Greece
Calamos Supports GreeceCalamos Supports Greece

primary surplus

EU Scraps 3.5 Percent Surplus Target for Greece Due to Coronavirus Emergency

Eurozone finance ministers decided on Monday evening to scrap the primary surplus target of 3.5 percent of GDP for Greece this year in the face of the coronavirus pandemic. "Today's (yesterday's) decisions fully meet Greek positions and priorities," Finance Minister...

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...

Greece to Ask Creditors for Lower Primary Surplus Targets in 2020

Greece will be able to ask its creditors to lower the primary surplus targets and plans to do so in 2020, Finance Minister Christos Staikouras said in a debate on the 2020 state budget in Parliament on Saturday. "To reduce...

OECD Releases Cautiously Positive Report for Greek Economy

The Greek economy is projected to grow by 2.1 percent in 2020 and 2.0 percent in 2021, after experiencing a 1.8 percent growth rate in 2019, the Organization for Economic Cooperation and Development (OECD) said on Thursday. In its newest...

2019 Greek Primary Surplus Exceeds Target By Several Billion Euros

The Greek state budget recorded a primary surplus of 5.755 billion euros in the period from January-October, significantly exceeding budget targets for a surplus of 2.314 billion euros in the same period, the country's General Accounting Office said in...

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...

Greek Primary Surplus Continues to Exceed Targets Despite Tax Cuts

The Greek state budget recorded a primary surplus of 4.479 billion euros in the January-September period over budget targets, for a surplus of €1.467 billion, the country's Finance Ministry announced on Tuesday. There was a primary surplus of 2.523 billion euros...

Proposed Greek Budget Foresees 2.8 Percent Growth for 2020

The Greek Finance Ministry presented a proposed 2020 budget in Parliament on Monday which foresees the Greek economy growing by two percent this year and 2.8 percent in 2020. According to the report from the Hellenic Fiscal Council, which endorses...

ESM Chief Regling Says Greek Primary Surplus Targets Could Be Reduced

Chief of the European Stability Mechanism (ESM) Klaus Regling indicated on Friday that the European Institutions might consider reducing Greece's primary surplus targets beginning in 2021. Speaking during a press conference just before the crucial Eurogroup meeting coming up in...

IMF Calls for Review of Greece's High Primary Surplus Targets

The International Monetary Fund (IMF) agrees with the recent opinion expressed by Christine Lagarde in the European Parliament concerning the need to review the high primary surplus targets for Greece, IMF spokesperson Gerry Rice said on Thursday. This view reflects...