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Greek PM Praises European Commission Decisions on Budget, Climate

In a statement on Friday, Greek PM Kyriakos Mitsotakis welcomed decisions regarding the European budget and climate goals made at the the meeting of EU leaders held in Brussels on Thursday. Mitsotakis praised the breakthrough made on the European budget...

Greece Forecasts 10.5% Recession this Year, 4.8% Growth in 2021

The Greek economy is expected to contract by 10.5 percent this year and to grow by 4.8 percent in 2021, according to provisions included in the new state budget, which was brought before Parliament by Finance Minister Christos Staikouras...

Greece Expected to Return to Primary Surpluses in 2022

Greece will return to primary surpluses beginning in 2022 after reporting higher primary deficits and public debts in 2020, the International Monetary Fund said in its "Fiscal Monitor Report," released on Wednesday. The IMF based its 2020 forecasts on the...

Greece's Financial Recovery Struggles as Pandemic Skews Budget

The coronavirus pandemic, which has negatively affected Greece's tourism and hospitality industries, is already widening the country's budget deficit and slowly pushing it back into recession. On Wednesday, Finance Minister Christos Staikouras announced that Greece is expected to suffer a...

European Commission Eases Budget Rules due to Coronavirus Pandemic

As a measure to aid EU Member States suffering from the coronavirus pandemic and its tremendous impact on their economies, the European Commission announced on Friday that state budget rules are eased. In order to aid people and companies, the...

Greek PM and EU Leaders Attempt to Find Consensus in Budget Negotiations

Those who follow the EU's political affairs closely know by now how difficult it is for Brussels to persuade all of its member-states concerning an issue as important as the Union's budget for the years between 2021 and 2027. Yet,...

2019 Greek Budget Records Primary Surplus of Almost €5 Billion

The Greek state budget recorded a primary surplus of 4.96 billion euros in 2019, up from a budget surplus target of 4.4 billion and a primary surplus of 91 million euros in the same period in 2018, the Finance Ministry said...

Greek Budget Foresees 2.8 Percent Growth in 2020

Greece's state budget for the financial year 2020 was presented to Parliament by Finance Minister Christos Staikouras on Thursday. A growth rate of 2.8% and a primary surplus of 3.6% in 2020 are foreseen in the new budget, slightly exceeding...

EU Commission Set to Approve Greek Budget for 2020

The European Commission announced on Wednesday that it has adopted the fourth report for Greece under the Enhanced Surveillance framework. This gives the green light to the December meeting of the Eurogroup to approve Greece's budget for the year 2020. ''The...

IMF Disagrees With Brussels; Sees Lower Greek Surpluses for 2019, 2020

Vitor Gaspar, the Head of the Fiscal Affairs Department of the International Monetary Fund (IMF) presented the Fund's Fiscal Monitor on Wednesday, just before its annual autumn summit in Washington. With regard to the IMF's projections about Greece's economy, the data presented...