Greece to meet its fiscal targets: IMF

Greece to meet its fiscal targets: IMF 1

Greece to meet its fiscal targets: IMF 2

The IMF reported on Wednesday that Greece is on track to meet its fiscal targets for primary surpluses up to 2022.

The news published in the the “Fiscal Monitor” report was presented by Vitor Gaspar, Director of the Fund’s Fiscal Affairs Department.

The report finding were presented during the works of the IMF-World Bank Spring Meetings in Washington, which focused on the latest findings on fiscal policy in a fast-changing global economy and on curbing corruption.

The IMF said Greece had achieved a primary surplus of 3.8 % of GDP in 2018, while it foresaw a primary surplus of 3.5 % of GDP for 2019. Primary surpluses to 2022 would remain around this level, the Fund estimated, adding that they would gradually drop to 3 % of GDP in 2023 and 2.8 % of GDP in 2024.

In addition, the Fund said the drop in revenues could be compensated for by restricting expenditures, and foresaw that in the coming five years Greece will be able to achieve a cumulative debt reduction by 31 % of GDP.