Greece sees to overshoot budget surplus targets in 2018: Government official

Greece is expecting to overshoot its budget surplus targets for a third consecutive year in 2018, a senior government official declared Monday, an outcome that could help ease the austerity burden imposed on a recession-weary population.

In a final budget draft due to be submitted to parliament on Tuesday, Greek authorities will outline projections of a primary surplus — the fiscal surplus excluding debt repayments – of between 2.4 and 2.5 percent this year, and of more than 3.7 percent next year, the official told Reuters.

The figures mark an upward revision. A draft budget submitted on Oct. 2 had put the surplus at 2.2 percent for 2017 and 3.57 for 2018.

Source: Reuters