Greece will meet 3.5 pct primary surplus target in 2019, deputy FinMin says

Greek budget revenue has exceeded targets by 287 million euros in August, offering evidence of positive developments arising on the fiscal front, Deputy Finance Minister Theodore Skylakakis said on Monday, offering assurances that the government will achieve a target for a primary surplus of 3.5 pct of GDP this year.

Finance ministry officials said that the ministry will be able to assess by mid-October whether there will be additional fiscal space beyond the 3.5 pct primary surplus, something that will be accurately determined by the end of the year. For the time being, a cushion of 248 million euros is evident, resulting from lower ministry spending.

This cushion could reach 500 million euros, but the final result will be evident at the end of the year, the sources said, adding that the ministry's goal is that the 2020 state budget will be more realistic so as to avoid the excessive surpluses of the past.