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Negotiations between Greece and lenders: state of play ahead of Eurogroup meeting
EconomyProgrammeto be the contingency measures worth 2 percent of GDP the IMF is insisting they have to be detailed... reforms each yielding 1 percent of GDP. The key pending issue relates to the tax-free threshold... 70 million that has to be covered of the total targeted cost savings of 1.8 billion. The draft bill
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Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
EconomyMacroeconomybetter than target. According to the breakdown, salaries and pensions fell 1 percent in May and 2.6... are proportionally in line with the annual target, while the recorded underspend is mainly attributed to: 1... billion) 2) Social protection (at 259 million corresponding to just 17.9 percent of the annual target
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HFSF posts losses of 1.1 bln in H1 weighed down by valuation losses of bank holdings
EconomyBankingbillion, of which 1 billion relates to HFSF participation in the four systemic Greek banks. In specific, the market value of HFSF bank holdings fell by more than 1 billion in the course of the first... and Piraeus in late November 2015, which corresponded to one quarter of the total state aid of 5.43
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Industrial production rises at slightly faster pace of 2.2 pct in Dec
EconomyMacroeconomyrevised growth of 2 percent in November, Hellenic Statistical Authority (ELSTAT) data showed... of the total index. In addition, mining and quarrying production edged up 0.6 percent. On the flipside... supply production also declined by 1 percent. Only two of the five main industrial groupings posted
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With tax-free threshold set for change, income declarations underline need for rethink
EconomyProgramme-free threshold with the aim of securing additional revenues of 1 percent of GDP (1.8 billion euros...-employed have an annual income that exceeded the 9,000-euros mark in 2015. The breakdown for the total..., the personal income tax rate to 15-20 percent and the top VAT rate of 24 percent by 1 pp
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Newsletter 137 -27/10/2017
” this year. The government has previously suggested that the excess surplus would be around 1 billion euros and would be shared among 1 million households. Reports towards the end of the week... 378,000 of these came from the fund for the self-employed, OAEE. 2 Primary surplus of 4.54 bln
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EC upbeat on reforms paying off, as long as they continue
EconomyProgramme. To date, a total of 4.5 percent of fiscal measures have been legislated while the Greek... the International Monetary Fund’s participation, a post-programme fiscal package amounting to 2 percent of GDP...-free threshold closer to the European average. The package intends to deliver 1 percent of GDP savings
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Hydrocarbons add to tension between Turkey, Greece and Cyprus
PoliticsForeign Policyconducting military exercises close to Cyprus's Block 2 and 3 and has blocked the area using a NAVTEX... profits from the outcome of research conducted by foreign companies such as ENI, France’s Total... confirmed that it had made a lean gas discovery in Block 6 with Calypso 1 NFW. “An intensive and detailed
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Primary cash surplus at 7.72 bln in March on strong underspend
EconomyMacroeconomyeuros against last year’s total of 10.72 billion. Compared to the same time last year, expenditure... quarter of the year declined by over 1 billion euros and came to 11.91 billion. Discounting arrears.... The Public Investment Budget (PIB) balance surplus grew to 210 million from a very slight surplus of 1
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Newsletter 162 -18/05/2018
laid out for the coming years would be applied as initially intended, which means that the 1 percent... to pensioners just before the pension cuts take effect on January 1. According to Energy Minister... of the business plan by McKinsey which was still being put together. 2 Primary cash surplus at 7.45 bln
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