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Greece posts 3.9 percent GDP primary surplus in 2016: Greek statistical authority

Xinhua, April 21, 2017 Adjust font size:

Greece recorded a primary surplus of 3.9 percent of GDP in 2016, exceeding by far initial forecasts, official figures released by the Greek statistical authority ELSTAT showed on Friday.

The better than anticipated figures are expected to help Athens in current talks with international creditors on the way forward to overcome the seven- year Greek debt crisis, Greek national news agency AMNA reported.

Speaking to Xinhua in Athens on Thursday, Greek Digital Policy Minister Nikos Pappas had said that the government was expecting a higher than anticipated level of primary surplus for last year. The improved fiscal indexes will enhance its position in negotiations with creditors to close the second review of the current third bailout and continue on the path of economic recovery.

Under the third Greek bailout program reached in the summer of 2015, a target of 0.5 percent of GDP primary surplus was agreed for 2016. Endit