Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: All eyes are on the FOMC which concludes its two-day monetary policy meeting later today. Market consensus is for unchanged interest rates in spite of a flurry of firmer than expected US data over the last few weeks.
GREECE: According to the final Budget Execution data for January-June 2016 published yesterday by the Greek Ministry of Finance, the fiscal balance recorded a deficit of €1.00bn significantly improved compared to the respective 2016 Budget target (fiscal deficit of €4.49bn). On the privatisation front, according to press reports, four strategic investors expressed an interest in the acquisition of a 24% participation in the share capital of the Independent Power Transmission Operator (ADMIE), out of which three satisfy the criteria to proceed to the tender procedure stage.
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