Skip to main content

Home Featured

Greek budget predicts higher primary surplus this year

Greece doubled its forecast for a budget surplus before interest payments this year, boosted by better than expected tax revenues, a revised budget plan for 2014 showed on Thursday.

Athens also confirmed its economy would return to growth next year after a six-year recession, posting growth of 0.6 percent.

Posting a primary surplus makes Athens eligible for debt relief from international lenders that have bailed out the country twice since 2010.

“Tax revenues are exceeding our targets this year,” Deputy Finance Minister Christos Staikouras told reporters.

Athens will report a primary budget surplus of at least 712 million euros this year, compared to a previous forecast of 344 million euros made in a draft budget plan last month, Staikouras said.

Greece maintained its forecast for a primary surplus of 1.6 percent of gross domestic product next year.