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  1. Severe underspend covers lower revenues for end-May primary surplus

    Economy

    euros from 707 million in the corresponding period last year, according to the Finance Ministry... of 597 million euros in May compared to a target of 246 million, reducing accordingly the year.... The outperformance so far this year is attributed to substantial lower expenditure (by 1.94 billion) and much

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  2. Greek C/A deficit shrinks by 17 pct in April as imports drop faster than exports
    Photo by MacroPolis

    EconomyMacroeconomy

    1.15 billion last year, according to the Bank of Greece (BoG). The improvement in the C/A balance by 196 million year on year (YoY) stems from a widening of the services surplus by 100 million as well... percent to 3.14 billion from 2.3 billion in the corresponding period last year. As already evident

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  3. Greek primary cash surplus at 1.07 billion at end-May on lower expenditure
    Photo by MacroPolis

    EconomyMacroeconomy

    in the 5-month period of 2015, from 1.057 billion last year, according to the Bank of Greece (BoG). It should be noted though that last year’s figure included one-off revenues of 1.31 billion related to the payment of preference shares by Alpha and Piraeus. Similarly, this year’s figure incorporates an one

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  4. Travel receipts rise by 16.3 pct in April on jump in arrivals

    EconomyMacroeconomy

    million in April 2015 from 410 million in the corresponding period last year. At the same time... with the drop in payments led the April travel surplus to 311.9 million, up 40.5 percent from last year’s... year. The double-digit growth in the year to date receipts is fully attributed to surging

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  5. The lenders proposals on debt and funding needs that Greeks will vote on in referendum

    EconomyProgramme

    of 1 percent this year and 3.5 percent in 2020 and 2022. Under scenario A, with nominal GDP growth... this year and cumulative 15.2 billion in 2020 and 22 billion in 2022, the debt to GDP ratio is seen... of 1.2 percent this year, but higher growth of 3.7 percent in 2020 and 2022. It also assumes lower

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  6. Car registrations resume upward trend in August rising by 20.1 pct
    Photo by MacroPolis

    EconomyMacroeconomy

    in August, which is the lowest reading so far this year, yet August is a seasonally weak month usually registering the smallest number for the whole year. The highest reading so far in 2015 was posted... indicating a slowdown from the 27 percent rise posted in the first half of the year. In absolute figures

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  7. Car sales rise by 21.7 pct in June for fifth straight increase above 20 pct
    Photo by MacroPolis

    EconomyMacroeconomy

    months of the year, the aggregate figures for the first half of the year point a rise by 27 percent broadly similar to that (28.5 percent) recorded a year ago. The absolute figures show road motor cars... road motor cars in June and almost 54 percent in the first half of the year, broadly in line

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  8. Current account surplus at 407 mln in May - first positive balance since Sept 2014
    Photo by MacroPolis

    EconomyMacroeconomy

    million last year, according to the Bank of Greece (BoG). This is the first positive reading since September 2014. The improvement in the C/A balance by 707 million year on year (YoY) mainly reflects... improved by almost one third to 985 million from 1.46 billion last year, reflecting a double-digit drop

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  9. Travel receipts up 17 pct in May as average expenditure per trip rebounds
    Photo by MacroPolis

    EconomyMacroeconomy

    figures showed travel receipts stood at 1.22 billion euros this May from 1.04 billion last year, while... billion, up 20.6 percent continuing its strong growth in the course of this year. This is fully... France. On the flipside, arrivals from Russia plunged 61.6 percent in the first five months of the year

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  10. Newsletter 40 - 28/08/2015

    Newsletters

    to the polls for the third time this year (if the July referendum is included) on 20 September... be completed by the end of the year, according to all official statements so far, a bail-in of senior debt requires an amendment to become effective within this year. In the event of a bail-in, the first

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