BUSINESS

Budget set to beat forecast, per the latest projections

EIRINI CHRYSOLORA

TAGS: Finance

This year’s primary budget surplus is expected to come to 3.83 percent of gross domestic product, according to the latest estimates of the Finance Ministry, compared to a projected 3.74 percent included in the 2019 draft budget. Therefore the primary surplus overrun that the government intends to distribute will amount to some 600 million euros, per the latest data.

On the other hand, the 2017 primary surplus has been revised slightly downward to 4.14 percent of GDP, from 4.24 percent as stated in the draft budget for 2019 submitted on October 1. This is the primary surplus calculated for monitoring purposes, which is slightly different to the figure that the Hellenic Statistical Authority forwarded on Monday to Eurostat.

In any case the figures will allow the government not only to distribute a social dividend of 600 million euros, but also to avoid the planned pension cuts.

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