BUSINESS

EC debt sustainability report sees anemic growth in 2022

TAGS: Economy, EU

A European Commission sustainability report on Greece's debt made public on Monday predicted the debt burden falling to 127 percent of gross domestic product by 2060, deeming that measures decided at last week's Eurogroup were satisfactory, but also forecast that growth would not rise far above 1 percent after 2022.

Specifically, the report saw Greece's debt dropping from 188.6 percent of GDP this year to 127 percent in 2060.

Revenue from privatizations are expected to reach 14 billion euros between now and 2060.

As for Greece's banks, no further recapitalization is expected at this stage. Greece's banks have been recapitalized three times over the course of the country's financial crisis. 

Greece is expected to hit a budget surplus target of 3.5 percent this year and to maintain that level of surpluses through 2022, the report said.

 

 

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