Greek primary surplus target should be cut to 1.5-2 percent after 2018, says Houliarakis
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
Athens fends off pressure to extradite Turkish servicemenmakis - Jan 23, 2018
Athens has fended off fresh pressure from Ankara to extradite eight Turkish servicemen who fled to Greece in a helicopter…
February 4 name talks rally moved back to Syntagmamakis - Jan 23, 2018
After initial concerns of possible clashes with self-styled anarchists, the organizers behind last Sunday’s rally over the ongoing name talks…
Frigid weather to cover Greece with sharp fall in temperaturesmakis - Jan 23, 2018
The cold air masses that have arrived in Greece from northern Europe will affect the country in the coming days,…