The German financial daily Handelsblatt had words of praise for Greece’s fiscal performance in the context of its bailout memorandums, noting that Athens has produced a primary surplus for three years in a row that exceeded government fiscal targets.
“According to one insider, the budget surplus in 2018, excluding debt servicing costs, is expected to be higher than government estimates for a third year in a row,” Handelsblatt online reported yesterday.
“This so-called primary surplus is therefore expected to exceed 3.7 percent of GDP next year, according to the draft budget to be tabled on Tuesday in Parliament,” the report stated.
Greek government sources told the German daily that for 2017, a primary surplus of 2.4 to 2.5 percent is projected.
In a previous draft, somewhat lower surplus values had been estimated.
The European Commission expects Athens to report a regular budget surplus of 0.9 percent next year, and for 2017, Brussels still expects a deficit of 1.2 percent, according to the report.