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Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
EconomyMacroeconomyreading was 5.4 percent in 2007. The increased use of cards continued during 2016 and its share... – 1.7 percent. Based on those estimates, the BoG concludes that the increased use of cards in Q3 2015... 2016, while the effective rate is estimated to have increased by 1 percentage point due
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Newsletter 205 -10/05/2019
. For the same time last year, the unemployment rate came to 20.6 percent. During the month, employment.... Achtsioglou said that the Labour Ministry estimates the scheme for unpaid contributions will lead... that will be implemented this year are estimated to cost 1.15 billion euros, around 800 million of which
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Greece braces for potential impact of coronavirus on key economic sectors
PoliticsGreek Politicsduring the trading day, before retreating slightly, while Italian yields also rallied intraday... Theocharis estimates based on industry sources that the cancellation rate of Chinese bookings... referenced his French counterpart, who estimated the drop in French tourism at 30-40 pct
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Tourism could give economy annual 5 bln boost, NBG report finds
EconomyFeaturesin internal demand which fell by 16 percent during the same period. According to the report, Greece has... uncertainty led online holidays to be discounted by 10 percent in 2016, rising to 16 percent during the peak... compared to 40 percent for rival destinations. NBG estimates that broadening the tourism season would
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BoG Monetary Policy Report positive on programme end but advises caution for future targets
EconomyBanking, with the stock as of March 2018 standing at 92.4 billion. During 2017, NPEs dropped by 11 billion, mostly on write offs (6.5 billion) and sales of loans (3.6 billion). During the first quarter of 2018 NPEs... and the commitment by the Eurogroup to reassess the debt matter in the future should growth estimates not materialise
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Increase of 11 pct in minimum wage to have knock-on effect in economy
EconomyAs was widely anticipated, during the cabinet meeting yesterday Alexis Tsipras announced... wage rise during the crisis era and as part of the agreement for the second adjustment programme... it, pushing lower the overall labour cost in the economy. The government estimates that about 600,000
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Regling underlines concerns about fiscal target after voter-friendly measures
EconomyProgrammenotes that during the programme Greece made significant progress in clearing arrears, reducing... the issuance of a 5 and a 10-year bond during the first quarter of 2019, approaching the Public Debt... up to cushion it in the post-programme period. The ESM estimates the total cash resources of Greece
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ND to unveil more economic support as coronavirus restrictions are extended
PoliticsGreek Politicsthe city for their ancestral villages during Easter. “If we continue to abide by the measures, we’ll... of not doing enough to support workers during this crisis. In a Facebook post on Sunday, opposition... Office (GAO) estimates that around 15 billion euros will be lost from Greek GDP this year. This means
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Creditors give thumbs up for 10th post-MoU review, underline pandemic legacy
EconomyProgrammeefforts, with disruptions in court proceedings and the overall ban on enforced measures during the first... on average in 2021 and 2022. On the fiscal front, the stance will continue to be accommodative during... that were published in the spring estimates, which see growth of more than 4 pct this year and 6 pct
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Govt intent on making some relief measures permanent
PoliticsGreek Politicsfor their “patience and perseverance” during the pandemic. According to ECDC data, 91.1 pct of this age group has... will instantly forget its failed policies, including the heavy-handedness of the police during... to the primary surplus estimates seen in the Medium-Term Fiscal Strategy dropping by roughly 1 percentage
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