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Tuesday, 16 April 2024
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Athens Macedonian News Agency: News in English, 16-06-27Athens News Agency: News in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>CONTENTS
[01] PM Tsipras holds meeting with ministers ahead of EU SummitThe crucial imminent EU Summit in Brussels after the recent developments and the result of the British referendum as well as the condition in Europe dominated a meeting between Prime Minister Alexis Tsipras with his close associates and the government's ministers.During the meeting was also discussed the bill on the change of the electoral law that is expected to be tabled in parliament in the next days in order to be voted until mid-July. Tsipras is expected to hold a series of meetings in Brussels with the president of the European parliament Martin Schulz, representatives of the European Socialists, the head of the European Left Gabi Zimmer and representatives of the European Greens. Moreover, Tsipras has been invited as observer to the preparatory meeting of the European Socialists ahead of the EU Summit. According to sources, a process is underway in order the meeting of the European Socialist leaders to be held in Paris on Friday. If the meeting takes place, then Tsipras will attend the meeting accepting French President Francois Hollande's invitation and afterwards he will leave for China for his scheduled official visit. [02] 2,282 mln euro primary surplus in May 2016, FinMin saysAccording to the data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the period of January - May of 2016 presented a deficit of 814 million Euros, against the target of 2016 Budget of deficit of 3,880 million Euros and the deficit of 1,399 million Euros for the same period of 2015. The State Budget Primary Balance amounted to a surplus of 2,282 million Euros, against the primary deficit target of 820 million Euros and the primary surplus of 1,506 million Euros performed at the same period of the previous year.State Budget net revenues amounted to 19,208 million Euros, showing an overperformance of 328 million Euros or 1.7% against the target. Ordinary Budget net revenues amounted to 17,263 million Euros, 773 million Euros or 4.7%, higher than the target. Particularly, during the period of January-May 2016 there was an increase against the target in the following main revenue categories: a) Personal Income Tax (PIT) by 31 million Euros or 1.2%, b) Direct Tax Arrears by 124 million Euros or 15.6%, c) Other Direct Taxes by 77 million Euros or 9.8%, d) VAT tobacco by 40 million Euros or 16.3% e) VAT other by 112 million Euros or 2.3%, f) Tax on Vehicles by 35 million Euros or 77.7% g) Other Excise Taxes (Tobacco, etc) by 129 million Euros or 12.2%, h) Indirect Tax Arrears by 188 million Euros or 76.2%, i) Drawings From E.U. by 146 million Euros or 179.5%, j) Other Non-Tax Revenue by 423 million Euros or 27.9%. During the same period there was an underperformance against the target in the following main revenue categories: a) Income Tax Other by 42 million Euros or 8.4%, b) Property Taxes by 61 million Euros or 5.9%, c) VAT Fuel by 129 million Euros or 18.1%, d) Excise Tax on Fuel by 46 million Euros or 2.8%, e) Other Consumption Taxes by 77 million Euros or 38.3%, f) Other Indirect Taxes by 47 million Euros or 25.3%, g) Liquidity support plan proceeds by 54 million Euros or 54.5%. Tax refunds amounted to 1.206 million Euros, increased against the Budget 2016 target (1.078 million Euros) by 128 million Euros. PIB revenues amounted to 1,945 million Euros, decreased against the target by 445 million Euros. Particularly, in May 2016 the State Budget net revenues amounted to 3,194 million Euros, 476 million Euros higher than the monthly target. Ordinary Budget net revenues amounted to 3,159 million Euros 451 million Euros higher than the monthly target. The increase in revenues in May 2016 is mainly due to: a) Personal Income Tax (PIT) by 158 million Euros, b) Property Taxes by 40 million Euros, c) Other Direct Taxes by 37 million Euros, d) VAT tobacco by 50 million Euros, e) VAT other by 129 million Euros, f) Other Excise Taxes (Tobacco, etc) by 174 million Euros, The decrease in revenues in May 2016 is mainly due to the following categories: a) Direct Tax Arrears by 38 million Euros, b) Liquidity support plan proceeds by 41 million Euros, Tax refunds for the period of May 2016 amounted to 228 million Euros, increased against the monthly target (162 million Euros) by 66 million Euros. State Budget expenditures for the period of January - May of 2016 amounted to 20,022 million Euros, 2,738 million Euros lower than the target (22,760 million Euros). Specifically, ordinary Budget expenditures amounted to 18,908 million Euros and were decreased by 2,367 million Euros against the target, mainly due to the reduction of primary expenditure by 2,056 million Euros. Ordinary Budget expenditures were decreased compared to the respective period of 2015 by 145 million Euros. Expenditures increased by 97 million Euros for allowance for tackling humanitarian crisis, 138 million Euros for agricultural subsidies and 10 million Euros for military procurement for the Ministry of National Defence. PIB expenditure amounted to 1,114 million Euros, lower by 371 million Euros than the target. For May in particular, State Budget expenditures amounted to 3,854 million Euros, 460 million Euros lower than the monthly target, while Ordinary Budget expenditures amounted to 3,659 million Euros, showing an underperformance of 290 million Euros against the monthly target. Public Investment Budget (PIB) expenditure amounted to 195 million Euros showing an underperformance of 170 million Euros against the monthly target. [03] BoG: Total credit to domestic private sector down 2 pct in MayIn May 2016, the annual growth rate of total credit extended to the domestic private sector stood at -2.0%, from -1.9% in the previous month. The monthly net flow of total credit to the domestic private sector was negative at €357 million, compared with a negative net flow of €156 million in the previous month.Credit to corporations In May 2016, the monthly net flow of credit to corporations was negative at €68 million, compared with a positive net flow of €85 million in the previous month, while the annual growth rate of credit stood at -1.2%, against -1.1% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.7%, from -0.6% in April 2016 and the monthly net flow of credit to non-financial corporations was negative at €70 million, against a positive net flow of €142 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -8.7% in May 2016, from -7.7% in the previous month, while the monthly net flow of credit was positive at €2 million, compared with a negative net flow of €57 million in the previous month. Credit to sole proprietors and unincorporated partnerships In May 2016, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at €14 million, compared with a negative net flow of €46 million in the previous month and its annual growth rate stood at -1.5%, from -1.3% in the previous month. Credit to individuals and private non-profit institutions In May 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at €275 million, compared with a negative net flow of €195 million in the previous month, while its annual growth rate remained at -2.9%, unchanged from the previous month. [04] Motor Oil participates in gas exploration in TanzaniaMotor Oil announced on Monday that MV Upstream Tanzania Limited has reached an agreement in principle with Otto Energy (Tanzania) Pty Limited for the acquisition of a 25% participating interest in the Kilosa-Kilombero License, onshore Tanzania.MV Upstream Tanzania Limited ("MV Upstream" – registered in Cyprus) is a wholly owned subsidiary of Motor Oil Vegas Upstream Limited (registered in Cyprus). MOTOR OIL (HELLAS) S.A. holds 65% of the share capital of Motor Oil Vegas Upstream Limited with the remainder 35% belonging to Vegas Oil and Gas Limited. For the participation of MOTOR OIL (HELLAS) S.A. in the share capital of Motor Oil Vegas Upstream Ltd. the Annual General Meeting of June 8, 2016 granted special permission pursuant to article 23a of the CL 2190 / 1920. Otto Energy (Tanzania) Pty Limited (" Otto" – registered in Australia) is a subsidiary of Otto Energy Limited, a company the shares of which are listed on the Australian Securities Exchange (ASX). Kilosa-Kilombero is an onshore block of 17,625 square kilometers for oil & gas exploration. The companies which participate as Joint Venture partners to this Exploration License are: Otto (currently 50%), Swala Oil and Gas (Tanzania) plc, (a company listed on the Dar es Salaam Exchange - 25%), Tata Petrodyne (a member of the Indian Tata Group - 25%). Swala Oil and Gas (Tanzania) plc is the operator. In consideration for the above MV Upstream will pay to Otto USD 2.3 million as past costs contribution and will carry Otto in respect of well costs up to the amount of USD 2 million. In addition, if there is a discovery necessitating drilling an appraisal well MV Upstream will carry Otto in respect of well costs up to USD 1 million. The transaction is subject to the approval of Tanzanian authorities and joint venture partners (SWALA Energy and Tata Petrodyne) approvals. In case of further developments in respect of the above, MOTOR OIL (HELLAS) S.A. will inform the investment community with subsequent announcements. [05] 57,046 identified migrants and refugees in Greece on Monday57,046 identified refugees and migrants were on the Greek territory on Monday while 132 persons arrived in the last 24 hours on the country.According to the Refugee Crisis Management Coordination Body's figures, 23,654 of the refugees are in northern Greece, 10,235 are hosted in the region of Attica, 8,656 on the Greek islands and 2,061 are hosted in different areas in central and southern Greece. 6,022 refugees and migrants are hosted in several facilities rented by the UNHCR, 4,918 are staying in non-organised facilities while approximately 1,500 persons are living outside organised facilities. Athens News Agency: News in English Directory - Previous Article - Next Article |
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