Bloomberg: Athens wants to lower fiscal target for 2020-22

9 May 2019
590 Views

Bloomberg on Wednesday pointed to a Greek government initiative to persuade institutional creditors to allow a lowering of the target for an annual primary budget surplus – as a percentage of GDP – to 2.5 percent, from 2020 to 2022.

The current target, which has been agreed to by the current Tsipras government, is 3.5 percent of GDP, and, in fact, has been exceeded for the past three years.

The Bloomberg report coincides with an ongoing visit in Athens by creditors’ top auditors, as part of the third “enhanced supervision” review, as well as the abrupt announcement on Tuesday afternoon by Greek Prime Minister Alexis Tsipras of tax breaks, lower VAT rates and even a partial restoration of a pension bonus, to some retirees.

Speaking alongside Tsipras on Tuesday, during a live broadcast by the state television network, Finance Minister Euclid Tsakalotos nevertheless again made it clear that “we promised to given creditors 3.5 percent of GDP for servicing the debt, and that’s what creditors will get.”

You may be interested

Visit the Greek island in the 100 most impressive list in the world (video)
GREECE
shares23 views
GREECE
shares23 views

Visit the Greek island in the 100 most impressive list in the world (video)

Panos - May 18, 2021

Ios was recently included in the list of the most impressive islands in the world on the news site Insider.com.…

The cave beach always under shade is only 1-hour away from Athens (beautiful video)
GREECE
shares18 views
GREECE
shares18 views

The cave beach always under shade is only 1-hour away from Athens (beautiful video)

Panos - May 18, 2021

Most know the famous parts of Greece and its renowned the world over beaches. But, the more one searches, the…

You can build your own Earth 2.0 with the awesome website “Earth-like”
WORLD
shares21 views
WORLD
shares21 views

You can build your own Earth 2.0 with the awesome website “Earth-like”

Panos - May 18, 2021

You can now build your very own Earth 2.0! A new website allows users to create an Earth-like planet with a wide…

Leave a Comment

Your email address will not be published.