High primary surplus targets a 'drag' on Greece's economic recovery

High primary surplus targets a 'drag' on Greece's economic recovery

The International Monetary Fund (IMF) agrees with the opinion expressed by Christine Lagarde in the European Parliament concerning the need to review the high primary surplus targets for Greece, IMF spokesperson Gerry Rice said on Thursday. This view reflects the IMF's standing position on this issue in recent years, he added.
The IMF "has always supported" that the 3.5 pct of primary surplus target for Greece was "ambitious," Rice said, and consistently said that the high primary surplus targets act as a drag on Greece's recovery. In the past, he added, "we have supported the need for a lower fiscal balance," noting that the IMF's position on the issue was "clear".
The spokesperson announced that the IMF mission will be in Athens on September 23 for talks that will be used in the assessment of the Greek economy in the framework of Article 4. He also pointed out that the IMF no longer as a programme for Greece.
Regarding the Greek government's initiatives, he said, the IMF team will "examine them carefully" in the framework of the negotiations with the Greek government, while noting that it was more important for Greece to implement reliable policies that are compatible with higher and more inclusive growth.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.