By Tasos Dasopoulos The delicate balance between fiscal adjustment and support of the real economy will determine the package of reliefs that will be announced from Thessaloniki by Prime Minister Kyriakos Mitsotakis, even though we are already going through the time in which we will have national elections. The Prime Minister on Tuesday, in his […]
Tag: deficit
The pros and cons of high inflation
By Tasos Dasopoulos The persistently high inflation that we have been experiencing for about a year, reaching 11.6% in July, has significantly reduced the purchasing power of our incomes and is squeezing GDP due to the increased value of imports of fuel and raw materials. However, it also has some, few, positive sides. It significantly […]
Moody’s: New US bill will reduce inflation and deficit over time
A sweeping bill passed by the US Senate on Sunday aimed at fighting climate change, lowering drug prices and raising some corporate taxes will reduce inflation in the medium to long term and reduce the deficit, the rating agency said. Moody’s to Reuters on Monday. The legislation, known as the Lower Inflation Act, however, will […]
USA: The budget deficit shrank to $89 billion in June
The U.S. federal government’s budget deficit shrank significantly in June, to about half of what it showed in the corresponding month last year, as spending related to the coronavirus pandemic was curbed while revenue rose. In particular, the US budget deficit stood at $89 billion against a deficit of $174 billion in June 2021, recording […]
Eurobank: Tourism is recovering, employment is resilient and credibility is boosted
The recent publications of indicators for the course of the Greek economy (current account balance April 2022, unemployment and employment rate April 2022, per capita GDP 2021) and the announcement of the Eurogroup on June 16, 2022 according to which enhanced supervision will not be extended beyond scheduled to expire on August 20, 2022, send […]
Fiscal flexibility with ‘German key’
By Tasos Dasopoulos Another headache for the financial staff and the effort to support the economy is brought by the activation of Germany in the EU fiscal course, with the intention expressed by the European Commission since March to extend the total escape clause in 2023. Germany agreed to extend the suspension of fiscal rules […]
BoG: Current account deficit increased in the first quarter
In the first quarter of 2022, the current account deficit increased compared to the same period in 2021, mainly due to the deterioration of the goods balance and, to a lesser extent, the primary and secondary income balances, which was to some extent covered by the increase of the services surplus, as announced today by […]
BoG: Deficit of 921 million in the primary result of the state budget
A deficit of 921 million euros showed the primary result of the state budget for the period January – April, compared to a deficit of 6.5 billion euros in the corresponding period last year, according to data released today by the Bank of Greece. At the same time, for the period January-April 2022, the cash […]
The second half is crucial for the economy
By Tasos Dasopoulos The course of the budget from June will judge the resilience of the economy for further support of businesses and households towards accuracy and at the same time the achievement of the fiscal targets of 2022. Despite the good implementation of the budget so far, with tax revenues recorded by an increase […]
Twenty days of critical decisions for the economy
By Tasos Dasopoulos About three months after the outbreak of the war in Ukraine, Europe will return to both the level of finance ministers and the level of leaders with the aim of making decisions on the 2023 fiscal rules and adopting a common stance on the energy crisis. On Monday, the European Commission is […]