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Tag Archives: GDP

All bitcoins combined worth more than Greece & New Zealand

Bitcoin’s unprecedented rally has boosted the cryptocurrency’s market cap to almost $200 billion. That is more than the annual output of entire economies such as Greece and New Zealand. Views on bitcoin are broadly divided with some investors worried over the bubble nature of the phenomena, while others see it …

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EU closes Excessive Deficit Procedure for Greece as finances stabilized

Following a recommendation by the European Commission, the Council of the European Union decided to close the excessive deficit procedure for Greece. It confirms that the  country’s deficit is now below 3% of GDP, the EU’s reference value for government deficits. Official statement On 25 September 2017, the Council repealed its …

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Greece’s shadow economy is 21.5% of GDP, says German IAW

Some countries have much larger shadow or unofficial economies than others. Greece’s shadow economy is worth over a fifth of its total output, and Italy’s isn’t far behind, says a research by German IAW. However, the chart refers only to selected industrialized countries. And Germany is not doing much better… …

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ELSTAT suspends quarterly flash estimates on GDP; media speculate

Greece’s statistics service ELSTAT has suspended until further notice the release of flash quarterly estimates on the country’s gross domestic product because of divergences with provisional estimates, a statement issued by ELSTAT said on Monday. The move means that flash data will not be issued on Aug. 14. Nationwide quarterly …

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ELSTAT: Greece’s GDP shrunk by 26% since 2010, public debt surged

Greece’s GDP shrunk by 61.6 billion euros (26 percent) since 2010, the time span when three bailout memorandums with institutional creditors were signed and implemented, figures showed this week. Additionally, general government revenues decreased by five billion euros, with public sector wages, pensions and welfare benefits cut by 19.13 billion …

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IMF lowers Greece GDP growth projection to 2.2 percent

The International Monetary Fund has lowered its projections on Greek growth from last fall and warned against “unreasonable forecasts” and “unjustifiable frameworks” by the country’s European creditors. In its World Economic Outlook, published on Tuesday, the Fund argued that growth in Greece this year will come to 2.2 percent against …

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Greek Statistics Revised – Recession Deeper than Estimated

Revising the  Statistics data seems to turn into a hobby in Greece. Two days after the announcement of the draft budget -which was based on old data – , the Greek Statistics Authority (ELSTAT) revised the Gross Domestic Product. Recession was deeper than estimated. Why bother with balance sheets and …

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