Tag Archives: Greek budget

Greek budget bottom-line outperformance narrowed to €2.2bn in June

According to MoF preliminary data (on a modified cash basis), Greek budget bottom-line outperformance (i.e. actual vs target) narrowed by €1bn m-o-m to €2.2bn in 6M’13 from €3.2bn in 5M, largely attributed to a widening of revenue shortfall. Better-than-targeted fiscal … Continue reading

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Greek budget bottom-line outperformed targets by €3.2bn in 5M’13

MoF preliminary data (on a modified cash basis) on Greek budget execution in 5M’13 depicted an almost stable bottom-line outperformance (i.e. actual minus target) with budget and primary balance beating 5-month target by €3.2bn compared to €3.3bn in 4M’13,  >€2.8bn … Continue reading

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Budget bottom-line outperformance further widened by €0.5bn m-o-m to €3.3bn in April

MoF preliminary data (on a modified cash basis) on Greek budget execution in April depicted a further widening of bottom-line outperformance (i.e. actual minus target) by c€0.5bn m-o-m with budget and primary balance beating 4-month target by €3.3bn compared to … Continue reading

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General government cash primary surplus at €967m in Q1’13 – Arrears dropped 8% m-o-m in March

MoF data show that general government (gg) primary cash balance recorded a surplus of €967m in Q1 ’13 from €2,382m in Q1’12 down 59.4% y-o-y. According to MoF, reported figure is on a non consolidated basis and consolidated primary balance … Continue reading

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Budget bottom-line final figures confirmed widening of outperformance in March

MoF final data (on a modified cash basis) on Greek budget execution in March depicted a widening of bottom-line outperformance (i.e. actual minus target) by c€1bn m-o-m with budget and primary balance beating 3-month target by >€2.83bn compared to €1.84bn … Continue reading

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IMF latest forecasts on Greek economy

In its latest edition of World Economic Outlook and Fiscal Monitor released on April 16, ‘13, IMF sees Greek GDP contracting 4.2% in 2013 and rebounding 0.6% in 2014, while unemployment rate is expected to rise from 24.2% in 2012 … Continue reading

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Budget bottom-line outperformance widened in March

MoF preliminary data (on a modified cash basis) on Greek budget execution in March depicted a widening of bottom-line outperformance (i.e. actual minus target) by €1bn m-o-m with budget and primary balance beating 3-month target by €2.8bn compared to €1.8bn … Continue reading

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General government cash primary surplus at €1,375m in 2M’13

MoF data show that general government (gg) primary cash balance recorded a surplus of €1,375m in 2M ’13 from €3,206m in 2M’12 down 57.1% y-o-y. According to MoF, reported figure is on a non consolidated basis and consolidated primary balance … Continue reading

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Greek budget bottom-line significantly beat targets in February

MoF final data (on a modified cash basis) on Greek budget execution in February depicted a  significant outperformance at bottom-line with budget and primary balance beating 2-month target by €1.84bn attributed to lower expenditure and higher PIB surplus as well … Continue reading

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Greek budget bottom-line significantly outperformed targets in February

MoF preliminary data (on a modified cash basis) on Greek budget execution in February depicted a  significant outperformance at bottom-line with budget and primary balance beating 2-month target by €1.8bn attributed to lower tax refunds and expenditure as well as … Continue reading

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General government cash surplus at €1.5bn in January ‘13

MoF data show that general government (gg) primary cash balance recorded a surplus of €1,784m in January ’13 from €2,474m in January ’12 down 27.9% y-o-y. According to MoF, reported figure is on a non consolidated basis and consolidated primary … Continue reading

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EC winter forecasts on Greek economy

According to EC winter forecasts released on February 22, carry over from 2012 as well as the ongoing fiscal consolidation are projected to result in a further reduction of GDP by 4.4% in 2013, after a 6.4% drop in 2012. … Continue reading

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Final data confirm positive surprise of January budget bottom-line

MoF final data (on a modified cash basis) on Greek budget execution confirmed preliminary figures released on February 11 showing a budget and primary surplus in January, despite the revenue shortfall which was more than offset by a better expenditure … Continue reading

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Greek budget bottom-line surprised on the upside in January

MoF preliminary data (on a modified cash basis) on Greek budget execution showed a budget and primary surplus in January, despite the leaked revenue shortfall last week predisposing a worse performance at bottom-line.

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Key highlights of Greece’s updated Medium Term Fiscal Strategy

MoF tabled to parliament on February 8 the updated Medium Term Fiscal Strategy (MTFS) for 2013-16, which is scheduled to be voted by February 18 and is a prerequisite for the approval and disbursement of the next aid tranche of … Continue reading

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General government primary cash surplus at €434m in 2012

MoF data show that general government primary cash balance recorded a surplus of €434m from deficit of €3,499m in 2011. According to MoF, reported figure is on a non consolidated basis and consolidated primary balance is expected to be smaller … Continue reading

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2012 budget and primary deficit narrowed 31.1% and 46.1% y-o-y beating targets

MoF final data (on a modified cash basis) on Greek budget execution depicted a worse performance in December compared to that in November and October, attributed to seasonal (PIB) and one-off effects (debt buyback) along with a top-line pressure and … Continue reading

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Greek 2012 budget primary deficit narrowed 42.7% y-o-y to €3.7bn

MoF preliminary data (on a modified cash basis) on Greek budget execution depicted a worse performance in December compared to that in November or October, attributed to seasonal (PIB) and one-off effects (debt buyback) along with a top-line pressure and … Continue reading

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Marginal improvement of general government primary balance in November

Latest MoF data show that general government cash deficit narrowed by 51.4% y-o-y to €9,656m in 11M’12 from €19,872m last year, with primary balance recording a surplus of €2,314m from deficit of €3,644m in 11M’11.

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All key budget items outperformed targets in November

MoF final data (on a modified cash basis) on Greek budget execution (released on December 24) depicted a softer performance in November compared to that of the previous month, yet all key budget items continued to outperform targets.

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