Greece breezes past EU-IMF bailout targets with strong budget performance

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Greece breezes past EU-IMF bailout targets with...
 © CyprusMail 2017
Greece far exceeded its international lenders’ demands for budget savings last year, official data showed on Friday, outstripping even 2017’s target and presenting a strong case for unlocking more bailout funds.

Data released by Greek statistics service ELSTAT – to be confirmed on Monday by the European Union – showed the primary budget balance, which excludes debt servicing, hit a surplus of 3.9 per cent of gross domestic product last year versus a downwardly revised 2.3 per cent deficit in 2015.

This was calculated under European System of Accounts guidelines,...


Greece breezes past EU-IMF bailout targets with strong budget performance


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