Tags: EU | Greece | Economy

Greece Promises Creditors it Will Deliver on Budget Pledge

Greece Promises Creditors it Will Deliver on Budget Pledge

Monday, 07 October 2019 08:39 AM

ATHENS, Greece (AP) — Greece has promised bailout lenders it will deliver a budget surplus next year and accelerate economic growth, according to the country's draft 2020 budget.

The draft submitted Monday to parliament includes growth forecasts of 2.0% and 2.8% for 2019 and 2020 — above the European Commission's forecast of 2.2% growth in Greece next year.

The country's new conservative government has pledged to renegotiate a commitment to deliver high primary surpluses — the annual balance before debt costs — but says it will honor that pledge next year keeping that surplus just above the target figure of 3.5%.

Greece ended its third successive international bailout last year but remains under regular budget supervision from European Union institutions that control the terms of bailout debt repayment.

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Greece has promised bailout lenders it will deliver a budget surplus next year and accelerate economic growth, according to the country's draft 2020 budget.The draft submitted Monday to parliament includes growth forecasts of 2.0% and 2.8% for 2019 and 2020 - above the...
EU,Greece,Economy
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2019-39-07
Monday, 07 October 2019 08:39 AM
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