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Budget
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EconomyMacroeconomy
Fiscal data for 2023 indicates that 2.1 pct of GDP goal is within reach In the context of the first Excessive Deficit Procedure (EDP) notification of 2024, the fiscal data for the 2020-2023 period was released by ELSTAT on Monday. The figures contained encouraging signals for the Greek authorities as the fiscal framework becomes tighter and Greece aims to achieve large primary surpluses in the coming period.
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Economy
S&P ups outlook to positive, leaves rating at 'BBB-' S&P published the latest credit rating review for Greece, where the rating was left unchanged at ‘BBB-‘, while the outlook was upgraded from stable to positive. S&P had granted the investment grade to GGBs in October last year, followed by Fitch in December.
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EconomyMacroeconomy
Government tones down fiscal pledges as tighter framework starts to bite The tight fiscal framework imposed by the new Stability and Growth Pact rules and Greece's long-standing commitment to primary surpluses above 2 pct of GDP for decades are catching up with the Greek government, as the window that allowed for handouts and support initiatives thanks to the escape clause is now firmly closed.
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EconomyMacroeconomy
Budget outperforms in Mar, delivers 2.95 bln primary surplus thanks to strong tax collection The budget primary balance recorded a surplus of 2.95 billion euros in March, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Monday.
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EconomyMacroeconomy
BoG sees 2024 growth at 2.3 pct, cautions against complacency due to risks Ahead of the general meeting of its shareholders, the Bank of Greece released on Monday the annual governor’s report for 2023 in which it sees progress on several fronts, notably securing the investment grade for GGBs.
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EconomyMacroeconomy
Income tax and VAT revenues drive budget primary surplus to 3.38 bln in Feb The budget primary balance was confirmed at a surplus of 3.38 billion euros in February, compared to a surplus of 4.22 billion euros in the same month of 2023, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
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EconomyMacroeconomy
Budget continued to outperform in Feb, delivering 3.4 bln primary surplus The budget primary balance recorded a surplus of 3.4 billion euros in February, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Friday.
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EconomyMacroeconomy
Budget starts new year on track, timing factors lead to 1.16 bln outperformance The budget primary balance was confirmed at a surplus of 2.28 billion euros in the opening month of 2024, compared to a surplus of 2.77 billion euros in the same month of 2023, according to the final Finance Ministry (MoF) budget execution data released on Monday.
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EconomyMacroeconomy
Strong start to budget execution in 2024 as Jan brings 2.12 bln primary surplus The budget primary balance started the new year strongly with a surplus of 2.12 billion euros in January, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Thursday.
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EconomyMacroeconomy Primary surplus lands at 3.92 bln in 2023 thanks to significant underspend and RRF funds The budget primary balance in December was confirmed at a surplus of 3.92 billion euros, compared to a deficit of 6.65 billion euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Thursday.