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  1. Greece on way to 2013 primary surplus as budget outperformed targets by 3.85bn euros to August

    Economy

    percent yoy. August over-performance mainly reflects higher than expected property taxes. Primary... compared to last year (mainly reflecting last year’s PSI), resulted in a higher cut of total... revenues - mainly income and real estate property taxes - backloaded in H2’13 with modest optimism created

    2%

  2. Trade deficit to July eased by 17.4 pct to 11.2 billion euros

    EconomyMacroeconomy

    to 3.12 billion. Both balances mainly incorporate a large movement in oil products, with the adjusted... in the trade deficit by 23.6 percent to 9.8 billion, mainly due to a decline in the net oil import... revenues and an improvement in the current transfers surplus mainly owed to the SMP income as well

    2%

  3. What is the state of play with Greek banks?

    Economy

    and 420 million respectively) and other cost-containment initiatives mainly including implementation... at 33.5 percent for Alpha and Piraeus (mainly reflecting recent acquisitions) and at 25.4 percent... NPL and troubled assets review. The disposal of non-core assets mainly involves National, which has

    2%

  4. October budget revenues beat target by 24% but gg arrears reach 2.47 bln in 2013

    EconomyMacroeconomy

    month on month (mom) at 6.63 billion mainly reflecting an increase in tax refunds by 234 million... to a cash correction of 5.1 billion mainly stemming from settlement of arrears and tax refunds. Therefore... of arrears by 2.22 billion since the end of last year mainly reflects repayments of 4.69 billion over

    2%

  5. Revenues at 4.77 bln in Oct, beating target for fourth straight month

    Economy

    , mainly owing to higher revenues more than offsetting a hike in interest payments and Public Investment... reflecting a high base effect. On the contrary, wealth taxes (mainly the real estate property levy... drop of interest payments by 50.1 percent compared to last year (mainly reflecting a positive

    2%

  6. C/A balance positive by 1.4 bln to Nov, 2013 surplus in sight

    EconomyMacroeconomy

    on year (yoy) drop mainly reflects an improvement in the current transfers balance by 298 million.... The recorded C/A balance improvement during the eleven-month period of this year mainly stems from: a) drop... surplus by 175 percent to 3.87 billion euros, mainly owed to higher general government net transfer

    2%

  7. C/A surplus of 0.7 pct of GDP in 2013 is Greece's first for decades
    Photo by Harry van Versendaal

    EconomyMacroeconomy

    , mainly reflecting SMP income of 534 million and an increase in the services surplus by 169 million, which..., mainly owed to higher general government net transfer receipts from the EU, also including the SMP... by non-residents of 14.9 percent to 11.99 billion, mainly stemming from a 15.5-percent rise in non

    2%

  8. General gov't cash surplus widened to 2 bln in January

    EconomyMacroeconomy

    mainly due to repayments the stock of arrears resumed an upward trend in January. Total state.... In contrast, tax refunds’ arrears dropped by 66 million in January, mainly reflecting increased payments... billion in 2013 mainly reflecting payments of previous year’s arrears of 6 billion. Our understanding

    2%

  9. Greek current account deficit rises to 709 mln in February

    EconomyMacroeconomy

    to the Bank of Greece (BoG). The moderate rise by 25 million euros year on year (YoY) mainly... in the surpluses of the services and current transfers’ accounts. The increased trade deficit mainly stems... in the 2-month period. The positive flow mainly concerns an inflow of 146 million related to Fairfax

    2%

  10. Greek primary surplus at 1.5 bln in Q1, aided by PIB and social underspend

    Economy

    in the first quarter of 2014 outperformed its target by 641 million mainly due to the exceptionally strong... categories, corporate income tax fell short of the target by 87.5 percent mainly due to an extension... expenses are mainly owed to a cut in grants to the social security sector by 27 percent or 1

    2%