Greek Economy to Grow by 2.9 pct in 2015

Greek Economy to Grow by 2.9 pct in 2015

Greece's 2015 draft budget envisages a primary surplus of 2.9 pct of GDP, or 5.4 billion euros, a further reduction in the unemployment rate and a decline in the public debt to 160 pct of GDP. Next year's budget will be the first balance budget envisaging a fiscal deficit of 0.2 pct of GDP. The draft budget includes a reduction in an extra solidarity contribution by 30 pct and a program facilitating repayment of overdue debt to the state and pension funds.
Net state budget revenue will reach 50.7 billion euros, up by 1.0 billion euros from 2014, while primary spending will reach 41.8 billion euros, up 380 million from targets. The Public Investment Program will totaled 6.4 billion euros.
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