Eurostat Confirms Greece's Government Surplus for 2016 -- Update
24 Abril 2017 - 9:00AM
Dow Jones News
By Nektaria Stamouli
ATHENS--The European Union's statistics arm verified Monday that
Greece posted its first overall budget surplus in 21 years, with
debt repayments included, in 2016.
Eurostat expressed no reservations about the quality of data
provided by the Greek national statistics service and published
Friday.
Greece posted a primary surplus of 4.2% of gross domestic
product, excluding interest payments for 2016, Eurostat figures
showed.
"This is significantly above the 0.5% of GDP program target set
for 2016 and even above the target of 3.5% set for 2018," European
Commission spokesman Margaritis Schinas said, adding that the body
was confident Greece would reach its targets in 2017 and 2018.
The country's general government debt, however, rose to 179% of
GDP in 2016 from 177.4% in 2015, according to Eurostat figures.
Under the terms of its bailout program, Greece had to reach a
0.5% primary budget surplus in 2016. Greece has to reach a primary
surplus of 1.75% in 2017 and 3.5% in 2018 and maintain it at that
level in the medium term.
Write to Nektaria Stamouli at nektaria.stamouli@wsj.com
(END) Dow Jones Newswires
April 24, 2017 07:45 ET (11:45 GMT)
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