Greek economy on positive course: Eurogroup Chief



Greece’s economy is recording a positive trajectory, said Eurogroup chief Mario Centeno on Tuesday during his speech to the Committee on Economic and Monetary Affairs of the European Parliament in Brussels.

"Greece has returned to growth and the outlook is positive. The fiscal performance has been outstanding. Recent data suggests that Greece will overshoot its fiscal objectives for the third year in a row, including the primary surplus target of 3.5 %" Centeno said.

Centeno referenced the measures for the sustainability of the Greek economy and also the last tranche of EU funds to Greece which he said created a significant cash reserve for the country, covering its financing needs for the next 22 months.

The Eurogroup Chief stressed that Greece is committed to staying in this positive course by implementing development policies and reforms. He added that Greece's progress will be assessed by the "enhanced surveillance" process.

The Eurogroup expects on Wednesday the release of the relevant Commission report in cooperation with the other institutions.