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Greece tops OECD countries for tax rises and spending cuts
EconomyFeaturesThe Organisation for Economic Cooperation and Development’s (OECD) latest report on tax policy... was a staggering 73 percent, followed by Italy at 59 percent. Overall, Greece’s unemployment rate in 2017... productivity, the OECD’s data showed that Greece’s average productivity between 1997-2006 was higher
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New overdue taxes rise by 377 mln in July, total stock above 102 bln for second month
EconomyMacroeconomyGreece’s new tax debt’s month-on-month rise came to 377 million in July, slowing from June’s rise.... July’s figure represents the highest increase in the year so far and is the highest month-on-month rise.... Tackling Greece’s growing pile of unpaid taxes continues to be a problem, compounded by the fact
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CPI rises by 1 pct in August, staying positive for fifth month
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) rose by 1 percent in August after a rise of 0.9 percent in July... in 2018 with negative readings of -0.2 percent in January and March, with January’s drop being... of price rises this year, and together with June’s reading represents the second this time year
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Industrial production grows by 1.9 pct in July for year's second highest rise
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) rose by 1.9 percent in July from June’s increase of 1.2... five positive months for the index, following two negative months at the start of this year. July’s reading is also the second highest for the year so far, after April’s rise of 2 percent. Last year
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Tsipras confident on pension cuts, reticent on snap elections
PoliticsGreek Politicsto be cancelled and expressed confidence that the lenders would eventually accept Greece’s position. “We have... with voters and would strengthen the opposition’s narrative about SYRIZA being responsible for more... the agreement before the end of the government’s term. Tsipras indicated over the weekend he believes
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Industrial turnover rises by 17.5 pct in July for seventh positive month
EconomyMacroeconomyGreece’s industrial turnover rose by 17.5 percent in July after June’s figure was revised upward... reading of December 2017. July’s reading is the second highest for the year so far after June. The 12-month trailing index grew by 8.5 percent. The month’s performance was led by an increase of 18
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Banks submit new NPL targets to SSM, with sales leading way in reduction drive
EconomyBankingGreece’s four systemic banks have submitted new Single Support Mechanism (SSM) guidelines on Friday...) of the year, Greece’s four systemic banks had met their NPL reduction targets. Excluding off-balance... of Greece’s banks to between 17 to 22 percent from 47.6 percent today. To achieve the reduction targets
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Falling bank shares prompt coalition to take closer look
PoliticsGreek Politics’s Single Supervisory Mechanism. It should be noted that there is no specific timeframe... and found the market conditions not to be favourable at this moment. “The plan’s aim is to strengthen the bank’s balance sheet and enhance its capital base. The bank has made significant progress on all
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CPI up by 1.1 pct in Sept for highest rise since Nov 2017
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) rose by 1.1 percent in September after an increase of 1 percent... was interrupted early in 2018 with negative readings of -0.2 percent in January and March, with January’s drop being the first negative reading since November 2016. September’s reading marks six straight months
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GDP revision for 2017 points to slight improvement from initial estimates
EconomyMacroeconomyGreece’s Statistical Authority (ELSTAT) issued on Wednesday the second estimate of the national... data, Greece’s economy in volume terms performed slightly better in 2017, growing by 1.5 percent..., significantly revised from March’s growth estimate of 11.3 percent, while imports growth was also
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