BoG official: Primary surplus of 0.8% of GDP and 0.3% recession

BoG official: Primary surplus of 0.8% of GDP and 0.3% recession

Athens, September 14, 2016/Independent Balkan News Agency

By  Spiros Sideris

Primary surplus of 0.8% of GDP (against the memorandum target of 0.5% of GDP) will reach the country in 2016, while the recession will be limited to 0.3%, forecasted a senior official at the Bank of Greece on the sidelines the meeting of the Governor of the Bank of Greece, Yannis Stournaras, with representatives of institutions. In 2017, according to the same official, the GDP will move upwards by 2.5% – aided mainly by foreign investments; provided, however, that the privatizations and reforms will proceed as planned.

The particular official also said that, despite the objections and disagreements expressed by European officials for the reduction of primary surplus targets below 3.5% of GDP by 2019, the European Central Bank supports the efforts of Greece. “It’s with us 100%”, he said.