The Alternate Minister of Finance Giorgos Houliarakis claimed that the primary surplus targets after 2018 must be about 1.5% to 2% of the GDP. Mr. Houliarakis, who made the argument at a conference organized by the Economist, underlined that the Greek government is committed to achieving its goals in primary surpluses, in order to restore credibility.
Nevertheless, he further explained, he estimated that the targets for after 2018 must be review, indicating that they must be much lower than the existing target of 3.5%. The Alt. Minister added the target must be in the 1.5% to 2% ballpark.
Mr. Houliarakis claimed that stability ahs been restored and underlined the importance of attracting public and private investments. The Alt. Finance Minister added that without such investments, the recovery will not be sustainable. Finally, in addressing critical reforms, the Alternate Minister stressed the need to expand the tax base, reform the retail market and improve the justice system.
