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June primary cash surplus at 6.49 bln as revenue increase offsets higher expenditure
EconomyMacroeconomyGreece’s central government primary cash balance recorded a surplus of 6.49 billion euros... month last year, and came to 4.20 billion, an increase of almost 24 percent. The current month’s revenue... rose by 1.58 billion euros to 21.91 billion euros against last year’s total of 20.34 billion
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Industrial turnover rises by 11.4 pct in May, staying positive for fifth consecutive month
EconomyMacroeconomyGreece’s industrial turnover continued its positive streak this year with an increase of 11.4 percent in May after April’s figure was slightly revised down to 6.5 percent, Hellenic Statistical... the second highest increase this year after January’s reading of 13.4 percent. The 12-month trailing index
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Greece on track for bumper tourism year, figures show
EconomyFeaturesare expected to visit the country this year. Last year, the Bank of Greece’s (BoG) full-year figures... Tourism Confederation’s (SETE) latest statistical bulletin showed that in April of this year... million at the country’s main airport. Counting domestic passengers as well, the total increase came
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Sharp increase in May arrivals, particularly from Germany, delivers travel balance boost
EconomyMacroeconomyGreece’s travel balance rose sharply by 38.2 percent in May, recovering strongly from April’s... the lion’s share in spending, as receipts from German travellers rose by close to 88 percent to 411... visitors, meaning that according to the BoG, tourism figures for 2017 exceeded SETE’s estimates
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Deposits inflows in June reach 1.36 bln for fifth month of positive readings
EconomyMacroeconomythe conclusion of the third review and Greece’s anticipated exit from its adjustment programme in 2018... into the Greek banking system. June’s figure now stands as the highest monthly inflow for the year so far... to come to 143.84 billion. The BoG’s most recent monthly financial statement showed that Eurosystem
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PMI at 53.5 pts in July as optimism holds, export orders slow down
EconomyMacroeconomyGreece’s Manufacturing PMI remained unchanged at 53.5 points in July, staying over the 50-mark threshold for 14 straight months as confidence continues to strengthen. Greece’s manufacturing sector... remained strong in July. It was suggested by Greece’s manufacturers that a strong tourist season
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Coalition pledges to demolish illegal buildings following Mati fire
PoliticsGreek Politicsin Marathon, close to last Monday’s fire, despite the fact they were deemed to be operating illegally... that it is taking action following last week’s disaster, the government’s decision to announce... on the outskirts of Athens very closely with the high death toll in the Mati fire. One of the coalition’s
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CPI up by 0.9 pct in July to mark fourth consecutive rise
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) rose by 0.9 percent in July following an increase of 1 percent... early in 2018 with negative readings of -0.2 percent in January and March, with January’s drop... percent. Month-on-month, the CPI dropped by 1.8 percent compared to June’s figure due to the summer
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Growth conditions improving but more work needed over longer term, PBO suggests
EconomyMacroeconomyover the long-term sustainability of the country’s debt, as covered in the IMF’s debt sustainability... crisis. Revenues and debts A breakdown of the government’s revenues showed that state budget net... to last year’s figure of 22.18 billion. Meanwhile, expenditure rose by 2.1 percent to 24.28 billion
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Soldiers' return from Turkey provides Tsipras with timely boost
PoliticsGreek PoliticsAlexis Tsipras’s government received a much-needed boost ahead of the August 15 national holiday... by Defence Minister Panos Kammenos. Some of the government’s critics accused it of putting... on espionage charges. The Greek government’s interpretation is that two Greeks were let go as a result
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