EU numb to Greek proposal on lowering surplus goals
Xinhua, November 30, 2016 Adjust font size:
An EU official has been reluctant to respond to Greece's proposal on lowering primary surplus goals after 2018 to boost growth
No rushed conclusions should be made as Greece and its creditors have many other issues to discuss first, European Commissioner for Economic and Financial Affairs Pierre Moscovici told SKAI TV on Tuesday.
He only said that the proposal is under consideration.
The EU official is in Athens to discuss the progress of the bailout program implementation.
To secure the debt-torn country's economy, the third bailout program for Greece was sealed in the summer of 2015 and will last for three years. The 86-billion-euro package is conditional on the accomplishment of the goal of a medium-term primary surplus of 3.5 percent of GDP by 2018.
The fiscal target set in 2015 for Greece is a deficit of 0.25 percent of GDP. For 2016 the goal is a primary surplus of 0.5 percent, for 2017, 1.75 percent and for 2018, 3.5 percent.
Greece is pushing in recent months for the review of some targets to allow breathing space to recession-hit companies and households.
Should international lenders agree to the reduction of primary surplus targets after 2018 to 2.5 percent of GDP, the burden of taxes will be eased to support growth, Greek Finance Minister Euclid Tsakalotos said Monday. Endi