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Finance Ministry outlines plans for making savings, increasing revenues
EconomyProgrammeto around 1 billion euros a year and he anticipates this cost could be imminently trimmed by 20 percent. A large number of small tenders ultimately leads to large total expenditure, Mardas stressed... increase public revenues by 2 billion per year. The third intervention is more qualitative
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Greece sets out broad reform plan for lenders' approval
EconomyProgrammecome up with their own judgment. The list involves intervention in the following areas: 1) Fiscal..., public spending, social security reform, public administration and corruption. 2) Financial... account for more than half (56 percent) of total expenditure. The non-wage benefits will be reviewed
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Newsletter 17 - 27/02/2015
euros to the International Monetary Fund in March. Revenues falling almost 1 billion short... by 0.7 percent in 2014. In 2014, the Greek economy grew by 0.7 percent. 2 Turbulent months ahead Signs...’s 3.5 billion euros from the total of 7.2 billion in pending instalments. Schaeuble, meanwhile, has
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Unpaid taxes ease to 1.16 bln in Feb, collections progress at stable rate
EconomyMacroeconomyof February - up by almost 2 billion euros in the year to date. The Finance Ministry has officially estimated that from the total outstanding tax debt, which involves more than 3.5 million taxpayers... Varoufakis on April 1, the government anticipated that the additional revenues expected from
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ECB's negative opinion on foreclosure bill creates another obstacle in bailout talks
EconomyProgrammeone). Eligible debtors must also fulfil the following criteria: 1) Their annual income should not exceed 50,000 euros (from 35,000 previously). 2) The total value of movable and immovable assets must
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Greece makes new proposals in search for deal acceptable to lenders and MPs
PoliticsGreek Politicsoffer would still be short of the target of 1 percent put forward by lenders last week. For 2016... percent but short of the lenders’ preferred target of 2 percent. From what is known so far, Athens has.... Greece is also proposing that the profits from the total SMP holdings, which are estimated
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Industry turnover down by 2.3 pct in April for sixth straight fall
Economya double digit rise of 14 percent, yet it makes up just a fraction of the total turnover. Following April... by 2 percent. The breakdown of the April headline figure by region displayed mixed trends for yet...) and consumer durables (+1 percent). As in previous months, the performance of specific sectors displayed
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IMF urges substantial debt relief for Greece
EconomyProgrammeneeds of 25 billion euros on top of those mentioned in the preliminary DSA. This brings the total amount... estimates still remain subject to three marked downside risks related to: 1) Medium-term primary... period, according to the IMF. 2) Growth is still assumed to turn Greece from the lowest to among
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Record revenue shortfall of 2.83 bln in July shrinks primary surplus outperformance
EconomyMacroeconomyby 2.83 billion. This is mainly attributed to: 1) SMP and ANFA income of 1.46 billion that was not collected 2) Extension of submission of personal income tax (PIT) declarations that led to a delay... to 1.25 billion in July with the 7-month figure at 4.55 billion, 189 million above target. Overall, total
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July credit contraction at 1.5 pct, slowest since Aug 2011
EconomyMacroeconomy-negative reading since August 2011. The outstanding balances fell by more than 1 billion month on month... in the course of the year, while the cumulative net deductions in the 7-month period exceed 2 billion... in July from 78 million in June. Since the beginning of the year, total net deductions reached 1.55
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