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Athens preparing to present budget plans to lenders after tax cut pledges
EconomyProgrammeFinance Minister Christos Staikouras is preparing to provide his eurozone counterparts with more details on Friday about the government’s fiscal plans, as set out by Prime Minister Kyriakos Mitsotakis at the Thessaloniki Expo over the weekend.
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Brussels urges Athens to remain on reform path as fourth post-MoU review looms
EconomyProgrammeThe European Commission (EC) marked on Tuesday the first anniversary from the completion of Greece’s third adjustment programme - a 3-year adjustment effort with emphasis on structural reforms and provided loans of just short of 62 billion euros via the European Stability Mechanism (ESM).
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Athens hopes lower bond yields strengthen case for reducing fiscal targets
EconomyProgrammeThe Greek government is keeping high up on its agenda the matter of renegotiating lower fiscal targets with the institutions as New Democracy tries to build its case ahead of talks with the creditors in September.
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Finance Ministry faces balancing act as it starts to draft 2020 budget
EconomyProgrammeThe Finance Ministry is getting down to the business of drafting the first version of the 2020 budget, which will have to achieve the key economic goals pledged by New Democracy but also satisfy Greece’s lenders.
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New Democracy tax pledges put spotlight on available fiscal space
EconomyProgrammeFollowing the announcement by Prime Minister Kyriakos Mitsotakis on Saturday of immediate tax cuts, with others to follow, focus is turning to the government’s ability to find the fiscal space necessary to implement the measures while also meeting the primary surplus target for this year and 2020.
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New government holds first talks with creditors, may opt for cautious fiscal approach
EconomyProgrammeGreek government officials held introductory talks with the representatives of the institutions on Thursday as New Democracy fleshes out its plans to address key economic issues.
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Lenders urge new government to meet fiscal targets as Athens issues 7-year bond
EconomyProgrammeJust a few days after coming to office, the new government is aiming to take advantage of the positive sentiment in the markets by tapping investors with a 7-year bond.
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Eurogroup emphasises limited room for discussion on fiscal targets
EconomyProgrammeThe first Eurogroup meeting after the election of a new government in Greece left New Democracy in no doubt that it faces a real challenge in trying to convince the institutions that the primary surplus for the coming years should be lowered.
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Eurozone set to give next govt until Sept to address fiscal issues
EconomyProgrammeThe new Greek government formed after the July 7 elections is unlikely to have to face probing questions about its plans and this year’s fiscal targets from its eurozone counterparts until September.
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EC warns budget not on track due to handouts, advises against further underspend
EconomyProgrammeGreece’s official creditors have recently expressed at various levels their concerns about whether the country will be able to meet its fiscal commitments after adopting a new batch of expansionary measures last month, so it was no surprise that this issue was explored extensively in the latest post-programme surveillance report published by the European Commission.