In a report on budget execution, the finance ministry said that the primary surplus totalled 1.8 billion euros in the first half of 2014, up from a primary deficit of 1.9 billion euros in the corresponding period in 2013. Excluding the overdue debt repayment program, Greece ‘s primary surplus was reported at 2.2 billion euros.
Deputy Finance Minister Christos Staikouras commenting on the budget results said “Greece, for the second successive year, recorded high and sustainable primary surpluses, confirming the stabilization of public finances, something that safeguards the basic and necessary condition for economic recovery after the painful sacrifices made by Greek households and businesses.”
“We now face a new big challenge. To transform, the soonest possible, this stabilization into a dynamic and sustainable growth, with social cohesion. This demands hard work, convergence and a national plan to enable our country to emerge from the steep tunnel it has found itself in during the past few years.”
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