Creditors see budget gap for next year, press for more measures

31 October 2016
251 Views

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

JOKER results: Sunday 17 June 2018
GREECE
shares29 views
GREECE
shares29 views

JOKER results: Sunday 17 June 2018

Panos - Jun 17, 2018

The winning numbers from the JOKER draw on Sunday 17 June 2018 are as follows:

Lotto results: Saturday 16 June 2018
GREECE
shares67 views
GREECE
shares67 views

Lotto results: Saturday 16 June 2018

Panos - Jun 16, 2018

The winning numbers from the Lotto draw on Saturday 16 June are as follows:

“Minos” weather front to affect most of Greece until Tuesday
GREECE
shares48 views
GREECE
shares48 views

“Minos” weather front to affect most of Greece until Tuesday

makis - Jun 15, 2018

A gradual deterioration of the weather is expected take start today and cover most of the country for the next…

Leave a Comment

Your email address will not be published.