Growth is returning to Greece, says Centeno

Eurogroup chief Mario Centeno said on Tuesday that Greek economy is recording a positive course.

Centeno was addressing the Committee on Economic and Monetary Affairs of the European Parliament in Brussels.

“Greece has returned to growth and the outlook is positive. The fiscal performance has been outstanding. Recent data suggests that Greece will overshoot its fiscal objectives for the third year in a row, including the primary surplus target of 3.5 pct,” Centeno said.

Among these data was the last tranche to Greece that created a significant cash reserve for the country, covering its financing needs for the next 22 months, as well as measures for the sustainability of the Greek economy. Centeno stressed that Greece is committed to staying in this positive course by implementing development policies and reforms. He added that Greece’s progress will be assessed by the “enhanced surveillance” process. The Eurogroup expects on Wednedsay the release of the relevant Commission report in cooperation with the other institutions.

Source ANA-MPA
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