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Athens Macedonian News Agency: News in English, 17-01-31
CONTENTS
[01] 2016 primary surplus expected to reach 2 pct,, according to Fiscal
Policy GenSec
[01] 2016 primary surplus expected to reach 2 pct,, according to Fiscal
Policy GenSec
The Greek state budget primary surplus will significantly surpass targets
in 2016, approaching 2.0 pct from an initial target of 0.5 pct envisaged
under the economic policy programme, Fragkiskos Koutentakis, General
Secretary of Fiscal Policy said in an interview with "Naftemporiki"
daily financial newspaper.
Koutentakis said that this development was setting new more positive
data in the development of fiscal figures not only in 2016 but in the
coming years as well. "We will have to wait for the figures from the
general government to have a more clear view of the result. But we do not
expect any negative surprise, which means that the primary surplus could
reach around 2.0 pct. The final verdict of course belongs to Hellenic
Statistical Authority and Eurostat which will announce the official
result under the prevailing methodology," he noted.
"We have no reason to expect a worsening next year so it is possible
to see revenues surpassing targets again in 2017," Koutentakis said,
adding that a significant part of 2016 performance was of a permanent
nature, which means that the 2018 gap was reducing. "This is what
elementary economic rationale dictates and I hope that the institutions
will accept it. It is incomprehensible that they insist on a fiscal gap
and demand additional measures when all official figures show exactly
the opposite. I hope this time they will not ignore reality and will
review their forecasts," he said. Commenting on the risk of a big delay
in concluding the second review, Koutentakis said: "I do not think it is
possible to have such a long delay, unless some of the creditors wish to
undermine the government and the programme. In such a case, I would worry
more about the impact on the real economy and less about cash needs."
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