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European Commission review of Greek programme: The key points
EconomyProgramme. The turnaround in 2014 following a recession of 25 percent in the last 5 years is mainly supported... of GDP from 1.8 percent in July 2013. This improvement mainly reflects the 2013 over-performance... funds. The projections for 2016-17 are inherently uncertain, according to the EC, and mainly
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Greek PMI falls to 49.4 in June, lowest since November 2013
EconomyMacroeconomyin the output at Greek firms was the slowest over the past three months mainly due to a slight dip... the output growth was sustained in June mainly through progress on outstanding business, the rate of drop... activity is mainly related to increased production requirements. Inventories of output continued
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As imports rise, Greek C/A balance flips back to deficit in May
EconomyMacroeconomyreflecting higher surplus of “other services,” mainly attributed to construction services. The travel services’ surplus grew by 3.4 percent to 898 million euros, mainly due to a rise in non-residents... in the 5-month services surplus is mainly attributed to higher net transport receipts and - to a lesser
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Increased revenues push Greek budget primary surplus up to 2.28 bln at end of July
EconomyMacroeconomyhigh of 4.71 billion in January. The strong revenue rebound is mainly attributed to the payment.... The 7-month budget balance figure beat its target by 1.63 billion euros. The outperformance mainly..., outperforming target by 880 million. Cost containment in July mainly reflects reduced grants to social
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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBanking. The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset... but fell 2.1 percent year on year (YoY) in H1, mainly due to a drop in personnel cost by 8.8 percent.... Deposits increased by 0.5 percent YoY and 0.9 percent QoQ to 42.21 billion, mainly due to increased
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National Bank reports 1.15 bln H1 profit on back of 1 bln deferred tax
EconomyBanking. The latter mainly reflects higher deposit NII on improving time deposit spread more than offset.... The yearly drop mainly stems from a double-digit decrease in personnel expenses (down 16 percent), while..., mainly due to the implementation of a voluntary retirement scheme in Q4 2013. Cost containment
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Q2 GDP contraction at 0.3 pct, strong Q3 needed to achieve target of annual growth
EconomyMacroeconomy. In addition, under the portfolio investment a net inflow of 4.6 billion was recorded, mainly... in exports of services, at a double-digit rate for the second straight quarter, is mainly attributed... showed they increased by 13.4 percent to 3.94 billion mainly reflecting a 15.6 percent rise
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Here's what's in the 2015 draft budget the Greek government has just unveiled
EconomyMacroeconomytarget. These mainly involve: the improved performance of non-tax revenues in 2014, operational cost.... Salaries and pensions are seen at 18.69 billion euros, up by 615 million compared to MTFS, mainly... grants are expected to be lower by 173 million compared to MTFS to 13.93 billion, mainly due to lower
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Alpha Bank nine-month profits at 110.3 mln, NPL ratio at 33.6 pct
EconomyBankingin Q2. The QoQ improvement mainly reflects increased net interest income (NII). Higher NII, up 2.3... 1.3 percent QoQ to 325.3 million euros. However, the reported figure jumped to 526 million, mainly... billion euros in Q3, mainly reflecting 0.4 billion of net loans from Citibank. Deposits rose by 1.3
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Greek current account deficit widens by 32.4 pct in November despite services surplus
EconomyMacroeconomyyear, according to the Bank of Greece (BoG). The higher C/A deficit is mainly attributed to a negative... to that of imports (+1.5 percent). The widening of the services surplus by 20 percent is mainly due to soaring... year. This corresponds to a widening of the C/A surplus by 1.19 billion euros, which is mainly
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