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Budget
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EconomyMacroeconomy
March budget primary balance short of target, but taxes continue to overperform The budget primary balance for the first three months of 2022 was confirmed at 1.65 billion euros, compared to a deficit of 13.4 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
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EconomyMacroeconomy
Primary budget deficit at 1.69 bln euros in Q1 as tax revenues continue to overperform The budget primary balance for the first three months of 2022 came to a deficit of 1.69 billion euros, compared to a deficit of 3.41 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.
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EconomyMacroeconomy
Greece's fiscal path becoming clearer; sizeable adjustment lies ahead After two years of fiscal relaxation across the eurozone thanks to the activation of the escape clause, allowing fiscal rules to be eased so governments could cushion the blow of the pandemic, Greece’s future fiscal path started to take shape over the last few days.
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PoliticsGreek Politics
Imminent end for enhanced surveillance offers boost to beleaguered govt Amid the incessant pressure it is facing on many fronts, led by the cost-of-living, budgetary constraints and the pandemic, there is a potential bright spot for the government in terms of a timely exit from the enhanced surveillance setup this summer.
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Economy
IMF urges caution on public finances The IMF concluded last week its latest Article IV consultation for Greece with the mission drawing attention to the fiscal policy commitments Greek authorities face from this year, while noting progress in some areas.
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PoliticsGreek Politics
Inflation triggers political machinations, move to increase budget spending The government is set to submit a supplementary budget that will allow it to increase spending by as much as 2 billion euros compared to the initial budget for 2022, underlining the pressure that New Democracy is under to find solutions to the cost-of-living crisis, not only to help households and businesses but also to stop the party’s slide in opinion polls.
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EconomyMacroeconomy
Feb budget primary surplus confirmed at 840 mln, as revenues overperform The budget primary balance for the first two months of 2022 was confirmed to be a surplus of 840 million euros, compared to a deficit of 1.5 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Monday.
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EconomyMacroeconomy
Central government reports 853-mln primary cash surplus in Feb as spending is contained YoY Greece’s central government recorded a primary cash surplus of 853 million euros in February, from a deficit of 891 million euros in the same month of 2021, according to figures released by the Bank of Greece on Thursday.
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EconomyMacroeconomy
Budget primary balance up to Feb beats target by 1.09 bln on back of underspend The budget primary balance for the first two months of 2022 came to a surplus of 847 million euros, compared to a deficit of 1.5 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.
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PoliticsGreek Politics
Enhanced support package on way to combat inflation, as govt awaits crucial nod from EU Details are emerging of the government’s plans for further economic support measures to cushion the effects of the war in Ukraine on inflation. With the cost set to balloon over the coming weeks, the stance adopted by the EU will be crucial in determining how far the Finance Ministry can go to counterbalance cost-of-living rises.