The level of primary surpluses is at the heart of the government’s consultation with the Institutions. Today, on the sidelines of the Economist Congress in Lagonissi, Finance Minister Christos Staikouras will conclude the first round of contacts with the creditors’ representatives during a meeting with Declan Costello, the European Commission mission chief for Economic and Financial Affairs in our country.
Europeans insist on reaching a target of surpluses of 3.5% of GDP by 2022, as promised by the previous government, but they are willing to give Athens the leeway to draft a tax bill that is expected to be voted by August 10th.
The Prime Minister is also scheduled today to meet with Klaus Regling, the head of the European Stability Mechanism (ESM). Government spokesman also assured to meet these targets in the next two years. As Stelios Petsas pointed out to ERT, “we will remain faithful to the targets for this year and for 2020 and we will set out to reduce primary surpluses, while the tax bill will help develop the economy”.
At the same time, the Greek State is planning a new exit on the markets with a 7-year bond issue, which will complete the country’s annual lending program, and which is expected to raise about 2.5 billion euros.