Greek Deputy Finance Minister says primary surplus is €3.9bn

Greek Deputy Finance Minister says primary surplus is €3.9bn


Review Hari Stefanatos

“The validation of the primary surplus in April will clear the way for the reduction of the dept using all means possible. However, without a European or international regulation the dept will not be viable”, argued in Parliament the coordinator of the State Budget Office, P. Liargovas, referring to the report issued by his office during the update of the relevant Parliamentary Committee, in regard to the 2013 state budget.

As an answer to this, the Greek Deputy Finance Minister, Christos Staikouras, criticized the  State Budget Office report indicating its predictions, which in his opinion where proven  wrong. According to Staikouras, “the expenditure of the Public Investment Programme totaled €6,65bn (€540mln more compared to 2012), while the total tax returns totaled €3.7bn (€420mln more compared to 2012). The state has already paid 50% of its overdue dept for 2013; an overdue dept that in December 2013 was, including tax return, €4.7bn compared to €9.2bn in the end of 2012.

The Deputy Finance Minister made a special reference to the primary surplus for 2013, for which he stated that “according to the Finance Policy Programme, which the Troika uses in its assessments, the primary surplus is estimated that it will be higher than the €812mln or 0.4% of the GDP”. The country, for the second consecutive time, exceeds the programme’s fiscal goals. According to the European Account System, which will be presented by Eurostat, the primary surplus is estimated to be higher, at €3.9bn or 2.1% of the GDP. That is to say, with the methodology used by the European Accounting System, the rest of the parameters that were excluded based on the methodology of the Financial Policy Programme, will now be included, resulting in the primary surplus of the General Government being formed at a higher level”.

(Source protothema, AMNA)