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Newsletter 245 -27/03/2020
Staikouras, admitted that Greece is on course for an economic contraction of 1 to 3 pct this year due... as micro-businesses and self-employment in total employment,” according to Scope’s analysts... GDP in 2018. 2 Credit contraction at 0.7 pct in Feb Balance reaches 153.74 billion Credit
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ND hopes economy will pick up as second stage of lockdown easing begins
PoliticsGreek Politicsin March. According to the government, this means 155,962 employees, or 22.5 pct of the total who... the first two stages of relaxing the lockdown, a total of 225,000 workers and 93,000 businesses will have... up to 2 pct of its GDP before the end of 2022, which for Greece means roughly 3.8 billion euros
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New bid to curb Covid-19 raises demand for more economic support
PoliticsGreek Politicsexperts predict that the daily total could reach more than 3,000 next week. The pressure... of next week. According to sources, there will be a package with a fiscal cost of 1 billion euros... and TEPIX II. In the draft budget, the Finance Ministry puts the total fiscal impact of the support
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Updated IMF DSA sees Greek debt as sustainable in medium-term, risks over long-term
EconomyMacroeconomythat could throw the baseline scenario off track. Of the total stock of 339 billion euros at the end.... Of the private debt, GGBs were just 13 pct of the total. This is one of the factors that speaks to the great... pct in 2022. After that, they return to the IMF’s long-term real GDP growth estimate of 1 pct
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Retail sales drop by 8.6% in 2020 as e-shops prosper but many sectors suffer
EconomyMacroeconomy, a region that represents 67 pct of total nationwide sales. However, the pain is also shared by Finance.... This situation has forced the authorities to earmark most of the total annual support budget of 7.5 billion... own estimates closer to 2 pct and a stronger rebound in 2022. Given these challenges, it is little
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Spurred by rising employment, Q2 unemployment drops to 10-year low of 15.8 pct
EconomyMacroeconomyunemployed (over 1 year) came to 447,200 people, representing 61 percent of the total unemployed... of their remuneration. A total of 732,544 were registered as unemployed in Q2, dropping by 1.7... million, dropping by 8.1 percent compared with the previous quarter and by 2 percent compared
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Draft 2022 budget represents first attempt to restore post-pandemic fiscal order
EconomyMacroeconomyto an all-time high of 205.6 pct last year and 197.9 pct in the end of 2021. The total deficit in 2020... is seen posting a remarkable recovery to 1.66 billion euros, close to 1 pct of GDP. This is an improvement of nearly 12 billion euros. The total deficit will drop to 6.76 billion euros, down to 3.6
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IMF maintains cautious view on public finances, sees debt declining slowly
EconomyMacroeconomya 10.5 pct total deficit last year. In the coming years, the deficit is expected to drop to 4.3 pct... turning into a small surplus of 0.2 pct in 2023, 0.6 pct in 2024, 1 pct in 2025 and 1.5 pct of GDP... climbing to 2 pct of GDP in 2023, 2.8 pct in 2024 and 3.7 pct of GDP in 2025. The Greek authorities see
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Bumper results for banks add to frustration over interest rates, fees
EconomyBanking, with strong profitability and building on last year’s performance that allowed them to distribute total.... This was a jump that ranged from 40 to 65 pct year-on-year. In H1, total NII topped 4 billion euros, indicating... pct in August last year. In the eurozone, the average spread does not exceed 2 pct. Greek banks
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Debt position a bulwark against global turbulence
EconomyMacroeconomyof the US 10-year Treasury has increased by 1 percentage point since October, currently standing at 4.7..., with the German Bund at 2.6 pct, from roughly 2 pct at the start of December and the French 10-year benchmark... the yield curve and their small size poses limited risks. Greece’s total funding needs for the year
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