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Draft bill sees millions in savings and revenues from variety of bailout interventions
EconomyProgrammewith a net positive impact of more than 600 million euros in 2016 are as follows: 1) Annual revenue... in the excise tax on diesel for farmers (from 66 euros per 1,000 litres to 200 euros as of October 1, 2015 and further to 330 euros as of October 1, 2016) is anticipated to raise 13 million euros in 2016
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European Commission evaluates impact of bailout programme
EconomyProgramme: 1) Granting guaranteed contributory pensions only at the attainment of the statutory retirement.... According to the Commission, the main objectives of these further reforms are to: 1) Establish... is estimated to increase revenues by around 1 percent of GDP with current VAT revenues accounting
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Revenue uptick unable to stop 7-mth primary surplus outperformance falling to 724 mln
EconomyMacroeconomyunderperformance in July revenues, which primarily stemmed from: 1) No receipt of SMP and ANF income... 1 percent to 4.34 billion, marginally above target of 4.32 billion. Tax refunds dropped by 22.8... underperforming items related to grants to SSS and operational and other expenditure include: 1) Grants
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Marked drop of 50 bps in new time deposit rate in July amid capital controls
EconomyMacroeconomyrelate to loans with fixed maturity. In particular: 1) Sharp rise by 89 bps to 5.83 percent for amounts above 250,000 and below 1 million euros. 2) Significant drop by 58 bps to 3.94 percent for amounts above 1 million euros. The July rate indicates the lowest reading since June 2010. Greek corporate
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Accommodation and food services index rises by 13.4 pct in Q2
EconomyMacroeconomymillion this year. If confirmed, this would mean 1 million higher arrivals compared to last year’s figure of 24 million and 1 million above SETE initial estimate of 25 million. In addition, Andreadis forecasted direct tourism revenues to reach 14.5 billion in 2015, 1 billion or 7.4 percent above last
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Signifcant underspend covers revenue shortfall for budget primary surplus to August
EconomyMacroeconomythat a large part of the revenue underperformance is attributed to: 1) SMP and ANFA income of 1.72... in August, with the 8-month figure up by 1 percent to 7.35 billion, proportionally in line with the full... proportionally below target. These mainly involve: 1) Grants to Manpower Employment Agency (at 32 percent
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Travel receipts up by a modest 3.5 pct in July in aftermath of capital controls
EconomyMacroeconomypercent). On the flipside, arrivals from France slipped 1 percent, while those from Russia plummeted... and 1 million above SETE initial estimate of 25 million. In addition, direct tourism revenues are now seen at 14.5 billion this year implying a rise by 1 billion or 7.4 percent above last years’ figure
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Banking system showed deposit inflows for second straight month, at 531 mln in Sept
EconomyMacroeconomyon Tuesday. The recorded inflows of around 1 billion over the past two months largely reflect... a net amount of 199 million. Following the net inflows of around 1 billion in the last two months... - rebounded by around 1 billion to 140.36 billion in September. This is the lowest reading since December
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The key points in Greece's new bank recap bill
Economyframework: 1) A bank that has been deemed viable by the Bank of Greece (BoG) may apply to the Hellenic... is allocated among preference shares and other Core Tier 1 (CET1) instruments, Tier 1 instruments, Tier 2
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Piraeus Bank reveals mitigating actions aimed at reducing size of capital increase
EconomyBankingthat would be approved by the SSM. The list of Piraeus capital actions includes: 1) Two Liability... million relate to senior bonds and 225 million to junior bonds. 2) Increase of Common Equity Tier 1... by the SSM stands just above the 1 billion mark with 60 percent corresponding to the LMEs. Thus, under
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