The execution of the state budget is improving each month that goes by, with official data for October released on Tuesday by the Finance Ministry showing a primary surplus of 930 million euros.
This means that the primary deficit for the first 10 months of the year has gone down to 1.1 billion euros, against a budget target for 2.2 billion. However, the smooth funding of social security funds remains a serious problem for the execution of the budget as some of them already drew by end-October almost the entire of their credit.
Although the budget targets have been revised and estimates over revenues adjusted downwards, in the January-to-October period revenues beat estimates by 500 million euros, amounting to 39.1 billion against an estimated 38.6 billion. This was due to reduced tax returns, September revenues that were cashed in in the first days of October due to a tax officers’ strike, the increase in tax revenues from interest on deposits, etc.
The European Commission has decided to tear up new rules on how restaurants should serve olive oil less than a week after unveiling them, following widespread ridicule and accusations of unw...
Ireland is an example of how Greece can overcome the ongoing debt crisis, Greek Prime Minister Antonis Samaras said Thursday after a meeting with his Irish counterpart Enda Kenny in Athens.
...
PAOK recovered some of the ground lost in the Super League playoffs by beating fellow Champions League-spot contender Asteras 2-1 at Tripoli on Wednesday, while PAS Giannina and Atromitos sh...
The league that in the last three years has produced the European basketball champion entered its playoffs on Tuesday and Wednesday with the first games of the quarterfinal round, with AGO R...
Far-right Golden Dawn has been catapulted onto center stage of Greek politics. That’s almost an achievement for the post-1974 political system that emerged from the collapse of a pathetic mi...
A growing number of European Union leaders and officials are now suggesting that next year will most probably see a significant write-down on Greek debt.
The country’s partners are clearly a...
