Public finance

Referring to the mistakes that led to the derailment of the Greek rescue program, the International Monetary Fund's European department chief Poul Thomsen said during a speech at the London School of Economics on Monday that the previous SYRIZA-led government essentially chose austerity instead of reforms.

The President of the Fiscal Council, Daniel Daianu, recommends postponing new increases of incomes / salaries, stopping the promises that generate unrealistic expectations in citizens and restructuring the state apparatus given that, according to him, the acute deficit of fiscal area is increasingly dangerous.

Greece has the potential to be the new turnaround story, despite being the last of the so-called PIIGS (Portugal, Ireland, Italy, Greece, Spain) to complete its creditor-imposed austerity program, Swiss investment firm Reyl Group says in a report.

On the occasion of the first anniversary of Greece's exiting its third and final austerity program Tuesday, the European Commission urged the country to continue its efforts to put its finances right, lower the still "unacceptably high" unemployment and heal the social fissures that resulted from the lengthy financial crisis.

The government is preparing its case for tax cuts and a lower primary budget surplus ahead of the September visit of Greece's creditors for their fourth report under the regime of "enhanced supervision" that has followed three painful rounds of austerity programs.

In its latest budget revision bill, the Ministry of Public Finance (MFP) projects an increase by 2.251 billion lei in the 2019 government revenues and by 285.7 million lei in the public expenses.

When he set up his own business washing boats and cars on the Greek island of Skyros nearly a decade ago, 42-year old Nikos Vourliotis was a young man with dreams and aspirations.

Greek tax cuts and bonuses for pensioners announced last month pose a risk to fiscal targets agreed with eurozone lenders, the European Commission said on Wednesday in a blow to the Greek government ahead of elections next month.

Greek tax cuts and bonuses for pensioners announced last month pose a risk to fiscal targets agreed with eurozone lenders, the European Commission said on Wednesday in a blow to the Greek government ahead of elections next month.

Bank of Greece Governor Yannis Stournaras on Tuesday sounded the alarm over the cost of social security, warning that the margins are "extremely narrow" for pensions to continue being paid out of the state budget.