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Budget
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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.
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PoliticsGreek Politics
Govt readies additional inflation relief package, draws up new budget The government is set to announce later this week the enhanced package of relief measures aimed at cushioning the impact of the war in Ukraine on Greek businesses and households but also insulating New Democracy from potential voter dissatisfaction.
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PoliticsGreek Politics
Hopes of EU providing immediate relief wane as economic challenges multiply The first day of the EU leaders’ summit in Versailles on Thursday did not produce particularly encouraging developments for the Greek government, which is hoping that Europe will step in to provide solutions on the fiscal front as the energy crisis and runaway inflation fuel political concern.
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PoliticsGreek Politics
Govt weighs escalating impact of Ukraine war on public finances The government is racing to keep up with estimates of the impact of war in Ukraine on the budget, as another week of hostilities has sent the prices of energy and basic goods soaring and businesses warn of more price hikes on the way.
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PoliticsGreek Politics
Govt mulls more tools against inflation as cost of living set to soar The markets’ reaction to conflict in Ukraine has sent the government in search of additional policy tools to shield consumers from galloping inflation.