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Newsletter 91 - 07/10/2016
, to meet their payment obligations. While the ENFIA and VAT collection rates reached 83 percent and 81..., mainly via higher tax rates on private households and corporate businesses. Most strikingly, the new WEF... and expanding tax rates to product and service categories creates disincentives to invest and work
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Greece's taxing challenges
Agoraobligations. While the ENFIA and VAT collection rates reached 83 percent and 81 percent last year... tax rates on private households and corporate businesses. Most strikingly, the new WEF report ranked... rates to product and service categories creates disincentives to invest and work in the formal economy
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Greece lags in basic skills for youth but improves in educational attainment
SocietyEarly school leaving and tertiary educational attainment rates in Greece improved significantly.... Employment rates in Greece for those who have recently left education vary strongly with the level... with the lowest level of qualifications. Nevertheless, overall unemployment rates are much higher
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Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
EconomyMacroeconomythe launch of more initiatives to widen further the use of cards as well as the lowering of VAT rates... of VAT rates since the third quarter (Q3) of 2015. VAT revenues increased at remarkable rates of 8.5... in VAT revenues is attributed to the positive impact of factors other than the tax base and VAT rates
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IMF far more pessimistic than eurozone on Greek debt, urges significant relief
EconomyProgrammein the markets at low rates replacing at the same time the existing official sector financing at very favourable interest rates. The Fund also stresses that even if additional debt relief is provided to Greece... programme and locking in the interest rates on EFSF and ESM loans below the 1.5-percent mark for 30
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IMF examines how Greece accumulated large pile of unpaid taxes and contributions
EconomyProgramme. Since then, tax collection rates (including fines and penalties) have been reduced from 75 percent... tax rates imposed on narrow bases. As an example the IMF notes that more than 50 percent of wage..., with longer instalments, lower interest rates and fewer eligibility requirements. As a result
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Greek demographic ratios among the worst in Europe
Societyin fertility rates between northern and western Europe and countries in the south and east... with a fertility rate of 1.96. Portugal, Spain, Italy, Cyprus and Greece currently have the lowest fertility rates.... “In countries with low fertility rates this process is happening more quickly and abruptly than
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BoG report highlights economic challenges, proposes way forward
Economy. The uncertainty over the long-term sustainability of Greek debt is reflected in borrowing rates... as domestic savings cannot match the investments needed for higher growth rates Strengthening of institutions independence and the rule of law as strong institutions lead to robust growth rates and higher
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Newsletter 238 -07/02/2020
, to 4.8 percent in 2020, 2.6 percent in 2021 and 2.2 percent in 2022. The long-term risk-free rates... between loan and deposit rates edged up slightly to 4.16 percentage points from 4.15 percentage points... to 3.98 percent. The spread between existing loan and deposit rates was almost unchanged at 3.78
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Lenders acknowledge reforms, flag up tricky fiscal path ahead
EconomyProgrammethat the baseline analysis is based on assumed favourable market conditions, large share of debt at low rates... higher financing rates and the combined effect of financing rates and lower growth, both of which push up gross financing needs to just under 20 pct for higher rates and above 20 pct of GDP from
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