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Greek Finance Ministry

Greek Deficit Falls, Revenues Too

There's good news and bad news about Greece's crushing economic crisis. The good news is that, thanks to relentless pay cuts, tax hikes and slashed pensions, the primary deficit and debt are down. The bad news is that so...

Greek Tax Debtors Won't Pay Fines

As Greece continues to go after workers, pensioners and the poor to pay for a crushing economic crisis while tax cheats largely escape prosecution, the country is also losing money by failing to collect more than 95 percent of...

Greece Hits Surplus Of 508M Euros

Three years of crushing austerity measures have helped Greece produce a better-than-expected primary surplus of 508 million euros ($663.45 billion) in the first quarter of 2013, the Finance Ministry said on April 10. That doesn't include how much the...

Former PPC Officials Quit Over Losses

The head of Greece's privatization fund, Takis Athanasopoulos, and the Finance Ministry's General Secretary Giorgos Mergos resigned on March 9 after former managers of the Public Power Corporation (PPC) were charged with breach of duty for commissioning in...

No VAT For Shipping Through Piraeus

Hoping to kick start investor interest and lure more business, Greece will exempt big companies that ship products to Greece and use the port of Piraeus as a hub from its 23 percent Valued Added Tax (VAT) which is...

Illegal Fuel Trade Moves to Ships

A leveling of Greece's special consumption tax on diesel with that of heating oil hasn't stopped illegal fuel trading and government officials are now concerned that's moving to the shipping industry as well and are planning steps to...

Greek Lawmakers OK Law to Unlock Aid

Greek lawmakers have approved a series of long-delayed reforms demanded by international creditors, taking the country a step closer to securing its next multi-billion euro aid installment. Eurozone countries and the International Monetary Fund insisted Greece approve the steps...

Greece May Beat 2012 Deficit Target

Greece may end 2012 with a better-than-targeted primary budget deficit gap, although it doesn't include sizeable interest payments, the newspaper Kathimerini newspaper reported, citing a senior finance ministry official. The paper said Greece's primary budget balance, which excludes debt servicing...

Troika Says 80% Greek Debt Uncollectible

Because of austerity measures and even as it's pressing Greece's coalition government to go after tax evaders who owe more than $70 billion, the country's international lenders have admitted that 80 percent of the country's debt can't be collected...

Greece to Raise Tax on Businesses, Middle Incomes

Greece plans to tax businesses and middle incomes more in an effort to raise revenues from a tax reform bill it has long-promised its international lenders, a senior finance ministry official said on Thursday. The finance ministry plans to raise...