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  1. Public investment under spotlight amid arguments over budget execution
    Photo by MacroPolis

    EconomyMacroeconomy

    that the Public Investment Budget (PIB) execution last year was better than 2018 because in the previous... budget execution in the second half of the year, the centre-right government allowed the PIB to reach... that often do not manage to complete the spending within the fiscal year due to procedural or bureaucratic

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  2. Building permits increase by 12.6 pct in October
    Photo by MacroPolis

    EconomyMacroeconomy

    Building permits rose by 12.6 percent year-on-year (YoY) in October compared to a rise of 8.5... the first ten months of the year, building permits rose by 8.6 percent. Total permits in the aggregate... rose by 9.1 percent YoY during the third quarter (Q3) of the year from an upward revised increase

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  3. PM trails switch in tax cuts, admits misstep in approach to migration

    PoliticsGreek Politics

    for this year. The PM’s comments about potentially blocking European Union decisions if Greece’s concerns... reduced corporation tax from 28 to 24 percent last year and had been due to cut it from 24 to 20 percent this year. However, this plan is now set to be shelved, with the prime minister saying

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  4. Primary cash balance surplus at 5.56 bln in December
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    year, excluding the financing of the cash buffer, showed a surplus of 1.51 billion euros. The overall... billion euros against last year’s total of 50.79 billion. Expenditure for December fell by 829 million euros year-on-year to come to 6.54 billion euros. Interest payments dropped by 135 million euros

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  5. Mission chiefs pick up fifth review baton as Greece mulls new bond issue
    Photo by MacroPolis

    EconomyProgramme

    three fiscal demands to be met later this year. The mission chiefs take on the baton from... that will allow the transfer of any additional budget surplus from one year to the next and the lowering... that was presented at the end of last year, the PDMA presented two scenarios of debt issuance for this year

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  6. Lenders conclude 'productive' talks on fifth review but issues remain as Athens targets fiscal space
    Photo by MacroPolis

    EconomyProgramme

    , there is concern within the government that towards the end of the year a wave of auctions of primary...” that allows transfer of excess surpluses from one year to the next (for this year the figure would equate... euros this year and next to eliminate the solidarity levy and bring down social security contributions

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  7. Budget primary surplus confirmed at 5.02 bln in Dec
    Photo by MacroPolis

    EconomyMacroeconomy

    a year ago, and were below the target by 263 million euros. On an aggregate basis, gross revenues came... the target by 12 million euros. Compared to the same period last year, the aggregate figure has... as mentioned, standing 6.4 percent higher than for the same time last year. Expenditure Primary

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  8. Greek 15-year bond attracts strong interest, improves debt profile
    Photo by Yannis Drakoulidis/Fosphotos

    Economy

    of the bond goes beyond the milestone year 2032, when Greece’s official creditors promised to take... in October last year when the PDMA re-opened a 10-year bond, as hedge funds stood at nearly 13 percent at the time. Following the new issue, the maturity year 2035 remains broadly mild in terms

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  9. Newsletter 237 -31/01/2020

    Newsletters

    notches in March last year. Although the agency’s outlook on the long-term trend for Greek GDP remains... at 5.02 bln in Dec Full year figure beats target by 616 million euros The budget primary balance... deposits of 34.55 billion. In December last year, net deposit movement was positive by 3.15 billion

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  10. Banks gear up for 2020 stress tests as evaluation begins
    Photo by MacroPolis

    EconomyBanking

    percent this year, edging slightly higher to 2.5 percent in 2021 and 2022. The unemployment rate... is seen doubling from 0.5 percent in 2019 and this year, to 1 percent by 2022. Home price growth... growth is seen stable over the period, ranging between 3 percent this year, to 2.8 percent in 2022

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