‘Good and bad’ pension cut scenario in Greek draft budget tabled with EU Commission
The Greek government, as expected, included both “scenarios” regarding pension cuts in a draft budget for 2019 sent to the EU Commission this week for its review and posted by the latter on Monday evening.
Only marginal differences are found from the draft submitted on Oct. 1 in Greece’s Parliament, with the primary budget surplus forecast to reach 3.6 percent of GDP for the coming year if the pre-legislated social security reduction is not implemented after all – and 4.2 percent if implemented. An attached bundle of “discretionary measures” – welfare spending and tax breaks – will also be curtailed if the pension measure is avoided.
A final decision on which measures the poll-trailing Tsipras government will or will not implemented during an election year awaits deliberations with the European Commission.
Conversely, a “no change policy” generates a forecast for a 4.2 percent primary balance surplus and a fiscal space of 1.1 billion euros.
With Monday’s submission of the draft budget, the Commission’s service begin their detailed review on Tuesday.
You may be interested
JOKER results: 15/11/2018Panos - Nov 15, 2018
The winning numbers from the JOKER draw are as follows:
Giannis Antetokounmpo responds to racist “monkey” comment against brother Thanasis by Olympiakos fanmakis - Nov 15, 2018
NBA star Giannis Antetokounmpo lashed out Thursday, November 15, at a Greek television presenter who described his brother Thanasis as…
Euro Working Group gives green light for measure to leave Greek pensions uncut to remain intactmakis - Nov 15, 2018
The Euro Working Group has given the green light over the Greek government’s decision to not slash pensions, according to…