Tags: APFN | EU | Greece | Bailout

Greek Draft State Budget Sees Steady Acceleration in Economy

Monday, 02 October 2017 09:38 AM

ATHENS, Greece (AP) — Greece's government has tabled what it calls the last of the bailout-era state budgets, which predicts economic growth of 2.4 percent and a significant budget surplus in 2018.

According to the draft 2018 budget made public Monday, the economy will expand 1.8 percent this year, up from no growth last year. The 2018 primary surplus — that is, excluding the cost of financing debt — is forecast at 3.6 percent.

Unemployment, currently the highest in the 19-member eurozone, is forecast to fall from 22 percent in 2017 to 20.8 percent in 2018.

The left-led government said budget targets are in line with bailout commitments, and is expected to significantly exceed them in 2017.

Greece has endured nearly eight years of harsh austerity, required to right its finances and receive bailouts.

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Greece's government has tabled what it calls the last of the bailout-era state budgets, which predicts economic growth of 2.4 percent and a significant budget surplus in 2018.According to the draft 2018 budget made public Monday, the economy will expand 1.8 percent this...
APFN,EU,Greece,Bailout
131
2017-38-02
Monday, 02 October 2017 09:38 AM
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