Greek primary surplus target should be cut to 1.5-2 percent after 2018, says Houliarakis

22 June 2016
121 Views

Greece’s primary surplus budget target beyond 2018 should be lowered to 1.5-2 percent of gross domestic product, the country’s Alternate Finance Minister Giorgos Houliarakis said on Wednesday.

Under its third international bailout, Athens has agreed to achieve a primary budget surplus of 3.5 percent of GDP in 2018, although the International Monetary Fund and some Greek officials have argued that the target is not realistic.

“A commitment is a commitment … and we have to honor this commitment if we want to restore and enhance credibility,” said Houliarakis, referring to the current primary surplus targets set in its bailout up to 2018.

“But we need reconsider the level of primary surplus targets beyond the lifetime of the program, after 2018. Our preference is for a significantly lower primary fiscal target beyond 2018 in the range of 1.5 to 2 percent,” he said during an Economist conference.

You may be interested

Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greece
GREECE
shares63 views
GREECE
shares63 views

Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greece

makis - Nov 17, 2017

Turkish Deputy Prime Minister Bekir Bozdag accused Greece of imprisoning Muslim Imams, despite the country being a member of the…

Greek PM says country would rely on itself to face flood disaster
POLITICS
shares78 views
POLITICS
shares78 views

Greek PM says country would rely on itself to face flood disaster

makis - Nov 17, 2017

Greek PM Alexis Tsipras thanked European countries for offering to help after the flash floods in western Attica, Wednesday, which…

US meteorologist explains deadly storm that flooded Greek towns
GREECE
shares99 views
GREECE
shares99 views

US meteorologist explains deadly storm that flooded Greek towns

makis - Nov 17, 2017

“When the Atlantic hurricane season begins to quiet down in late October and November, it’s time to cast an eye…

Leave a Comment

Your email address will not be published.