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  1. PBO report highlights short-term recessionary impact and tax-centric austerity of 2017 draft budget

    EconomyMacroeconomy

    of tax increases would have a smaller direct recessionary impact, the report stresses that tax hikes... lead to lower direct and indirect taxes compared to the previous years’ figures as well as against... percent for expenditure. In addition, the ratio of indirect over direct taxes, which had recorded

    5%

  2. Current account balance turns to deficit of 198 mln in Oct
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyMacroeconomy

    direct investment declined by 80 million in October mainly due to the transfer of National Bank... (i.e. non-residents’ direct investment in Greece) rose by 536 million euros mostly reflecting...’ assets from direct investment abroad fell by 889 million, while the corresponding liabilities

    5%

  3. No fear of the bear? Bilateral economic relations between Germany and Russia
    Photo by Kostas Tsironis/Fosphotos

    Agora

    ), food and agricultural produce. By contrast, the bilateral foreign direct investment landscape shows no signs of decline. Per the Russian Direct Investment Fund, a sovereign-wealth fund set up to assist... half of the year. Direct investment rose to 2.05 billion euros in the first nine months of 2016

    5%

  4. Multiple potential benefits await Greece if it can clinch QE eligibility
    Photo by ECB via Flickr https://flic.kr/p/qhZVDy

    EconomyFeatures

    in a wide sample of countries, the BoG recently concluded that the direct impact from the announcement... banks Lower GGB yields will have a direct positive impact on banks’ capital due to the revaluation... inclusion of GGBs in the QE programme, is expected to have a number of direct and indirect positive

    5%

  5. Budget primary surplus of 1.73 bln outperforms target, tax revenues fall short in April
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    short of the target, while direct taxes slightly beat the target by 22 million. The aggregate figures.... The year-to-date outperformance is due to higher than targeted direct taxes to the tune of 319 million, which offset lower indirect taxes by 247 million. Direct tax arrears and property taxes beat

    5%

  6. Current account deficit eases by 410.6 mln in April
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    to 387.2 million. Financial account Residents’ external assets and liabilities under direct... transactions were recorded under direct investment. The portfolio investment showed a net decrease... period, residents’ external assets under direct investment increased by 908 million, while

    5%

  7. Current account deficit rises by 124.3 mln in May
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    Residents’ external assets and liabilities under direct investment rose by 89 million and 251 million, respectively, during May. The BoG noted that no remarkable transactions were recorded under direct... under direct investment increased by 997 million, while corresponding liabilities grew by 1.6

    5%

  8. Budget primary surplus at 1.94 bln in H1, beating target by 1.5 bln on underspend
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    billion euros in June reflecting a similar decline in both direct and indirect taxes by 9.7 and 9.4... attributed to a better than expected performance of direct taxes. In the 6-month period, gross revenues... expected indirect taxes (by 323 million), while direct taxes beat target by 127 million

    5%

  9. Budget primary surplus at 3.02 bln in July, above target by 926 mln on strong underspend
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    percent and a drop in direct taxes by 3.3 percent. Overall tax revenues were below the monthly target...), other direct taxes (-8.2 percent) and personal income tax (-7.1 percent). In the seven-month period... mainly from higher than expected indirect taxes which outperformed the target by 230 million. Direct

    5%

  10. Draft budget highlights taxpayer fatigue, creates policy mix doubts
    Photo by Gerarsimos Domenikos/Fosphotos

    EconomyMacroeconomy

    for this underperformance is from direct taxation and specifically that of individuals, which is seen totalling 20.37... this in, direct taxation will fall 945 million short of its target. The alarming signals on the revenue side... measures with little effect. Direct taxes estimates for 2018 have also been downward revised from

    5%