget primary deficit reaches 9.09 bln for H1, up almost 3 bln on 2020
EconomyMacroeconomyThe budget primary balance was confirmed at a deficit of 9.09 billion euros in the first half of 2021, compared with a deficit of 6.1 billion in the same period of 2020, according to the final Finance Ministry (MoF) budget execution bulletin for June re...
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More lost ground made up in Aug as travel surplus nears 3 bln
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 2.97 billion euros in August, from 1.32 billion euros a year ago, when the tourism sector rounded off a rather tentative peak season due to the pandemic outbreak, according to Bank of Greece (BoG) data relea...
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Unemployment rate hovers at 12.5 pct in May, improves by 3 pps on last year
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate stayed unchanged in May, dropping to 12.5 percent, from an upwards revised 12.6 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. In the same month last year, the unemp...
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Current account deficit narrows to 5.63 bln up to April, down 3 bln YoY
EconomyMacroeconomyGreece’s current deficit in April narrowed to 1.78 billion euros, from 2.4 billion euros in March, Bank of Greece (BoG) data showed on Tuesday. In April 2022, the balance showed a deficit of 1.66 billion euros, while in April 2021 the current account po...
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VAT, income taxes help push May budget primary balance above target by more than 3 bln
EconomyMacroeconomyThe budget primary balance in May was confirmed to be a surplus of 2.3 billion euros, compared to a deficit of 1.49 billion euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Monday. In the f...
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Current account deficit narrows further in May, down by over 3 bln in first five months
EconomyMacroeconomyGreece’s current deficit narrowed to 1.65 billion euros in May, from 1.78 billion euros in April, Bank of Greece (BoG) data showed on Friday. In May 2022, the balance showed a deficit of 2.08 billion euros, while in May 2021 the current account posted a...
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Industrial turnover resumes growth after 3 months, rising by 2.6 pct YoY in May
EconomyMacroeconomyGreece’s industrial turnover turned positive in May, with a rise of 2.6 percent year-on-year (YoY), from a 9.2 percent decrease in April, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday. This is the first positive rea...
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Tsipras gets full support in pension and income tax vote, moves on to Eurogroup
PoliticsGreek PoliticsBerlin’s position that the two packages of 3 & 2 percent of GDP in fiscal interventions has...Greek Parliament passed the pension and income tax reform bill entailing 2 percent of GDP in fiscal... worsening liquidity conditions over the next weeks – an extra 2 percent of GDP in standby fiscal
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S&P: Greek covered and securitised bonds rated investment grade for first time since 2011
EconomyBankingof Greece’s systemic banks on July 3. In particular, the long-term and short-term creditworthiness... sees Greece growing by 2 percent in 2018, lower than its last official estimate of 2.3 percent... in 2019 and remain above 2 percent before dropping to 1.8 percent in 2022. All estimates are marginally
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