Greece recorded a primary surplus of 4% of GDP in 2017, according to ESA regulation, Eurostat has announced. The general government budget in Greece recorded a surplus of 1.45 billion euros or 0.8% of GDP last year, compared to 1.09 billion euros or 0.6% in 2016. According to the Finance Ministry, the target for primary surpluses of 3.5% of GDP this year and in the next years is feasible.

It should be noted that the primary surplus based on the ESA regulation is usually different than that calculated based on the memorandum. However, in any case, it is estimated that the memorandum-based primary surplus will be much higher than the target of 1.75% of GDP in 2017. The general government debt in Greece was the highest in the Eurozone, amounting to 317.4 billion euros or 178.6% of GDP in 2017, compared to 315 billion euros or 180.8% of GDP in 2016.

 

Translation: Eleni Gogou