Greece sees higher budget surplus this year, solid growth in 2018
Greece expects to beat creditors’ projections and achieve a higher primary surplus this year and buoyant growth in 2018, authorities said, as lenders moved forward on “constructive” talks on bailout reforms.
With its economic performance under the close scrutiny of lenders who have extended billions to the indebted country, outperforming budget targets is crucial for Greece, which has a huge debt and has been struggling to fix its fiscal woes for seven years.
“We will close this year with the number 2 in front (of the growth rate) and next year we will prove the Cassandras wrong, 2018 growth could be close to 3.0 percent,” Prime Minister Alexis Tsipras told parliament on Friday.
Greece has seen nascent growth in the past year from a resurgence of tourism and a pick-up in domestic demand after a crisis which sapped more than a quarter of the country’s output.
Source: reuters.com
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