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Budget surplus beats July target on lower investment spending as tax refunds fall short
EconomyMacroeconomyMinistry (MoF) on Tuesday. Last year’s figure for the same period was 3.02 billion. The primary surplus up..., above target by 354 million euros. The budget balance up to July this year recorded a deficit of 1.56... by 757 million. Overall, the PIB balance posted a surplus of 104 million up to July, versus a target
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Travel balance increases by 16 pct in June and 19.5 pct in first half of year
EconomyMacroeconomyexpenditure per trip edged up by 0.6 percent to 498 euros compared to 495 euros for the same period... that tourist numbers could reach up to 30 million, but warns that this might be the last year of continued growth in numbers and revenue for Greece as competition picks up in neighbouring destinations.
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Greek banks push for return to normality
EconomyBankingis fully subtracted. It was confirmed in the run up to Greece’s programme exit that the country’s... programme is already winding down with net purchases currently at 30 billion euros up to September...) in September, Greek banks will step up portfolio sale activity and other NPL reduction methods, reducing
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Alpha Bank makes loss of 52.9 mln in Q2, reaching profit of 12.3 mln in H1
EconomyBankingmillion euros in H1. Fee and commission income edged up by 0.3 percent QoQ to 84.6 million euros... Equity Tier 1 (CET1) ratio stood at 18.5 percent, up slightly from the previous quarter’s figure... profile also improved as deposit inflows picked up, with ELA reliance now close to being eliminated
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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBanking(-5.6 billion euros) and NPE sales (-2.4 billion euros). Piraeus Bank has been stepping up efforts... last year, up by 7 percent. In H1, recurring operating expenses showed a decline of 4 percent..., falling by 13 percent year-on-year. Domestic customer deposits edged up by around 500 million QoQ
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General govt primary cash surplus at 2.82 bln in July, arrears unchanged
EconomyMacroeconomygovernments (+21 million euros). At 31.3 percent, arrears of SSFs made up the majority of overall arrears... is the largest since July 2017. Repos increased by 28 million to 23.48 billion, making up just under... make up 27.5 percent of the total guarantees. Bank support remained unchanged between June and July
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SYRIZA and ND go head-to-head over promises to lighten tax burden
PoliticsGreek Politicswith their pledges is heating up. Mitsotakis visited Thessaloniki on Thursday and held meetings... a conservative government drums up greater investment. He said that if the economy experiences such a boost, he... underlined that he has no intention of allowing any let-up in the pressure on Tsipras ahead of the name deal
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Fiscal matters expected to dominate talks as lenders return for post-MoU check
EconomyProgrammeon Tuesday. The whole visit is due to be wrapped up by Friday. As part of its post-MoU framework, it has... high up on the agenda. The discussion regarding this year’s fiscal data and next year’s budget... few days are likely to focus on where this year’s primary surplus will end up. Athens appears
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Lenders appear at ease with Tsipras pledges, cautious on pension cuts
EconomyProgrammeeuros in backpay. He also announced a rent subsidy scheme for up to 300,000 families, the reduction of the ENFIA property tax by up to 30 percent over two years, a decrease in social security... and prospects of Greece’s public finances and economy, hoping that the figures will help back up its argument
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Car sales rise by 36.8 pct in August with aggregate increase at 28.1 pct
EconomyMacroeconomyRoad motor vehicles going into circulation for the first time rose by 36.8 percent in August, up.... The remainder was made up of motorcycles (3,112), lorries (1,699), and buses (99). Passenger cars accounted... 122,020. In the first seven months of the year, the remaining sales were made up of motorcycles
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