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BoG report notes challenges to Greek economy, issues warning over high fiscal targets
EconomyThe Bank of Greece’s (BoG) annual report has outlined a number of challenges and proposals... was the fact that the BoG has revised its growth forecast for 2019 to 1.9 percent from 2.5 percent... a long period (3.5 percent of GDP per year by 2022 and 2.2 percent of GDP on average over the period
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Industrial production up by 2.3 pct in Feb
EconomyMacroeconomy) data revealed on Tuesday. The index has stayed positive for four consecutive months so far, after... percent after a drop of 2.2 percent in January. The annual movement in the index was driven largely... by 1.1 points month-on-month to stand and -2.3. Year-on-year, industry confidence has improved by 1
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Tourism responsible for up to 30.9 pct of GDP in 2018, study suggests
FeaturesA study by the Greek Tourism Confederation (INSETE) has indicated that tourism contributed between.... This equals a multiplier effect of 2.2. According to the IOBE multiplier, in 2018, tourism directly... also highlighted how the crisis has impacted domestic tourism. Using data from ELSTAT up to 2017
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VAT gap remains high as non-compliance overtakes revenue rise
EconomyFeaturesThe European Commission's VAT Gap report has revealed that tax revenues in Greece increased in 2017..., including revised figures for the years leading up to 2017. In Greece, VAT revenues rose by 2.2 percent... of VAT from 24 to 22 percent and from 13 to 11 percent by 2022. The VAT gap in Greece has remained
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Fourth review talks conclude with fiscal differences remaining
EconomyProgrammeentry rate to 9 from 22 percent. The Greek ministry has been arguing during the talks that the direct... conservative view, in line with the European Commission’s current estimate of 2.2 percent growth... with PPC and a plan that the ministry has in place to improve its finances and viability, will also require
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Athens buoyed by conclusion of budget talks but IMF lowers growth forecasts
EconomyMacroeconomyof the year from the additional surplus. Although Prime Minister Kyriakos Mitsotakis has indicated.... At the moment, 138 million euros has been set aside for businesses, which could receive... sees the Greek economy growing by 2 percent this year and 2.2 percent in 2020. In the previous WEO
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Retail turnover increases by 1.2 pct in August, volume edges up by 0.8 pct
EconomyMacroeconomyinto positive territory by 0.8 percent after a revised decline of 2.2 percent in July. The current... has turned positive three times in the first eight months of the year. Compared to August 2018.... Compared to October 2018, consumer confidence has shown a notable improvement of 25.7 points
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Unemployment edges down to 16.7 pct, lowest since April 2011
EconomyMacroeconomy2013, unemployment has shown a fall of 41 percent. The overall labour force came to 4.71 million... points (pps) year-on-year and came to 20.7 percent. This figure has been in decline since the high... aged 35-44, where unemployment fell by 2.2 pps. The employment rate for this age group stands
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IMF cool on growth, urges greater effort on bank, fiscal and labour reforms
EconomyProgrammefurther systemic solutions and a legal framework that will assist the clean-up process that has been... Greece should look into reducing non-wage costs as it notes that “labour has, relatively speaking... at the moment owes 6.7 billion SDR and the Greek authorities have kicked off the process of prepaying 2.2
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Despite differing views IMF and EC see no immediate debt sustainability concerns
EconomyProgrammeand averaging 2.2 percent after that. It also considers all of SMP and ANFA profits used for debt service... also attempts to incorporate the low interest rate environment for Greek debt that has manifested.... To capture this the EC has introduced an upside scenario that builds on top of the macro and fiscal
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