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How big is the gap separating Greece and the institutions?
EconomyProgrammegovernment. This creates a gap of 470 million on a full year basis with half of this amount related to this year since the new VAT rates will be effective from July 1. Apart from the total estimated... for supplementary pensions retroactively from beginning of this year. This was one of the government
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Newsletter 32 - 26/06/2015
parties agree on permanent savings of 0.25–0.5 percent of GDP in 2015 and 1 percent on a full year basis... for supplementary pensions, effective retroactively as of the beginning of this year, which Greece rejects... the end of this year. Moreover, any proposed changes by the Greek government to the legislative
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Credit contracts by slower rate of 2.1 pct in May
EconomyMacroeconomy. It is noteworthy that the net flow in corporate lending is positive year to date at 233 million largely reflecting additions of 762 million in the first two months of the year. It is noteworthy... broadly stable at 291 million, while the year to date negative lending flow reached 1.62 billion
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What next for Greece's revenues and spending?
Agora. The government has not yet clarified when the ENFIA for this year will be paid, but certainly it would... that spending on wages and pensions was on target during the first five months of the year... consistently below their targets throughout the first five months of the year and involve: 1) Grants
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Revenues 705 mln short in June but expenditure above target by 961 mln
EconomyGreece’s budget primary surplus widened to 1.88 billion euros in the first half of the year, from 1.51 billion in the 5-month period, and 707 million in the first half of last year, according... reached 2.96 billion remaining below the 3-billion mark for the second successive month. The year
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Eurobank acquires Alpha network in Bulgaria, kicking off round of consolidation abroad
EconomyBanking. Following the completion of the transaction, expected by the end of the year, Postbank will become... and neutral for Alpha, while Postbank is expected to benefit from synergies from the second year... year on year to 63 percent in Q1. Postbank is the second largest Eurobank subsidiary abroad
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Rate of drop in apartment prices picks up again in Q2
EconomyMacroeconomyby more than 20 percent each year from 2008 until 2014. The biggest drop was recorded in 2011 when... in building permits, it is premature to estimate a rebound for the whole year, particularly after... environment in the first half of the year, with official projections pointing to a recession of 2 – 4
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Current account in surplus for 2nd straight month in June but down 20 pct on 2014
EconomyMacroeconomybut it narrowed by 20 percent year on year (YoY), reaching 1 billion euros from 1.25 billion in 2014... year, mainly derives from higher net investment income payments coupled with lower net other primary... in June from 5.2 billion in May. Compared to last year, they modestly grew by 0.1 billion
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Accommodation and food services index rises by 13.4 pct in Q2
EconomyMacroeconomyto be a record year for tourism. In late August, SETE chairman Andreas Andreadis said that under... million this year. If confirmed, this would mean 1 million higher arrivals compared to last year’s... years’ figure of 13.5 billion Better than expected tourism this year may mitigate the recessionary
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Car registration growth slows to 6.7 pct in September
Economy. The highest reading so far in 2015 was posted in May at 13,000, while five of the six readings this year... just shy of 90,000 from 76,600 last year. Passenger cars posted a similar rise of 7.1 percent... in the first half of the year, are attributed by market sources to renewal of Rent-a-Car fleets
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