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Tsipras tries to use Brussels warning to his political advantage
PoliticsGreek Politicsabout whether this year’s fiscal targets will be met, the slow pace of reforms and excessive hiring... for the government to reduce this year by 1,550 the number of contract workers hired in the civil service after exceeding last year’s limit. The SYRIZA leader noted that dismissals in the public sector had not been
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Tsipras steps in to limit damage, Mitsotakis eyes tax cuts and fiscal targets
PoliticsGreek Politicsfollowing the exit from the third programme last year. The change in the tax limit would have to almost 3.5 million taxpayers who are currently exempt paying up to 650 euros a year in income tax. Alexis... it has committed to not lowering the tax-free threshold next year. Over the last few weeks
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Parties' competing tax pledges come up against challenging reality
EconomyFeaturesand their practical feasibility. Tax base A total 8,907,722 individuals declared income in the tax year 2017... revenues fell by 19 percent from 10.3 billion to 8.3 billion euros. Over the five-year period... euros see tax cuts of starting at about 20 euros a year in the lower end of the scale, rising
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Mitsotakis vows to push on with tax cuts despite fiscal concerns
PoliticsGreek Politicsfollowing discussions with Greece’s lenders later this year. New Democracy is planning to lower...-year plan at the Thessaloniki Expo. Mitsotakis pledged to introduce a wide range of reforms during his... that it would reach the 1:1 ratio the government has been implementing since the start of the year. Justice
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NPEs down by 13 pct to 81.8 bln in 2018, but BoG highlights continuing credit risk
EconomyBankinglast year, the NPE ratio stood at 45.4 percent, from 47.2 percent at the end of 2017. According... than one year. The equivalent statistic for mortgages that have not been serviced for one year... been denounced. At the end of 2018, the figure stood at 39.1 billion, from 43.4 in the previous year
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Card usage gains traction with debit cards leading the way, BoG finds
EconomyBankingmillion, recording a rise of 1 percent year-on-year (YoY) versus 2017. The majority of these cards.... Of these transactions, 88 percent were carried out with debit cards. Credit card transactions last year... in 2017, 15 percent in 2016 and 16 percent in 2015, the year that capital controls were introduced
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Deposits rise by 561.6 mln in May, positive for third month
EconomyMacroeconomyin both January and February of this year. The outstanding balance of private sector deposits... of 50.40 billion and sight deposits of 31.38 billion. In May last year, the balance was positive... in the first five months of the year. The aggregate figure for the same period last year showed positive
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Trade deficit jumps by 56 pct in May
EconomyMacroeconomymonth last year. A breakdown of the figures by geography showed that imports from non-EU countries... of the year showed that the trade deficit increased by 16.5 percent, bringing the total shortfall... showed a milder rise of 4.4 percent. In the first five months of the year, the absolute figures
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Eurogroup emphasises limited room for discussion on fiscal targets
EconomyProgrammeside of things next year. In effect, this would mean trying to reduce the primary surplus for 2021... wants to introduce several tax cuts that would apply from the beginning of next year. “Of course, it depends on political decisions in the second half of this year, and in particular, as far as the 2020
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Fiscal targets and tax cuts on agenda as Staikouras meets Regling
PoliticsGreek Politics45 percent), and up to 60 percent tax cuts for self-employed workers on up to 10,000 euros a year... might have to water this down as the tax cuts will reduce next year’s fiscal space by another 2 billion euros. Kathimerini suggested on Sunday that this year’s ENFIA reduction, a 10 percent average
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