Greek Draft Budget Envisages 2.0 pct of GDP Primary Surplus in 2017
Tuesday, 22 November 2016
Alternate Finance Minister George Chouliarakis on Monday submitted the draft state budget for 2017 to Parliament President Nikos Voutsis. The 2017 draft budget envisages that primary surpluses for 2017 and 2016 will significantly surpass targets, paving the way for measures to boost social policy in the coming years.
The primary surplus in 2017 is projected to reach 2.0 pct of GDP, surpassing a target of 1.75 pct set in the economic policy programme and confirming the positive trend of fiscal data. The 2016 primary surplus is also expected to surpass targets to reach 1.09 pct of GDP, from a 0.53 pct initial budget target.
The Greek economy expected to grow by 2.7 pct after a contracting -0.3 pct rate in 2016, while the unemployment rate is projected to fall to 20.6 pct this year.