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Stocks fall for fourth straight week amid lack of progress in talks with lenders
Economy1.2 percent. Next week, which includes a meeting of the International Monetary Fund’s executive... thereafter, with Friday’s turnover dipping to 26 million. Overall, the average daily turnover marginally... Bank said on Monday it has agreed with the Serbian MK group for the sale of Alpha’s entire stake (100
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General gov't primary cash surplus up to 5 bln in 2016, arrears fall by 1.1 bln in Dec
EconomyMacroeconomyGreece’s general government (gg) primary cash surplus increased by 1 billion euros to 5 billion... to 5.26 billion. Social benefits of 40.1 billion euros holds the lion’s share making up more than half... breakdown shows SSF arrears of 2.02 billion euros continue to hold the lion’s share, making up 44.6
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IMF far more pessimistic than eurozone on Greek debt, urges significant relief
EconomyProgrammein the long-run. This largely reflects Greece’s inability, according to the IMF, to be financed... by 2040 and further to 62 percent by 2060. The key assumptions of IMF’s baseline scenario include..., which converges to the IMF’s 1.5 percent only by 2040, a higher nominal GDP growth of 3.3 percent
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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgrammesheets and pervasive structural obstacles to investment and growth, the International Monetary Fund’s... Greece’s European partners, the IMF stresses. The report notes that the reform momentum has slowed... the government’s recent estimate of around 2 percent of GDP, which is expected to increase to 1.5 percent of GDP
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IMF examines how Greece accumulated large pile of unpaid taxes and contributions
EconomyProgrammeThe issue of Greece’s exceptionally high tax and social security debt is discussed... of it related to the largest social security fund (IKA). The latter’s SSC debt doubled between 2012–2015... remains very low at around 1 percent, while the lion’s share of SSC could be considered uncollectible
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Lenders make proposal to Athens but no immediate breakthrough expected
PoliticsGreek Politics-free threshold and cuts to existing pensions. In a statement issued after Friday’s meeting... finance minister noted that the February 20 Eurogroup would simply “take stock” of the review’s...’ proposal but reports suggested that in a speech to SYRIZA’s central committee on Saturday, Prime
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Greece near bottom of OECD rankings for spending on R&D
Societyfor Economic Cooperation and Development (OECD) – the latest date available – Greece’s R&D expenditure... spending in 2015. Greece’s per capita spend on R&D was $251.90, compared to an EU 15 average of $874.90 Greece’s share of government-financed R&D was also one of the highest recorded. At 52.7 percent
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Primary cash surplus down to 248 mln in Jan, including modest arrears repayment of 41 mln
EconomyMacroeconomyGreece’s central government primary cash surplus dropped by 138 million euros to 248 million... from last year’s figure of 287 million. The breakdown revealed that revenues posted a double-digit...’s figure. Expenditure, which also includes the mentioned above amount for repayment of arrears, rose
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Special ELSTAT report reveals dramatic changes in labour market since 1980s
EconomyMacroeconomythat the labour force increased by 283,100 after Greece’s accession to the eurozone in 2002... the 73-percent mark in 2014 and 2015. ELSTAT’s data also revealed that the share of those who have... than that for women (-6 percent). Men’s participation in the labour force dropped by 4 percent over
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Budget primary surplus at 1 bln in Jan as tax revenues outperform
EconomyMacroeconomypublished on Friday. Preliminary figures were released on February 14. This year’s figure beat the target...’s figure but 309 million better than target. Revenues Revenues (before tax refunds) rose by 10... also restated last year’s figure. In addition, from this year the MoF reports the public sector
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