Greek debt reduction in absolute numbers begins

14 October 2019
378 Views

The debt reduction for 2019 is foreseen by the State Treasury, as is evident from the preliminary draft state budget. For the first time in recent years, general government debt is projected to drop to EUR 329.3 billion, down from the EUR 334.57 billion in 2018.

In terms of GDP, in fact, the decline will be very large as the rate is 181.1% from its historical high of 2018 and is expected to fall to 173.3% in 2019. As for 2020, a slight increase of the debt in absolute numbers (from EUR 329.3 billion to EUR 331 billion) is foreseen, but it will continue to fall as a proportion of GDP. Thus, by 2020, debt will stand at 167.8% of GDP, which will rise to EUR 197.315 billion versus EUR 190.004 billion, as a result of the strong growth rate estimate of 2.8%.

You may be interested

Covid-19 Greece – 2,018 new cases on Thursday
GREECE
shares21 views
GREECE
shares21 views

Covid-19 Greece – 2,018 new cases on Thursday

makis - Nov 26, 2020

The Greek authorities announced 2,018 new cases of coronavirus on Wednesday, of which 2 were detected following checks at the…

Covid-19 Greece – 2,152 new cases on Wednesday
GREECE
shares35 views
GREECE
shares35 views

Covid-19 Greece – 2,152 new cases on Wednesday

makis - Nov 25, 2020

The Greek authorities announced 2,152 new cases of coronavirus on Wednesday, of which 6 were detected following checks at the…

Greece provides 50% tax deductions to foreigners and Greeks abroad
FINANCE
shares33 views
FINANCE
shares33 views

Greece provides 50% tax deductions to foreigners and Greeks abroad

Panos - Nov 25, 2020

The Greek Finance Ministry is introducing a series of tax incentives with the aim of attracting foreign workers and the self-employed, as…

Leave a Comment

Your email address will not be published.