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Lenders acknowledge reforms, flag up tricky fiscal path ahead
EconomyProgrammeGreece managed to clear on Wednesday the fourth post-programme review for this year and the third since the pandemic broke.
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Insolvency bill debate brings implementation challenges to the fore
PoliticsGreek PoliticsA draft insolvency mega-bill is being debated in Parliament this week, following several months of drafting and a six-week consultation period.
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Draft budget sees EU funds fuelling recovery of 7.5 pct in 2021, after 8.2 contraction this year
EconomyMacroeconomyThe Finance Ministry tabled in Parliament on Monday the draft budget for 2021 in which the Greek authorities see a substantial recovery next year that will offset most of the losses suffered in 2020 due to the pandemic.
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Overdue social security contributions rise to 37 bln in Q2
EconomyMacroeconomyThe stock of unpaid social security contributions (SSCs) increased to 37 billion in the second quarter (Q2) of 2020, rising by 687 million compared to the figure of 36.32 billion euros registered in the first quarter (Q1) of 2020, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
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Greece draws strong interest, attractive yield by re-opening 10-year bond
EconomyGreece completed on Wednesday the fourth market foray of the year by reopening the 10-year GGB that it had issued in June, after a successful syndication earlier in the summer and a strong performance in the secondary market.
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Insolvency code, 'second chance' for debtors unveiled as ND eyes social impact of crisis
PoliticsGreek PoliticsThe government has unveiled the draft legislation that paves the way for Greece to adopt a new insolvency code and offer debtors a so-called “second chance” – a move that New Democracy hopes will stave off a major social impact resulting from the long economic crisis, as well as the knock-on effect of the more recent coronavirus pandemic.
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Central government debt increases by 1.04 bln to 362.87 bln in Q2
EconomyMacroeconomyGreece’s central government debt increased by 1.04 billion euros to 362.87 billion euros quarter-on-quarter (QoQ) in the second quarter (Q2) of 2020, from 361.83 billion euros in the previous quarter, the Finance Ministry's (MoF) debt bulletin showed on Wednesday.
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Fitch keeps rating at 'BB', sees GDP contraction of 7.9 pct in 2020
EconomyFitch re-affirmed Greece’s credit rating to ‘BB’ on Friday night, maintaining the stable outlook.
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Overdue social security contributions rise to 36.32 bln in Q1
EconomyMacroeconomyThe stock of unpaid social security contributions (SSCs) increased to 36.32 billion in the first quarter (Q1) of 2020 by 932 million compared to the figure of 35.38 billion euros registered in the fourth quarter (Q4) of 2019, the Centre for the Collection of Social Security Arrears (KEAO) revealed.
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New tax debt at 2.21 bln to Mar, up by 545 mln month-on-month
EconomyMacroeconomyThe month-on-month rise in Greece's new tax debt came to 545 million euros in March, data from the Independent Authority of Public Revenues (IAPR) has shown.