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Commission: Greece Will Surpass Primary Surplus Objectives in 2018

The European Commission projected on Thursday that Greece will achieve a 3,9% primary surplus in 2018.

The agreed objective between Greece and its creditors is 3,5%.

The overall budget surplus – after servicing debt – is projected to be 0,9% in 2018, down from a 1,2% deficit this year.

The Greek bailout programme is due to expire in the summer of 2018 and Athens plans to return to capital markets to refinance its debt. Before servicing its debt, the European Commission projects Athens will reach a 2% primary surplus in 2017.

The Commission also projects that the Greek debt-to-GDP ratio from the current 179,6% to 170%.

The country will also start running a budget surplus of 0.9 percent next year in a sharp reversal of a budget deficit of 1.2 percent seen this year.


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