FISCAL DEVELOPMENTS AND OUTLOOK Sample Clauses

FISCAL DEVELOPMENTS AND OUTLOOK. Greece has entered this crisis in a relatively favourable fiscal position, with substantial cash reserves, a strong primary surplus, and low medium-term re-financing needs on its high public debt. The extraordinary fiscal adjustment implemented during and following the programmes has made Greece better equipped to weather the Coronavirus outbreak compared to the situation a decade ago, ahead of the global financial crisis. The budget has been delivering high structural surpluses for several years while meeting or outperforming the fiscal targets. Greece also enjoys cash reserves close to €34 billion, which is an important asset in view of the fallout of revenues and extraordinary spending to tackle the pandemic. These efforts were reflected in 2019 and early-2020 in the financial markets and Greece’s credit ratings, which had been improving steadily. The yield spreads on Greece’s long term bonds had declined to historical lows earlier this year.
Sample 1
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FISCAL DEVELOPMENTS AND OUTLOOK. Based on the preliminary data for 2019, Greece is set to overachieve the primary surplus target of 3.5% of GDP, outperforming its fiscal targets for the fifth year in a row. In view of the emerging fiscal space based on updated revenue and expenditure estimates towards the end of 2019, and following consultation with the European institutions, the authorities distributed €186 million of social benefits to vulnerable households and cleared a pending public service obligation to the Public Power Corporation with an amount of close to €200 million from the ordinary budget rather than from the contingency reserves. The amount of the social dividend was calibrated to safeguard a distance of 0.2% of GDP compared to the fiscal target to cater for possible statistical revisions. The primary surplus is expected to reach around 4% of GDP in 2019 including these payments, above the 3.8% of GDP projected in the 4th enhanced surveillance report, which had not included these measures. The headline surplus is expected to have reached around 1.6% of GDP (6) in 2019, compared with the euro area average deficit of 0.8% of GDP expected in the Commission 2019 autumn forecast. The expected over-performance can be attributed mainly to a better revenue outturn at the end of the year, which is partly due to one-off factors. General government revenues turned out stronger than expected in the previous report, primarily due to higher receipts from social contributions by around 0.2% of GDP, which are partly linked to the start of the 120 instalment scheme, and higher tax revenues by around 0.1% of GDP, after deducting tax refunds. In addition, some one-off repayments contributed to the revenues in December by 0.1% of GDP, inter alia from the European Investment Bank. Net of the end-year payments, expenditure would have been lower by 0.2% of GDP compared to the forecast in November 2019, mainly on account of lower consumption expenditure, which comes on top of the sizeable reduction in spending ceilings in 2019 implemented together with the 2020 budget. While having a broadly neutral impact on the balance, general government investment was by 1.1% of GDP lower than initially planned, marking 2019 as yet another year of very sizeable underspending. Based on preliminary data, general government investment expenditure is estimated to be lower by 0.6% of GDP compared to the authorities’ latest projection from November 2019. However, the observed under-execution comes on top of the downw...
Sample 1

Related to FISCAL DEVELOPMENTS AND OUTLOOK

  • Economic Development 1. The Parties aim to promote balanced economic growth, poverty reduction and the reduction of social-economic disparities.

  • Continuing Professional Development The Official Agency shall provide appropriate training for staff performing official controls, enabling them to undertake their duties competently and to carry out official controls in a consistent manner, as per legislative requirements. The Official Agency shall identify training needs for staff performing official controls and ensure that staff carrying out official controls are kept up to date in their area of competence and develop specialised expertise, in partnership with the Authority and other Local Authorities. While the provision of training is the primary responsibility of the Official Agency, the Authority may provide training interventions where the Official Agency has highlighted areas where training is required. The Authority will endeavour to facilitate networking and collaboration with other Official Agencies to assist in improving knowledge in such areas. The Authority will provide e-learning resources and training for official control staff so as to promote a consistent understanding and application of new legislation, guidance or procedures, as appropriate. The Official Agency shall support participants in using e-learning resources, disseminating knowledge or skills acquired and encourage the application of learning gained through the Authority’s training in official control activities. The Official Agency shall ensure that contractors used in the performance of the Service Contract provide evidence of Continuous Professional Development and Compliance with this section. Where staff from the Official Agency need to travel outside the Official Agency functional area to attend training courses/meetings, this shall be facilitated by the Official Agency. The Official Agency in partnership with the Authority shall develop and implement training programmes for all staff engaged in the performance of the Service Contract. Where staff have participated in Better Training for Safer Food (BTSF) the training content shall be disseminated to relevant staff/contractors in the Official Agency and other local authorities in partnership with the Authority.

  • Sustainable Development 4.1 The Authority will review the Contractor’s Sustainable Development Policy Statement and Sustainable Development Plan submitted by the Contractor in accordance with the Schedule (Sustainable Development Requirements) and then at least annually thereafter.

  • Staff Development ‌ The County and the Association agree that the County retains full authority to determine training needs, resources that can be made available, and the method of payment for training authorized by the County. Nothing in this subsection shall preclude the right of an employee to request specific training.

  • Policy Development 2.2.1 LIDDA shall develop and implement policies to address the needs of the LSA in accordance with state and federal laws. The policies shall include consideration of public input, best value, and individual care issues.

  • Professional Development 9.01 Continuous professional development is a hallmark of professional nursing practice. As a self-regulating profession, nursing recognizes the importance of maintaining a dynamic practice environment which includes ongoing learning, the maintenance of competence, career development, career counselling and succession planning. The parties agree that professional development includes a diverse range of activities, including but not limited to formal academic programs; short-term continuing education activities; certification programs; independent learning committee participation. The parties recognize their joint responsibility in and commitment to active participation in the area of professional development.

  • Job Development Job development/placement is individualized and shall include weekly person-to-person job search assistance, assistance with identifying job leads, interview coaching and support, and maintaining a log of job search activities for the purposes of obtaining competitive integrated employment. By mutual consent of the consumer and the KARINA ASSOCIATION, INC. , these services may be provided in-person or by Skype, FaceTime, or other online communication tools. Job development/placement may also include arranging job trials/job shadowing for individuals with a DORS Trial Work Experience Plan, assistance with completing applications, assistance with employer follow-up after interviews, use of personal employment networks in job search, and resume update. It would include time spent calling employers, visiting and educating employers and similar activities. Job development/placement shall not be paid for using supported employment funding and shall not include the Discovery process, which is pre-vocational in nature and may be completed prior to job development. Up to 60 hours for job search assistance, authorized in 20-hour increments, may be used for job development. Additional hours of job development may be requested and require written justification by KARINA ASSOCIATION, INC. and approval of the DORS regional/program director. Authorizations for Job Development. DORS only pays for job development services which have been previously authorized by a DORS official. Job Development Reporting. The Employment Service Progress Form is expected to be submitted to DORS on a monthly basis per consumer. This form is available on the DORS website (xxx.xxxx.xxxxxxxx.xxx).

  • INTERNET PLANNING, ENGINEERING AND OPERATIONS ‌ Job Title: Internet/Web Engineer Job#: 2620 General Characteristics Integrally involved in the development and support of all Internet/Intranet/Extranet sites and supporting systems. Works closely with other IT groups and customers to define the system design and user interface based on customer needs and objectives. Participates in all phases of the development and implementation process, and may act as a project manager on special projects. Ensures the integration of the Web servers and all other supporting systems. Responsible for system tuning, optimization of information/data processing, maintenance and support of the production environment.

  • Project Development a. Collaborate with COUNTY and project clients to identify requirements and develop a project Scope Statement.

  • Skills Development The Company acknowledges the changing pace of technology in the electrical contracting industry and the need for employees to understand those changes and have the necessary skill requirements to keep the Company at the forefront of the industry. The Parties to this Agreement recognise that in order to increase the efficiency, productivity and competitiveness of the Company, a commitment to training and skill development is required. Accordingly, the parties commit themselves to:

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