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The key points from lenders' proposals to Greece
EconomyProgrammeprimary surplus targets of 1 percent of GDP for 2015, 2 percent for 2016, 3 percent for 2017 and 3.5... that the VAT reform targets a revenue increase by 1 percent of GDP or 1.8 billion on an annual basis... to be effective as of July 1, compared to October 1 for the Greek government proposal. Other fiscal
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Multi-bill details how Greece aims to raise 1.6 bln from indirect taxes
EconomyMacroeconomymeasures yielding around 1 percent of GDP that completes the 3 percent of GDP in fiscal interventions... in the basic VAT rate, applied to the bulk of goods and services, from 23 to 24 percent as of June 1... in 11 islands will be abolished as of June 1. The excise tax on cigarettes, tobacco, beer and energy
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The Court of Audit's opinion on new pension cuts and its implications
Legalin combination with article 98(1)(d) of the Greek Constitution, according to which: “The Court of Audit... percent reduction of pensions to the extent that, pursuant to article 1 of the First Additional... the compatibility of the cut in question with the articles 2 (1), 5 (1) and 25 (1) of the Greek Constitution which
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How big is the gap separating Greece and the institutions?
EconomyProgrammefor 2016 (2.87 percent of GDP) that would result in a primary surplus of 1 percent of GDP for 2015... on revenues of 1 percent of GDP on an annual basis compared to the 0.74 percent proposed by the Greek... to this year since the new VAT rates will be effective from July 1. Apart from the total estimated
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This is what's in the legislation Greece has to approve by Wednesday night
EconomyProgrammepercent discount on VAT rates applied to islands will start from October 1 for islands with higher... 1, 2016. Tax measures The tax rate on insurance fees increases to 25 percent (from 20 percent... for higher income it increases. In specific, for annual income: 1) Between 12,000 and 20,000 euros
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Omnibus bill goes to Parliament as Greece seeks to unlock 2 bln sub-tranche
EconomyProgramme. The key measures included in the draft legislation are as follows: Pension 1) The statutory retirement age limits gradually increase as of August 19 until January 1, 2022. 2) The minimum pension amount will not be granted to those retiring after July 1, 2015, who have not reached the age of 67
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Q2 GDP rebounds 0.2 pct QoQ but shrinks 0.9 pct YoY amid consumption drop and investment rise
EconomyMacroeconomyof 0.9 percent year on year (YoY) in Q2 from a revised decrease of 1 percent in Q1. Today’s figure... a decline by 1 percent in Q1. The key positive contributor to the GDP evolution in Q2 is investments, which grew by 1 percent QoQ and by 7 percent YoY. In contrast, private consumption fell by 0.2 percent
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Newsletter 219 -13/09/2019
workers will be reduced from July 1 next year. Mitsotakis said the aim is to bring them down by 1... in those employed, bringing the total to 3.96 million. The number of long-term unemployed (over 1 year... in August, following a 1 percent rise in July. Greece’s Consumer Price Index (CPI) remained contracted
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Greek 2013 primary surplus confirmed at 1.5 bln euros
Economydebt, 1 billion to reduce state arrears and 500 million would be given as a “social dividend... the reduction of social security contributions by 3.9 percentage points (2.9 for employers and 1 for employees), which will be effective from July 1. The MoF insisted on Wednesday that it could still meet
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The key points from Greece's proposal to lenders
EconomyProgrammein 2016 (excluding VAT) incorporate: 1) Change of the VAT rates from the current level of 6.5, 13... will be implemented as of October 1. 2) Introduction of a reward point system for the registration of receipts...) will derive from land development. Social Security The key interventions involve: 1) Consolidation
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