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

9 May 2019
115 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

JOKER results: 18/07/2019
GREECE
shares17 views
GREECE
shares17 views

JOKER results: 18/07/2019

Panos - Jul 18, 2019

The winning numbers from the JOKER draw are as follows:

Greece: Recruitments to the health sector and the Police as a priority
POLITICS
shares17 views
POLITICS
shares17 views

Greece: Recruitments to the health sector and the Police as a priority

makis - Jul 18, 2019

A large meeting under Prime Minister Kyriakos Mitsotakis took place Thursday evening in order to plan recruitments to the health…

Cyprus Energy Minister: Five exploratory drills over the next two years
FINANCE
shares25 views
FINANCE
shares25 views

Cyprus Energy Minister: Five exploratory drills over the next two years

Panos - Jul 18, 2019

Ankara’s goal is to cause instability in the Eastern Mediterranean and discourage energy giants, the Ministry says. Five exploratory and…

Leave a Comment

Your email address will not be published.