According to the revised medium term fiscal strategy plans for the 2015-2018 period Greece will see a 2.3% GDP primary surplus and a 0.6% GDP growth rate in 2014.
The Deputy Minister of Finances Christos Staikouras presented the revised fiscal strategy in Parliament and noted that the Greek economy will enter a phase of recovery and growth over the next period.
Mr. Staikouras claimed that “Greece has entered a phase of fiscal stability, an achievement that is due to the great sacrifices of the Greek people”.
Mr. Staikouras reported that Greece has covered all funding needs for the next 12 months, but did not rule out the possibility of a new bond issue worth 3 to 6 billion euros in the next year, to cover any additional needs.
The Deputy Minister noted that the strategy does not comply with the trioka’s estimates, which will be revised in September, especially if there is a fiscal gap.The Deputy Minister explained that the ten goals of the coalition government’s financial policy are:
- Focusing on growth initiatives and reforms
- Support cash flow via NSRF, the Greek Investment Bank and IfG
- Gradually reduce taxes for households and businesses
- Introduce modern policies and progress to support employment
- Increase social expenditure via the guaranteed minimum income
- Improve the quality of public finances
- Expediting administrative reforms
- Combating corruption and fraud
- Managing the long-term sustainability of Greek debt
- Create primary surpluses and avoid new deficits
