NEWS

Greece: Bailout lenders agree to scrap 2019 budget cuts

TAGS: Economy, EU

Greek officials say lenders have agreed to scrap a major round of government funding cuts planned for next year after the country outperformed budget targets set to help protect public finances.

Prime Minister Alexis Tsipras said the government received “very positive news from Brussels” on Thursday, when bailout creditor representatives met to discuss Greeces draft 2019 budget.

Greece exited its third successive international bailout in August but had committed to creditors’ demands for more austerity measures in 2019 and 2020, including pension cuts.

Tsipras’s left-wing SYRIZA party is trailing conservatives in opinion polls ahead of a general election next October and is keen to avoid unpopular measures following years of hardship for many Greeks. [AP]

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