Parliament's Budget Office: Greek Economy Showing Positive Signs
Wednesday, 20 February 2019
Despite uncertainties in the international scene, the the Greek economy is showing positive developments, head of the Parliament's Budget Office Fragiskos Koutentakis said on Tuesday.
During a presentation of the Budget Office's quarterly report on the Greek economy, Koutentakis also stressed the importance of completing the assessment process in order for Greece to receive the final loan installment, and sending a positive signal to markets by promoting critical reforms.
The Budget Office director said that the main positive developments recorded in the report are as follows:
- The primary surplus of the 2018 budget was 700 million euros higher than in 2017.
- The issuance of the Greek government's five-year bond in January was successful, not only because it secured a reduced interest rate and was welcomed with high demand, but also because the buyers' composition improved. Also, lately and due to the normalization of the situation in Italy, yields on Greek ten-year bond are consistently below 4%.
- The growth rate of the Greek economy, according to forecasts, may well exceed 2%, although final figures for 2018 are not yet available.