Fin Min Rules Out New Fiscal Measures
Tuesday, 15 October 2013
Finance Minister Yannis Stournaras told reporters after a Eurogroup session that he was sure the Greek government would adopt no new horizontal fiscal measures, the Athens News Agency-Macedonian Press Agency reported.
The government will now focus on achieving bigger economic growth and adopting measures of a purely structural nature, Stournaras said, as quoted by the news agency. He added that Greece’s "cyclically adjusted primary surplus" amounted to 4 – 6% of GDP.
The finance minister added Greece was very close to satisfying the prior actions required for the disbursement of a rescue loan tranche of 1.0 billion euro.
As far as the so-called funding gap is concerned, Stournaras estimated it to around 5.0 billion euro for the second half of 2014 and to around 10.4 to 10.8 billion euro for the for the two-year period July 2014 - July 2016.
Asked if Greece’s funding gap would be covered by a bond roll over, Stournaras said that all options were being considered.