By Tasos Dasopoulos High growth rates and the continuation of the tax reduction agenda will be included in the revised Stability and Growth Plan 2022-2025 to be sent by the Ministry of Finance to Brussels by the end of the week. According to information, the only scenario that will include the Greek plan will predict […]
Tag: Debt
Germany will borrow an additional 40 billion euros this year because of the war
Germany will increase its borrowing by almost 40 billion euros this year to mitigate the effects of the war in Ukraine, raising the net new debt of the year to almost 140 billion euros, according to three sources familiar with the matter cited by Bloomberg . The adjustment was deemed necessary to fund a series […]
Significant reduction of debt and deficit in 2021 due to overperformance of the economy
By Tasos Dasopoulos ELSTAT records a decrease of 2% of GDP in the primary deficit and by 3.8% of GDP in relation to the Budget forecasts for 2021 for the budget closure of the previous year as a result of over-performance of the economy. Specifically, the primary deficit reached 5% of GDP compared to 7% […]
IMF for Greece: Return to primary surpluses from 2023
By Tasos Dasopoulos The IMF forecasts a primary surplus of 1.1% of GDP for 2023, which will increase to 2% of GDP in 2027, and a significant de-escalation of debt, for Greece, in its report on the fiscal outlook of its member states ( Fiscal Monitor). In its forecasts, the Fund sees the primary deficit […]
Athens’ proposal for changes to the Stability Pact
By Tasos Dasopoulos The total deletion of the debt and deficit fiscal rules as they apply today is the basis for the new modern fiscal rules, which will be discussed in May, once France has a new government. Greece has adapted to its points its proposal for the reform of the Stability and Growth Pact, […]
Stability Program: Return to strong growth in 2023
By Tasos Dasopoulos The overcoming of the current energy crisis, with acceleration of growth from 2023 and significant fiscal adjustment, will be described in the revised Stability Program 2022-2025, which is being intensively prepared by the Ministry of Finance. According to information, the basic scenario for the economy wants the growth rate to slow to […]
Klaus Regling: Greek debt is sustainable
The course of the Greek debt and the peculiarities that make it sustainable were analyzed at the 7th Delphi Economic Forum, which takes place in Delphi on April 6-9 and is under the auspices of SA. of the President of the Republic, Mrs. Katerina Sakellaropoulou. “Greek debt is sustainable. Its structure is better than other […]
Regling: Debt sustainability should be key goal of new fiscal rules
The post-pandemic fiscal rules should be simpler and reflect the changes that have taken place in the macroeconomic environment, said ESM chief Klaus Regling. Speaking at the 7th Delphi Economic Forum, Mr Regling said the main goal should be to ensure debt sustainability, although he added that “there are other goals we want to achieve”, […]
Moody’s: The effects on Greece of the war in Ukraine
Her Eleftherias Kourtali The Greek economy entered 2022 with very strong dynamics and the high frequency and climate indicators indicate a continuous recovery before the Russian invasion of Ukraine, as Moody’s points out in its annual analysis of Greece’s credit profile. The military conflict has caused a sharp rise in commodity prices, which could be […]
The United States no longer allows Russia to repay its debt in dollars
The US Treasury Department said in a press release that it no longer allows any payments in dollars from Russian government accounts to US financial institutions to service Russia’s public debt since Monday, a Reuters report confirmed. about. This means that the payment of interest arrears on Russian government bonds denominated in US currency is […]