The national budget for 2018 has been presented to the Greek Parliament and will pass from the plenary session on December 22nd. For 2017, the growth rate is estimated at 1.6% of GDP and the primary surplus at 2.44% of GDP. An important factor for the surplus of 2017 was the better than expected result of social security funds, regarding both revenues and expenses, as well as the sound management of the expenses of the regular budget.

For 2018, the growth rate is anticipated at 2.5% of GDP and the primary surplus at 3.82% of GDP. The fiscal efforts already made, the decrease of the economic uncertainty and the significant improvement of the economic climate are deemed as sufficient factors for safely reaching this primary surplus target, which is however only a little higher than the respective estimated result of 2017. The 2018 budget is the last budget presented within the scope of the macroeconomic adjustment program and signals Greece’s entry into a new era of economic stability.

 

Translation: Eleni Gogou