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Newsletter 86 - 02/09/2016
, investments came in higher on 1 percent QoQ and 7 percent YoY. On the flipside, household consumption fell 0.2 percent QoQ and 1.7 percent YoY. In the first half (H1) of the year, GDP decreased by 1 percent... that seasonally adjusted retail sales and volume rebounded month-over-month (MoM) by 1 and 0.7 percent
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Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
EconomyMacroeconomythe anticipated import rise of 3.3 percent. The unemployment rate is projected to slip by more than 1 percentage... by 0.6 percent in 2017. It is worth noting that nominal GDP is seen at 176.2 billion euros in 2016, 1... revenues. The most significant revenue interventions in 2017 involve: 1) Income tax reform (772 million) 2
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Broadly stable rate in time deposits, corporate loan rates fall in Aug
EconomyMacroeconomyGreek households’ new time deposit rate edged up by 1 basis point (bp) to 0.87 percent in August.... Lower decreases of 19 and 4 bps were recorded for amounts higher than 1 million euros and between 250,000 and 1 million euros respectively. As a result, corporate loan rates in Greece remained around 300
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingguarantee (pillar II) expenses. Operating expenses fell 1 percent QoQ to 247.3 million in Q3, while... total costs to stand below 1 billion for the whole year, from 750 million in the 9-month period. Over... for a gradual and progressive drop in the cost of risk to 1 percent in 2019. Eurosystem funding
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Newsletter 97 - 25/11/2016
percent to reach 2.23 billion, while the travel surplus edged up 1 percent to 2.04 billion. The rise... 16 million. The bank recorded a negative NPE formation for the second successive quarter, of 1... (NPL) and NPE stock by almost 40 and 50 percent, respectively. Net interest income (NII) edged up by 1
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Newsletter 99 - 09/12/2016
of the last bailout tranche of 2.8 billion, mitigated by a decline in repos by 1 billion. The 2016... roughly 1 million Greeks in what was labelled a “social dividend”. Tsipras’s surprise pledge... fell at an accelerating pace of 1 percent from 0.6 percent in October, mainly due to a decrease
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Athens grapples with awkward reduction of tax-free threshold
EconomyProgrammelegislated last May an income tax reform yielding 1 percent of GDP by 2018. This included an increase... of 7,723 euros), Greece could achieve 1 billion euros in savings that could sustainably finance... euros. The incremental revenues are seen at 1.8-2 billion euros (around 1 percent of GDP
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Newsletter 114 - 07/04/2017
involves Athens adopting 1 percent of GDP (roughly 1.8 billion euros) in new measures in 2019 and another 1 percent of GDP in 2020. The first set will be mostly made up of cuts to pension spending.... Manufacturing PMI dropped by 1 point to 46.7 in March, almost offsetting the increase of 1.1
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Newsletter 117 - 05/05/2017
and pensions (68 million) and halving the heating oil allowance. The pension savings of 1 percent of GDP... cuts of up to 18 percent, while the tax reform – which is expected to yield 1 percent of GDP... increase in 2019 and tax relief in 2020, each worth 1 percent of GDP. The targeted social expenses
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IMF sets out why it stands apart from eurozone on long-term growth prospects
EconomyProgrammefor growth, which the IMF does not see exceeding 1 percent over the next half-century even if structural..., which implies an annual reduction of Greece’s labour force just short of 1 percent (0.9 percent) each... the -0.5 starting point and achieve even the modest 1 percent growth that the IMF estimates
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