General government primary cash surplus at €967m

Greek Ministry of Finance announced that general government deficit, according to cash data, stood at €982m in 3M ’13 from €4,662m in 3M ‘12, down 78.9% y-o-y, with primary surplus at €967m down 59.4% y-o-y, incorporating: · state budget (i.e. central government) deficit of €2,638m (3M ’12: €6,197m) and primary deficit of €764m (3M’12: surplus…

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Fitch note on Greek Economy

In its latest comment on Greece (05/02/2013) Fitch noted that Greece has hit its fiscal target for 2012 and posted a minor primary surplus despite economic underperformance. The deficit reduction was achieved by a combination of larger than expected cuts in primary government expenditure and private and official sector debt relief. Fitch stressed that continued…

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Greece: Credit expansion remained negative in September in Greece – September ‘11

According to the latest data just released by BoG, total credit rose 0.2% m-o-m, yet eased 1.9% y-t-d and 2.2% y-o-y in September (Aug: -1.3% y-o-y) reaching €252.9bn, which corresponds to 113.9% of GDP from 107.7% at YE ‘09. Euroxx Research point out that deductions continued unabated across the board reaching €1,059m in September from €1,310m…

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