Creditors see budget gap for next year, press for more measures
Representatives of Greece’s international creditors are pushing for more austerity measures as they have detected a budget gap for next year of between 0.15 and 0.2 percent of gross domestic product.
According to sources, the measures being sought by the creditors are worth around 360 million euros.
Sources at the Finance Ministry counter that there will be no budget gap for next year as any divergence in estimates will be plugged by an excess of revenue.
Foreign auditors believe that the money that the government has budgeted to fund its Social Solidarity Income (SSI) program for Greeks hardest hit by austerity has not been secured, hence the budget gap.
According to sources, creditors predict a similar budget gap for 2018 and will propose cuts to welfare benefits and tax breaks to bridge the gap.
Talks on the budget gap and the enforcement of austerity measures are to resume on November 14 when foreign envoys return to Athens.
You may be interested
FYROM name dispute meeting in Vienna endsPanos - Apr 26, 2018
“We are committed to trying to find a solution to the name issue of FYROM”, the UN special mediator on…
Tsipras-Juncker meeting in AthensPanos - Apr 26, 2018
Greek Prime Minister Alexis Tsipras on Thursday will receiving EU Commission President Jean-Claude Juncker at his Maximos Mansion office. According…
Eurostat: ‘Severely materially deprived’ people in Greece at 21.1% of populationPanos - Apr 26, 2018
Eurostat this week calculated the number of "severely materially deprived people" in Greece at 21.1 percent of the country's population,…