# Commission Decision (EU) 2015/1092 of 23 July 2014 on the State aid SA.34824 (2012/C), SA.36007 (2013/NN) SA.36658 (2014/NN), SA.37156 (2014/NN), SA.34534 (2012/NN) implemented by Greece for National Bank of Greece Group related to: Recapitalisation and restructuring of National Bank of Greece S.A., Resolution of First Business Bank S.A. through a transfer order to National Bank of Greece S.A., Resolution of Probank S.A. through a transfer order to National Bank of Greece S.A., Resolution of Cooperative Bank of Lesvos-Limnos, Cooperative Bank of Achaia, and Cooperative Bank of Lamia (notified under document C(2014) 5201) (Only the English text is authentic) (Text with EEA relevance), Annex Appendix I: MACROECONOMIC PROJECTIONS FOR GREEK DOMESTIC OPERATIONS

Extent: E+W+S+N.I.

% annual growth (unless otherwise stated)
2012
2013
2014
2015
2016
2017
Cumulative growth rate 2013-17
Real GDP
– 6,4
– 4,2
0,6
2,9
3,7
3,5
6,4
Nominal loan growth Greece
– 6,4
– 4,2
0,6
2,9
3,7
3,5
6,4
GDP deflator
– 0,8
– 1,1
– 0,4
0,4
1,1
1,3
1,3
Property prices
– 11,7
– 10
– 5
0
2
3,5
Nominal household disposable income
– 8,8
– 9,5
– 0,3
– 0,4
2,6
3,6
– 4,5
Private Sector deposits
– 7
1,3
1
3,4
5
5
16,6
Unemployment (%)
24,2
27
26
24
21
18,6
ECB refinancing rate (%)
0,75
0,5
0,5
1
1,5
1,75
NPL formation peak
2H2014
Euribor 3 months (average, %)
0,24
0,43
0,75
1,25
1,80
Access to capital markets — repos
YES-No Cap
Access to capital market — covered/senior unsecured
YES — up to EUR 500 million each
YES — up to EUR 1 billion each
YES-No Cap

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Source: https://www.legislation.gov.uk/eudn/2015/1092/annex/2 (the official version)
Page: https://openlegislation.uk/eu-decision-2015-1092/annex-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.