Greece beats its budget target for 3rd year, debt edges down

Greece beats its budget target for 3rd year, debt edges down
Athens Parliament building (AFP)
Updated 23 April 2018

Greece beats its budget target for 3rd year, debt edges down

Greece beats its budget target for 3rd year, debt edges down

ATHENS, Greece: Greece has beaten its bailout budget targets for a third successive year and eased its massive debt burden by a fraction as the country prepares to exit its international rescue program in four months.
The country’s independent statistics agency on Monday reported long-awaited data for 2017 that will affect ongoing negotiations between Athens and creditors on the terms of Greece’s exit.
The agency reported that the 2017 primary budget surplus — the balance before debt repayment is included— stood at 4 percent, while the national debt stood at 178.6 percent of gross domestic product, down from 180.8 the previous year.
Economic output was 177.7 billion euros ($218 billion), confirming a return to growth, but still almost a billion euros lower that annual output in 2014.