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The Stability and Growth Pact (SGP) which governs fiscal rules has been partly suspended since early 2020, but is due to be fully reinstated in 2023. A key issue will be how to…
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DOI: 10.1108/OXAN-DB268373
ISSN: 2633-304X
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Geographic
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The economy is on track to grow by 5.3% year-on-year in 2022, outperforming market expectations for the second year in a row. In a sign of its recovery, Greece left the EU's…
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DOI: 10.1108/OXAN-DB273640
ISSN: 2633-304X
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Geographic
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The economic rebound from a 9% contraction in 2020 is mainly being driven by strong domestic demand supported by accommodative fiscal policies and higher-than-expected tourism…
The speech set out the government’s economic policy guidelines for the remainder of 2020 and 2021, largely extending the package of fiscal measures in place since April 2020…
The Portuguese government presented its 2017 budget to parliament on October 14. The EU agreed in August to waive fines over its excessive budget deficits, but Portugal remains…
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DOI: 10.1108/OXAN-DB214416
ISSN: 2633-304X
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GREECE: Fiscal position is improving
Passage from speculative to investment grade (IG) would mark the end of the sovereign debt crisis besetting the country since 2009. The upgrade would lower government borrowing…
The left-right coalition that governed in January-August has been reconstituted with a reduced parliamentary majority. It is ostensibly committed to the reform programme…
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DOI: 10.1108/OXAN-DB205763
ISSN: 2633-304X
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Prime Minister Alexis Tsipras has reshuffled his cabinet to include ministers more accommodating to creditor demands. He is intent on concluding the second review rapidly in…
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DOI: 10.1108/OXAN-DB216022
ISSN: 2633-304X
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Geographic
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The official baseline is for an 8.2% GDP contraction in 2020, and a 7.5% rebound in 2021. It took into account moderate restrictions on movement in winter 2020/21, but the…