Greece reported a record primary surplus of €8.6 billion in 2024, significantly surpassing the target of €4.6 billion. Economy Minister Kostis Hatzidakis attributed the success to increased revenues from reduced tax evasion and stronger-than-expected growth. Looking ahead to 2025, the government plans further tax cuts for the middle class and a focus on microeconomic policies to boost investments, exports, and economic competitiveness.
Tag: Government Surplus
Fitch Ratings has upgraded Cyprus's credit rating to A-, reflecting a substantial decrease in the nation's public debt-to-GDP ratio and strong fiscal discipline. The improvement shows Cyprus's commitment to prudent economic policies and sustainable financial management.