Updated Midterm plan presented in Parliament

8.2.13

The Ministry of Finances will present the updated Midterm Fiscal Strategy Plan for 2013-2016 today in Parliament. The updated Midterm Plan is a prerequisite in order to collect the February installment of 2.8 billion euros.

The update was approved in November in parliament, with the more controversial amendment being the inclusion of binding expenses limits for each ministry and sector, for 2013 and 2014. This plan has been approve by the Troika.

The measures in the updated plan are less than originally announce, worth 13.3 billion euros instead of 13.5 billion euros. The primary surplus has also been adjusted to 0.3% of GDP instead of 0.4%. The troika predicts a 0% surplus.

The Midterm plan must be voted in by the 18^th of February, so that the Eurogroup Working Group can approve the disbursement of the February installment.