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In the case of Greece, the high budget deficit (which, after several corrections, had been allowed to reach 10.2% and 15.1% of GDP in 2008 and 2009, respectively [33]) was coupled with a high public debt to GDP ratio (which, until then, was relatively stable for several years, at just above 100% of GDP, as calculated after all corrections). [31]
Greece had 10 million barrels of proven oil reserves as of 1 January 2012. [1] Hellenic Petroleum is the country's largest oil company, followed by Motor Oil Hellas. Greece's oil production stands at 1,751 barrels per day (bbl/d), ranked 95th worldwide, [1] while it exports 19,960 bbl/d, ranked 53rd, [1] and imports 355,600 bbl/d, ranked 25th. [1]
Tourism in Greece has been a key element of the economic activity in the country, and is one of the country's most important sectors.Greece has been a major tourist destination and attraction in Europe since the 1970s for its rich culture and history, which is reflected in large part by its 19 UNESCO World Heritage Sites, among the most in Europe and the world [1] as well as for its long ...
During the winter months, the tax will rise to 2 euros from 0.5 euros currently. "We aim to collect 400 million euros annually, almost double the amount we got last year," a senior finance ...
Japan is poised for a standout year, with the Osaka Expo 2025 spotlighting the country. Beyond iconic cities like Tokyo and Kyoto, destinations like Hokkaido and Okinawa are gaining attention.
The European country spends €1 billion a year on promoting childbirth, Reuters reported, and already offers incentives such as maternity benefits and allowances on baby items. The new measures ...
On 21 June 2018, Greece's creditors agreed on a 10-year extension of maturities on 96.6 billion euros of loans (i.e. almost a third of Greece's total debt), as well as a 10-year grace period in interest and amortization payments on the same loans. [173] Greece successfully exited (as declared) the bailouts on 20 August 2018. [174]
The Greek economic miracle (Greek: Ελληνικό οικονομικό θαύμα) describes a period of rapid and sustained economic growth in Greece from 1950 to 1973. [1] At its height, the Greek economy grew by an average of 7.7 percent, second in the world only to Japan .
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