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Govt mulls more tools against inflation as cost of living set to soar
PoliticsGreek PoliticsThe markets’ reaction to conflict in Ukraine has sent the government in search of additional policy tools to shield consumers from galloping inflation.
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Govt weighs up impact of Ukraine war on recovery, waits for decisions at EU level
PoliticsGreek PoliticsAs 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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Jan budget deficit confirmed at 15 mln, revenues 610 mln short and spending underexecuted
EconomyMacroeconomyThe 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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Greece voices support for Ukraine as govt counts cost of war's impact on economy, public finances
PoliticsGreek PoliticsPrime 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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Jan budget execution impacted by unplanned pandemic spending and snowstorm
EconomyMacroeconomyThe 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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PM pledges more support as he seeks to resist inflation, pandemic threats
PoliticsGreek PoliticsThe 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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Rising yields, market turbulence limit government's fiscal options
EconomyIt 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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Final budget data for 2021 affirms revenue overperformance, primary balance below 6 pct of GDP
EconomyMacroeconomyThe 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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Budget primary deficit improves by 7.2 bln YoY in 2021, beats target by nearly 2 bln
EconomyMacroeconomyThe 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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Nov budget data confirms tax revenue outperformance at 784 mln
EconomyMacroeconomyThe 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.