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Budget
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PoliticsGreek Politics
Govt weighs up impact of Ukraine war on recovery, waits for decisions at EU level As well as making a landmark foreign policy move over the weekend by deciding to supply Ukraine with arms following the Russian invasion, the Greek government has been mulling the economic impact of the war.
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EconomyMacroeconomy
Jan budget deficit confirmed at 15 mln, revenues 610 mln short and spending underexecuted The budget primary balance for the first month of 2022 came to a small surplus of 15 million euros, compared to a deficit of 1.47 billion euros in the same month last year, according to the final Finance Ministry (MoF) budget execution data released on Friday.
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PoliticsGreek Politics
Greece voices support for Ukraine as govt counts cost of war's impact on economy, public finances Prime Minister Kyriakos Mitsotakis has made it clear that politically his government will stand with the European Union and NATO over Russia’s invasion of Ukraine as his ministers scramble to find ways of mitigating the economic impact of the war.
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EconomyMacroeconomy
Jan budget execution impacted by unplanned pandemic spending and snowstorm The budget primary balance for the first month of 2022 came to a small surplus of 17 million euros, compared to a deficit of 1.47 billion euros in the same month last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.
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PoliticsGreek Politics
PM pledges more support as he seeks to resist inflation, pandemic threats The government is searching for a way to break out of the corner in which inflation and its own missteps have placed it, with the drive being led by Prime Minister Kyriakos Mitsotakis who promised more financial support for consumers as well as further tax cuts over the weekend.
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Economy
Rising yields, market turbulence limit government's fiscal options It seems that the Finance Ministry toying with the idea of countering inflation by reducing VAT and special consumption taxes on fuel and basic goods only lasted about a week, partly due to developments on the bond market, which have been exacerbated by the ECB signalling last Thursday that it is set to tighten monetary policy this year.
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EconomyMacroeconomy Final budget data for 2021 affirms revenue overperformance, primary balance below 6 pct of GDP The budget primary balance for the full year landed at a deficit of 10.33 billion euros in 2021, compared to a deficit of 18.2 billion in 2020, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
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EconomyMacroeconomy
Budget primary deficit improves by 7.2 bln YoY in 2021, beats target by nearly 2 bln The budget primary balance for the full year landed at a deficit of 10.99 billion euros in 2021, compared to a deficit of 18.2 billion in 2020, according to the preliminary Finance Ministry (MoF) budget execution data released on Monday.
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EconomyMacroeconomy
Nov budget data confirms tax revenue outperformance at 784 mln The budget primary balance recorded a deficit of 7.88 billion euros up to November 2021, compared with a deficit of 13.75 billion in the same period last year, the final Finance Ministry (MoF) budget execution data showed on Monday.
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EconomyMacroeconomy
Buoyed by improved tax revenues, budget deficit comfortably beats target at 7.88 bln in Nov The budget primary balance for the eleven months of the year landed at a deficit of 7.88 billion euros, compared with a deficit of 13.47 billion in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Wednesday.