IMF revises upwards estimates for Greece’s primary surplus until 2023

Greece will succeed in meeting the primary surplus targets agreed with its European partners up until 2023, the International Monetary Fund said in its Fiscal Monitor report released on Wednesday.

The report, released in Bali Indonesia where the IMF is holding its autumn meeting, revised upwards the Fund’s estimates over Greece’s fiscal course. The report, presented by Vitor Gaspar, head of Fiscal Department, revised upwards the IMF’s previous estimate for the country’s primary surplus in 2017 (3.7 pct) to 4.2 pct and revised upwards its estimates for the primary surpluses in the coming years – in line with European estimates – as follows:

· 2018: 3,5%

· 2019: 3,5%

· 2020: 3,5%

· 2021: 3,5%

· 2022: 3,5%

· 2023: 3%

The revision for 2023 is considered a significant step as the Fund – six months ago – estimated that the country’s primary surplus will be 1.5 pct in that year.

Source ANA-MPA
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